In spite of concerns about the pace of the economic recovery and media price inflation, ad spending continues to show improvement. Even battered b-to-b publications are showing consistent gains. And the election is expected to cause a bump in local media spending.
Oil spike, job fears hit markets: Higher oil prices gave investors pause early in the week and again late-week when prices hit a record of $53 a barrel. A disappointing jobs report capped the week's bad news. For the week, 15 AdMarket stocks were up and 35 were down.
Automakers were down among investors anticipating weak third-quarter reports next week, as did publisher Primedia. Pharma marketer Pfizer dropped when a medical journal alluded to problems with its Celebrex drug similar to those that caused the withdrawal of rival Vioxx. On the upside, strong ratings at its ABC network and the reopening of its Florida theme parks helped Walt Disney Co. (See story p. 43) and a strong third-quarter report and improved guidance pushed up shares of fast-feeder Yum Brands.
Advertising Age and Bloomberg's AdMarket 50 index of 50 top publicly traded marketer, agency and media companies for the week ended Oct. 8, based on stock trading data supplied by Bloomberg financial news service. All comparisons are vs. closing prices Oct. 1. Full data available on Bloomberg terminals under index BAAX.