Synopsys Suspends Guidance After US Notice on Export Curbs (2)

Synopsys Inc., a top maker of chip-design software, suspended its financial guidance for the current quarter and fiscal year after receiving word from the US government about new restrictions on exports to China.

The company said it got a letter from the Commerce Department’s Bureau of Industry and Security informing it of the new curbs on Thursday. “Synopsys is currently assessing the potential impact of the BIS Letter on its business, operating results and financial condition,” the company said in a statement.

The stock closed down 1.6% following the announcement, bringing its two-day losses to more than 10%. ...