Agency employment -- including advertising, public relations, media buying and direct marketing -- surged in June to 440,400, after a drop in May. But with the ongoing reorganizations at Havas and Interpublic Group of Cos., the numbers will have a hard time rising again.
Markets seesaw: Higher retail sales offset higher unemployment and lower consumer confidence, but a late-week buying surge left markets flat for the week. The pharmaceutical sector rose thanks to analyst upgrades, while technology stocks lost after Oracle Corp. posted weak sales. For the week, 18 AdMarket stocks were up and 32 were down.
An analyst upgrade boosted Dow Jones & Co. shares and two downgrades sank Univision Communications. Primedia rose after it announced it will sell New York to cut debt and investors continued to bank on Havas' reorganization, due to be detailed Sept. 18. Walt Disney Co. dropped after the death of actor John Ritter cast ABC's Tuesday night schedule into doubt; the network's prime time is Disney's weak spot.
Advertising Age and Bloomberg's AdMarket 50 index of 50 top publicly traded marketer, agency and media companies for the week ended Sept. 12, based on stock trading data supplied by Bloomberg financial news service. All comparisons are vs. closing prices Sept. 5. Full data available on Bloomberg terminals under index BAAX.