SAN FRANCISCO On another day of very light trading, shares of Cadence Design Systems Inc. and Synopsys Inc. each posted double-digit loses Friday (Dec. 30), as Nasdaq investors quietly bid farewell to 2005.
Cadence (San Jose, Calif.) shares declined by 21 cents, or 1.2 percent, closing at $16.93. In an abbreviated week, Cadence finished down nearly 2.4 percent after opening at $17.33 Tuesday.
For 2005, Cadence finished up nearly 22 percent after opening the year at $13.90 on Jan. 3.
Shares of Synopsys (Mountain View, Calif.) dropped by 17 cents, or 0.8 percent, closing at $20.06 Friday. Synopsys traded as low as $ 19.76 earlier in the day.
For the week, Synopsys surrendered more than 3.2 percent after opening at $20.73 Tuesday. Synopsys closed out 2005 having gained about 1.7 percent from its Jan. 3 opening price of $19.73.
Shaking off the slide by other EDA companies and the Nasdaq composite index, Mentor Graphics Corp. (Wilsonville, Ore.) posted a 5-cent gain Friday, closing at $10.34. Early in the day, Mentor traded as low as $10.15.
For the week, Mentor finished up nearly 0.7 percent from Tuesday's opening price of $10.27. Despite ending the year on a streak that saw its share price rise by more than 12 percent since closing at $9.20 on Dec. 8, Mentor closed 2005 down more than 25 percent from its Jan. 3 opening price of $15.20.
Shares of Magma Design Automation Inc. (Santa Clara, Calif.) were down 4 cents, or nearly 0.5 percent Friday, closing at $8.41. Magma closed the week down 1.3 percent from Tuesday's opening price of $8.52. Magma's share price dropped by nearly 33 percent in 2005 after opening at $12.68 on Jan. 3.
The Nasdaq composite index dropped nearly 13 points Friday, closing 2005 at 2,205.