Rochester, NY 8/20/2009 10:24:26 AM
Interpublic Group of Companies Inc. IPG - Deutsche Bank Analyst, Upgrades Interpublic Group
Interpublic Group of Companies Inc. IPG
New York-based Interpublic, the world's third-largest advertising and marketing conglomerate, has struggled in the first half of 2009 amid one of the worst advertising slumps in years, driven by weak spending from auto makers and events marketers.
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Sales in the April-June quarter were down 20 percent year-over-year, while earnings tumbled 76 percent. To restore its profit margins as the economy recovers, a Deutsche Bank Analyst, upgrading shares to buy from Hold.
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