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Cadence: The Street Gives Up

in News on October 23, 2008 at 1:31 pm PT

Cadence Design Systems stock has plummeted just a day after the company went public with some serious revenue recognition issues, and just a week after most of senior management was fired by the board. Among the analysts, the feedback ranges from “Cadence faces an uphill battle” to “[the management exodus was] deeper and potentially more disruptive than we expected.” Not to mention “we are cautious on the timing of a turnaround.”