Synopsys down after co suspends annual and third quarter forecasts

Shares of chip design software firm Synopsys SNPS.O fall 3.6% to $447.21

Co suspends its annual and quarterly forecasts just a day after issuing them

Synopsys received a letter from the Bureau of Industry and Security (BIS) of the U.S. Department of Commerce informing SNPS of new export restrictions related to China

The company said it is currently assessing the potential impact of the BIS Letter on its business, operating results and financial condition.

The United States ordered a broad swathe of companies to stop shipping goods to China without a license and revoked licenses already granted to certain suppliers, Reuters reported, citing three people familiar with the matter

Including sessions move, SNPS stock down 4.5% YTD