OMNICOM GROUP

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Omnicom Group recently reported that its first-quarter worldwide revenue rose 24% in 1998. First-quarter net income climbed 27% to $5.9 million from the same period a year ago. The company's ad agencies were the big winners at the International Advertising Festival at Cannes, with TBWA Worldwide, DDB Needham Worldwide and BBDO Worldwide the top three winners, nabbing a total of 91 Lions. In response, its stock rose to a 52-week high of $50.75 before dropping back to Thursday's close of $50.63.
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