The Trade Desk among ad-tech stocks surging after Google delays phase-out plans for cookies

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Digital-advertising stocks are rallying Thursday after Alphabet Inc.’s
GOOG,
+0.76%
GOOGL,
+0.33%
Google said it would delay its plans to phase out third-party cookies that track users across the web. U.S.-listed shares of Criteo SA [s; CRTO] are up more than 12% in Thursday’s session, while shares of The Trade Desk Inc.
TDD
are up more than 17% and shares of PubMatic Inc.
PUBM,
+15.38%
are up more than 13%. Google now plans to phase out cookies on its Chrome browser in a third-month period that will end in late 2023, whereas the company initially was targeting early 2022. The new schedule will give the company more time to work with industry players on devising new privacy “standards” and “is important to avoid jeopardizing the business models of many web publishers which support freely available content,” Google said in a blog post. Stifel analyst Scott Devitt wrote in a note to clients that “this morning’s announcements have significant ramifications for digital advertising industry participants, as the extended timeline allows companies more time to prepare for the eventual deprecation of third-party cookies, develop more robust alternative solutions for user identification/targeting/campaign measurement, and potentially garner additional support for non-Google alternatives like the Unified ID 2.0 initiative.” Alphabet shares are up 0.3% in Thursday morning trading and they’ve gained 71% over the past 12 months as the S&P 500
SPX,
+0.58%
has increased 40%.

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