First-quarter U.S. measured ad spending rose 4.4% to $33.5 billion, the smallest gain since the end of 2003, TNS Media Intelligence reported. "It is clear that advertisers were fiscally more cautious in the first quarter of 2005, given mixed economic indicators and wavering consumer confidence," TNS President-CEO Steven Fredericks said in a statement.
HELP NEEDED: Stocks ended the week on a down note after the Labor Department released the weakest report for monthly job growth-78,000 new jobs in May-since August 2003. For the short holiday week, 15 AdMarket stocks rose and 35 fell.
Google continued its ascent, hitting a record $283 at midweek following a favorable analyst's report and speculation Standard & Poor's will add it to the S&P 500. Havas, preparing for a showdown this week with investor Vincent Bollore over seats on the board, fell 4% after scoring a 52-week high a week earlier. General Motors Corp., the nation's biggest advertiser, dropped 2.8% as it reported weaker sales and a month-long promotion on virtually its entire line.
Advertising Age and Bloomberg's AdMarket 50 index of 50 top publicly traded marketer, agency and media companies for the week ended June 3 based on stock trading data supplied by Bloomberg financial news service. All comparisons are vs. closing prices May 27. Full data available on Bloomberg terminals under index BAAX.