U.S. AdMarket1 jobs fell by 10,400 to 1.58 million in September, the biggest drop since January. Employment for media buying agencies and independent media reps-38,500 in September-has been stable this year though down from the 2000 peak (44,600).
Focus on: PFIZER (PFE)
It's not easy being the world's biggest prescription-drug maker. Pfizer's growth has hit a wall, and it expects full-year revenue in 2006, '07 and '08 to be roughly flat with 2005. (Reported revenue in '05 was $51.3 billion.) Pfizer in July replaced CEO Hank McKinnell with its top lawyer, Jeffrey Kindler, and the new boss is aggressively slashing costs. Pfizer top seller Lipitor kicks in 30% of its pharma sales; Zoloft, Celebrex, Viagra and Zyrtec are other big sellers.
Last week's score
The AdMarket Nov. 17 reached its highest level since April '02. The Dow broke another record, and the Wilshire 5000 hit its top point since 2000.