PUBLICIS SCORED TOPS in May for new business after it snared General Motors Corp.'s U.S. media buying account from Interpublic, according to the billings tally by Bear Stearns' Alexia Quadrani. Publicis remained in first place year to date in adjusted billings wins1. Interpublic ranks dead last for year to date, with a deficit of $439 million.
OVER A BARREL: Stocks ended the week on a high note as an index of consumer confidence rose for the first time this year. The University of Michigan's consumer sentiment index hit a five-month high of 94.8 in May, the biggest monthly gain since January 2004 and a positive sign for consumer spending.
Housing starts rose 0.2% in May, below projections, but housing stocks rocketed on expectations that low mortgage rates will keep the sector booming. For the week, 24 AdMarket stocks rose and 26 fell.
Sears Holdings was the top AdMarket gainer, rebounding nearly 10% from a recent drop. Havas rose 8% as investor Vincent Bollore raised his stake to 22% (nearly 27% when holdings of an ally are included). Interpublic Group was the biggest loser, falling 3% to its lowest point since March.
Advertising Age and Bloomberg's AdMarket 50 index of 50 top publicly traded marketer, agency and media companies for the week ended June 17 based on stock trading data supplied by Bloomberg financial news service. All comparisons are vs. closing prices June 10. Full data available on Bloomberg terminals under index BAAX.