On May 28, Synopsys fell 3.98% in pre-market trading, trading at $505.55/share, with trading volume of $5.1 million.

On the news front, Synopsys reported fiscal Q2 results after market close on May 27. Revenue came in at $2.276 billion, beating the consensus estimate of $2.251 billion, representing 42% year-over-year growth. Adjusted EPS of $3.35 also surpassed the $3.15 consensus but declined 8.72% compared to the prior-year period. GAAP profits were significantly weighed down by Ansys acquisition integration costs. Full-year revenue guidance of $9.63 billion to $9.71 billion was raised from the prior range but only marginally exceeded the $9.63 billion analyst consensus, offering limited upside surprise.

Despite the double beat, the year-over-year earnings decline combined with conservative guidance triggered a classic sell-the-news reaction. The stock had already rallied from approximately $485 to $527 ahead of the report, prompting profit-taking. Separately, Synopsys announced a cooperation agreement with Elliott Investment Management, appointing Jesse Cohn as independent director effective June 1, with Elliott committing to standstill and voting provisions.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)