Shares of cyber security software stocks were mostly lower Monday, as the overall weakness in the technology sector outweighed security concerns following the ransomware attack on the Colonial Pipeline Co. that forced the shut down of pipelines that supply the East Coast with much of its refined fuel. The ETFMG Prime Cyber Security ETF
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Shares of Trade Desk Inc. undefined tumbled 11.1 % toward a 6-month low in premarket trading Monday, even after the provider of advertising buying services reported better-than-expected first-quarter profit and revenue and announced a 10-for-1 stock split. The company said the stock split will be enacted in the form of a stock dividend, which will be distributed on June 16 to shareholders of record on June 9; the stock will start trading on a split-adjusted basis on June 17. Net income fell to $22.6 million, or 45 cents a share, from $24.1 million, or 50 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share rose to $1.41 from 90 cents and beat the FactSet consensus of 80 cents. Revenue grew 36.8% to $219.8 million, above the FactSet consensus of $216.9 million. Total operating expenses increased 41.5% to $212.0 million, with sales and marketing expenses climbing 62.6% and technology and development spending rising 46.5%. The company expects second-quarter revenue of between $259 million and $262 million, above the current FactSet consensus of $253 million. Trade Desk's stock has slumped 17.4% year to date through Friday, while the S&P 500 undefined has gained 12.7%.