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U.S. measured ad spending in August had its first double-digit decline since the ad recovery began in 2002. It's a comedown from Aug. '04, when the Athens Olympics helped rocket spending 25%.

AdMarket 50

Focus on: Catalina Marketing Corp. (POS)

Catalina Marketing coupon printers are a staple in 17,000 grocery stores, but it's pushing into drugstores (5,000 Walgreens, a hot retailer and good play for package-goods coupons) and discounters (1,000 Kmarts, not so hot, but a foothold in mass merchandise). While not in retail titans Wal-Mart, Target or Costco, Catalina is diversifying beyond the challenged supermarket category. It's spending heavily to add color checkout printers to help drive organic growth.

Price $26.94

52-week high/low $31.00/$22.07

Projected P/E1 19.6

Market cap $1.3 B

Enterprise value2 $1.3 B

Half-year revenue3 $194.6 M

Half-year net income3 $33.4 M

1. Currrent price/estimated '05 earnings per share. 2. Market cap plus debt minus cash. 3. Six months ended Sept. 30

Source: Bloomberg, company reports, Ad Age analysis

Last Week's Score

Stocks showed good gains despite inflation worries and weak job growth. Knight Ridder jumped 13% after its largest shareholder called for its sale.

AdMarket 50 1,451.32 1.4%

DJ Wilshire 5000 12,219.60 2.3%

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

Winners Nov. 4 Change

Knight Ridder $61.48 13.3%

Univision Comms. $28.42 11.2%

Google $390.43 9.0%

Yahoo $37.87 6.4%

Nike $87.80 6.0%

Losers Nov. 4 Change

Kellogg Co. $43.90 -5.5%

Havas $4.65 -4.9%

Unilever $67.24 -3.9%

Johnson & Johnson $60.88 -3.3%

General Motors Corp. $26.77 -1.8%

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