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Y&R stock drops over Sears rumor

Published on .

Young & Rubicam's stock dropped 14% Jan. 21 on the rumor that its long-standing relationship with Sears, Roebuck & Co. was in trouble. However, the stock recovered to close at 57 7/8, just 1/4 off the Jan. 20 close. Sears executives denied the rumor. A spokeswoman said, "There is no change in the relationship. Y&R is a valued team player of ours."

Copyright January 2000, Crain Communications Inc.

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