NET GAINS: The AdMarket added 2,300 U.S. jobs in April, reaching 1.55 million. But the AdMarket's share of U.S. employment fell to a post-recession low of 1.16%. Employment at Internet publishers continues to climb, with 8,200 jobs added since the sector bottomed in Dec. '03; during that period, newspapers cut 12,900 and magazines cut 5,700 jobs.
SUMMER VACATION: The AdMarket 50 started summer with its worst week of the year, dropping 2.5% as it gave back what was left of its April and May gains. Rising oil prices hurt the overall market; futures for a 42-gallon barrel of crude hit a record $60. The AdMarket is down 4% year to date and about even with its standing one year ago. For the week, only eight AdMarket stocks rose and 42 dropped.
Interpublic Group jumped 7% after a positive story in Barron's about its turnaround effort, scoring No. 1 on the AdMarket and No. 5 on the S&P for gains last week. (Interpublic still is down 2.5% year to date.) Surging Google June 24 hit a record closing price of $297. Havas fell 7% as CEO Alain de Pouzilhac quit and the embattled holding company wooed TBWA's Jean-Marie Dru. General Electric slumped 5% as CEO Jeff Immelt staged his biggest organizational chart reshuffle since taking over in 2001.
Advertising Age and Bloomberg's AdMarket 50 index of 50 top publicly traded marketer, agency and media companies for the week ended June 24 based on stock trading data supplied by Bloomberg financial news service. All comparisons are vs. closing prices June 17. Full data available on Bloomberg terminals under index BAAX.