AdWatch

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TurnSignals

AdMarket employment grew by 4,700 to 1.57 million jobs in November, the highest in three years. Jobs in broadcast TV and local stations peaked at 137,600 in Dec. '00 (the business cycle's ad-spending peak), bottomed at 126,400 in Aug. '03 and stood at 132,600 in November.

AdMarket 50

Focus on: Anheuser-Busch Cos. (BUD)

Anheuser-Busch, with 10 spots on next Sunday's Super Bowl, is the king of beers. But feisty No. 2 SABMiller has been the hotter stock. Since South African Breweries bought Altria's Miller Brewing Co. in July 2002, shares in the merged SABMiller have more than doubled while A-B stock has stumbled. A-B topped $54 in '04 but has been stuck in the $40s for about the past year. A-B reported ad expense of $807 million in '04-nearly enough for 400 Bowl spots.

Price $41.85

52-week high/low $50.10/$40.15

Estimated P/E1 17.1

Market cap $32.5 B

Net sales2 $14.9 B

Net income2 $2.2 B

Ad/sales promotion exp.2 $807 M/$536 M

1. Currrent price/estimated '05 earnings per share. 2. 2004

Source: Bloomberg, company reports, Ad Age analysis

Last week's score

Stocks rebounded, with a recovery from recent lows for automakers, as investors ignored tepid GDP growth (up 1.1% in Q4, weakest since 2002).

Winners Jan. 27 Change

General Motors $23.76 18.5%

DaimlerChrysler $56.85 10.6%

Ford Motor Co. $8.65 9.5%

Google $433.49 8.5%

CBS Corp. $26.82 7.5%

Losers Jan. 27 Change

Catalina Marketing $22.31 -10.8%

Clear Channel Comms. $29.29 -3.7%

Johnson & Johnson $58.71 -3.4%

Walt Disney Co. $25.08 -2.5%

McDonald's Corp. $35.05 -2.3%

AdMarket 50 1,465.77 +1.8%

DJ Wilshire 5000 12,963.41 +2.0%

Advertising Age and Bloomberg's AdMarket 50 tracks 50 top marketer, media and agency companies. Bloomberg symbol: BAAX

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