1405 ET - Online advertising company Magnite jumps after a federal judge rules that Alphabet's Google created an illegal monopoly allowing it to control parts of the online advertising industry. Benchmark's Daniel Kurnos says the reaction in Magnite's stock is "justified." Magnite, which provides technology to automate the purchase and sale of digital advertising inventory for buyers and sellers, is seen having an edge even if Google intends to appeal the ruling. "The uncertainty and potential for a break-up, or even just more transparency with a stricter application ion of the rules, could give Magnite, in particular, a competitive edge on an even playing field," Kurnos writes in a research note. Magnite rallies 15% to $11.36. (denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
April 17, 2025 14:05 ET (18:05 GMT)
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