The rate of existing-home sales fell 2.7% in October while new-home sales soared 13%, giving conflicting data on where housing is headed. Inventory of existing homes is at its highest point since 1986 and inventory of unsold new homes is at a record level, a problem if the pace of sales slows.
Single-family existing homes for sale * New homes for sale
1. Months' supply of homes for sale based on current sales pace.
Source: National Association of Realtors (existing homes); Census Bureau and U.S. Department of Housing and Urban Development (new homes)
Focus on: Intel Corp. (INTC)
Intel Corp. is preparing for the Q1 launch of Intel Viiv, a brand to identify PCs with chips and software to manage digital entertainment. Intel is working with more than 40 movie, music, TV, gaming and photo editing companies to deliver compatible content. Its worldwide ad spending-mostly co-op money for PC makers-last year reached a record $2.1 billion, topping 2000's $2 billion. Spending on Intel's own ads has fallen; U.S. measured spending Jan.-Sept. '05 dropped 38% to $42 million.
52-week high/low $28.84/$21.89
Projected P/E1 19.2
Market cap $165.4 B
Enterprise value2 $152.1 B
Revenue3 $34.2 B
Net income3 $7.5 B
1. Currrent price/estimated '05 earnings per share. 2. Market cap plus debt minus cash. 3. 2004 4. Ad spending for Jan.-Sept.
Source: Bloomberg, TNS Media Intelligence, company reports, Ad Age analysis
Last week's score
A mixed week for stocks; more good news (strong consumer confidence, Q3 GDP up 4.3%, good job data) than bad (weak retail sales, rising oil).
AdMarket 50 1,493.24 -0.7%
DJ Wilshire 5000 12,692.76 -0.1%
Winners Dec. 2 Change
Primedia $2.05 7.9%
McDonald's Corp. $34.91 4.3%
Marriott International $67.32 4.1%
Omnicom Group $85.44 3.8%
Univision Comms. $30.42 3.2%
Losers Dec. 2 Change
Wal-Mart Stores $47.97 -5.0%
Interpublic Group $9.34 -4.4%
General Motors Corp. $22.08 -3.4%
New York Times Co. $27.07 -2.9%
Google $417.70 -2.6%
Advertising Age and Bloomberg's AdMarket 50 tracks 50 top marketer, media and agency companies.
Bloomberg symbol: BAAX