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Stocks (finally) leap forward as Dow posts biggest one-day gain: Tuesday Wake-Up Call
What goes down can go up (but can it stay there?)
Stocks rebounded yesterday as investors bet the Federal Reserve and other central banks will respond to coronavirus fears by cutting interest rates to stimulate an unsettled global economy. The Dow Jones Industrial Average soared 5.1 percent or 1,294 points, a record one-day point gain (coming after last Thursday’s biggest-ever drop of 1,191 points). The Standard & Poor’s 500 climbed 4.6 percent. Agency stocks were mixed. Omnicom Group rebounded 1.6 percent after slumping to a 52-week low Friday. Interpublic Group of Cos. rose 2 percent. WPP, Publicis Groupe and Dentsu Group hit 52-week lows on Monday. Comcast Corp. jumped 5.2 percent; Google parent Alphabet was up 3.7 percent. Procter & Gamble Co., the world’s biggest advertiser, surged 5.6 percent.
That said, the coronavirus, of course, continues to disrupt business. According to an internal memo sent to judges obtained by Ad Age, this year The One Show will be judged remotely. As "a precautionary measure and to avoid any unnecessary risk while still maintaining the integrity of the judging process, we have made the difficult decision of switching from in-person to online judging for all disciplines of The One Show 2020," the memo reads. Last night, Facebook and Vevo, the music-streaming video company, announced they would no longer send any of their employees to SXSW. "Facebook had planned its usual presence at the confab, set for March 13 to March 22, but, like Twitter before it, ultimately decided it wasn't worth the risk," writes Garett Sloane. Also on Monday, Adobe canceled its yearly developer event, which was set for Las Vegas later this month. And the Geneva Auto Show was canceled, leaving automakers to livestream their new launches, Bloomberg News says.
Don’t forget to shake your beer
“Flip, pour hard, wait for it.” That’s the tagline for Budweiser’s Nitro Reserve Gold, which asks drinkers to take a new approach to pouring. According to E.J. Schultz, “other canned nitro beers such as Guinness use nitrogen-filled capsules known as widgets that are used to generate bubbles once the can is opened. Bud Nitro does not include a widget,” he writes. “Instead, the brand will instruct drinkers to flip the can three times to infuse the nitro bubbles, ‘then pour hard straight down the middle of a glass for that extra smooth finish with smaller and denser bubbles,’ according to informational materials. The brand will also encourage drinkers to wait for the bubbles to settle.” A TV ad for the product from VaynerMedia is called “Wrong is right,” flouting the belief that beer shouldn’t be shaken or poured down the middle of a glass.
Trash bag maker Hefty is trying to make consumers aware of how it’s helping people in certain cities to recycle cutlery, snack bags and toothpaste tubes—by showing the world’s strongest man pulling a passenger plane. The spot, from Periscope, includes 15- and 6-second digital spots that feature Martins Licis towing a plane, “five of which equal the 300 tons of hard-to-recycle plastics the Hefty EnergyBag program has helped recycle to date,” writes Jack Neff. Those 300 tons have come from only 500,000 households in 13 communities. “We wanted to get the word out to the broader market that there was work being done, a glimmer of hope that there are now a million pounds of essentially unrecyclable plastics that have been diverted from landfills,” Lisa Burns, senior VP of marketing for Hefty Waste and Storage, told Neff.
Intel taps VMLY&R
Chip maker Intel has picked VMLY&R as global creative agency of record, which will coordinate shops across the WPP portfolio. Intel will also continue to work with other shops, reports Lindsay Rittenhouse, including Dentsu Aegis Network on media, mcgarrybowen on global social efforts and Pereira O’Dell for project work.
Wish you were here (but you’re not)
The Roaming Gnome waits for Travelocity members to join him in a new series of spots, the first work for the Expedia-owned travel agency from new agency-of-record Proof. The quirky mascot talks up the perks of a Travelocity membership, as the brand seeks to enhance its member offering. The new campaign comes just after Expedia Chairman Barry Diller announced plans to streamline marketing for Expedia brands into a more simplified strategy, writes Adrianne Pasquarelli.
Does this look familiar?
Bloomberg News reports that AT&T is about to launch its cable-like online streaming service, AT&T TV, with four programming packages starting at a price of $49.99 a month for 155 channels. However, the service will have “familiar features from yesterday’s TV era, including a set-top box, two-year contracts and prices that nearly double in the second year,” writes Bloomberg, adding “the online approach is the primary platform to eventually replace its DirecTV and U-verse TV systems.”
Jack Welch dies: Former General Electric Chairman-CEO Jack Welch has died at 84. Welch assumed that post at age 45, making him the youngest at the company to hold that role. Known as a driven and take-no-prisoners manager, Welch was dubbed “Neutron Jack” for slashing 120,000 jobs at the company. “GE, and his era, was to industrial people what Procter & Gamble was to marketing and Goldman Sachs is to finance in terms of putting people into the world,” Lloyd Blankfein, former chief executive of Goldman Sachs, told NBC News.
Come on in: “Inside the Actors Studio” host James Lipton has passed away at 93. Lipton famously asked all guests on the Bravo show a series of questions including, “If heaven exists, what would you like to hear God say when you arrive at the pearly gates?” According to the New York Times, he was asked a version of it—"If God exists, what would you like to hear him say after your death?”—and replied, “You see, Jim, you were wrong. I exist. But you may come in anyway.”
‘Umm’ is not an answer: “Judge Judy” will be wrapping up next year after its 25th season but star Judy Sheindlin told Ellen DeGeneres she isn’t tired. So she’s working up a new show, “Judy Justice,” but is keeping its destination under wraps for now. Presumably she’ll share the details with Officer Byrd.
Contributing: Bradley Johnson
That does it for today’s Wake-Up Call, thanks for reading. For more industry news and insight, follow us on Twitter:@adage.
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