When IPG won, lost and won Wal-Mart

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A. 10/25: AdAge.com breaks the news that IPG's DraftFCB and media partner Aegis' Carat have won the $580 million Wal-Mart account. IPG hits $11.25, its highest price in a year.

B. 11/8: IPG's stock jumps on improved quarterly results. CEO Michael Roth: "Wal-Mart is a great win ... a validation of our strategy ... a win-win for obviously the people of DraftFCB, for Wal-Mart and for IPG."

C. 12/4: Wal-Mart fires Julie Roehm. (Wal-Mart discloses on 12/5.)

D. 12/5: IPG hits $12.40, its highest price since August 2005.

E. 12/7: Wal-Mart axes DraftFCB but invites Carat to repitch. IPG tumbles 6.4% to $11.54, its biggest one-day percent plunge since 2003. One-day market cap loss: $349 million.

F. 1/12: Wal-Mart hires IPG's Martin for creative and Publicis' MediaVest for media. IPG hits $13.80, its highest price since Mr. Roth became CEO in January 2005. The stock closes at $13.37, its highest close since February 2005.
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