HALF FULL: Prime-time ad revenue for ABC, CBS and NBC rose 4% in the first quarter, a turnabout from revenue declines in the previous two quarters, according to data compiled from the networks by Ernst & Young for the Broadcast Cable Financial Management Association (AdAge.com QwikFIND aaq60d). But season-to-date prime-time revenue (fourth quarter plus first quarter) was up a tepid 1.9%, a reality check for the upfront market. Season-to-date revenue for all day parts was up just 0.4%, partly reflecting that Q1's Super Bowl ad haul went to a network, Fox, that doesn't report data to the trade association.
BLOWING BUBBLES: Stocks ended the week where they started as Fed Chairman Alan Greenspan offered good news (the economy looks stronger now than in the spring) and bad (localized housing bubble worries, with "signs of froth in some local markets ... unsustainable ... speculative"). For the week, 27AdMarket stocks rose and 22 fell; Microsoft Corp. didn't budge.
General Motors Corp., the nation's largest advertiser, jumped nearly 12% after United Auto Workers reps agreed to discuss GM's health-care expenses. Sears Holdings skidded 11% after reporting a loss on weaker sales, giving back nearly all its gains since Kmart and Sears merged in late March. Havas dropped 6% as investors weighed what top shareholder and new board member Vincent Bollore has in mind.
Advertising Age and Bloomberg's AdMarket 50 index of 50 top publicly traded marketer, agency and media companies for the week ended June 10 based on stock trading data supplied by Bloomberg financial news service. All comparisons are vs. closing prices June 3. Full data available on Bloomberg terminals under index BAAX.