Latest news with #InterpublicGroup
Yahoo
a day ago
- Business
- Yahoo
Interpublic Group (IPG) Drops After Competition Watchdog OK on Omnicom Merger
We recently published . Interpublic Group of Companies Inc. (NYSE:IPG) is one of the worst-performing companies on Thursday. Interpublic saw its share prices drop by 4.25 percent on Thursday to end at $24.13 apiece following the Australian competition watchdog's approval of its pending merger with Omnicom Group Inc. (NYSE:OMC). In a statement, Interpublic Group of Companies Inc. (NYSE:IPG) said that the Australian Competition and Consumer Commission (ACCC) has officially granted clearance for Omnicom's pending acquisition of Interpublic Group of Companies Inc. (NYSE:IPG). The ACCC approval brings the total number of antitrust approvals to 14 out of the 18 required for closing. The companies remain firmly on track to complete the transaction in the second half of 2025. 'The proposed merger of Omnicom and Interpublic will reimagine the marketing industry, ushering in a bold new era of growth for its people, delivering superior outcomes for clients, and generating significant long-term value for shareholders,' it said. A modern advertising billboard promoting a company's services in the cityscape. Additionally, investors repositioned portfolios ahead of the release of its second quarter earnings performance on Tuesday, July 22. The company said it will hold an earnings call at 8:30 AM on the same day. While we acknowledge the potential of IPG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
a day ago
- Business
- Yahoo
Omnicom (OMC) Dives on Dismal Q2 Earnings, Merger with Interpublic
We recently published . Omnicom Group Inc. (NYSE:OMC) is one of the worst-performing companies on Thursday. Omnicom Group dropped its share prices by 4.31 percent on Thursday to end at $70.86 apiece as investors unloaded portfolios following dismal earnings performance in the second quarter of the year. In its financial statement, Omnicom Group Inc. (NYSE:OMC) said net income during the period declined by 21.5 percent to $257.6 million from $328.1 million in the same period last year. Revenues, on the other hand, inched up by 4.2 percent to $4.015 billion from $3.853 billion year-on-year. On the same day, Omnicom Group Inc. (NYSE:OMC) and Interpublic Group of Companies Inc. (NYSE:IPG) announced securing the green light of Australia's anti-competition watchdog for their planned merger. A social media specialist crafting new ideas for healthcare marketing campaigns on a laptop. In a statement on Thursday, Interpublic Group of Companies Inc. (NYSE:IPG) announced that the Australian Competition and Consumer Commission (ACCC) has officially granted clearance for Omnicom Group Inc.'s (NYSE:OMC) to acquire IPG. The approval brings the total number of antitrust approvals to 14 out of the 18 required for closing. The companies said they remain on track to complete the transaction in the second half of 2025. While we acknowledge the potential of OMC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.
Reuters
3 days ago
- Business
- Reuters
Omnicom tops revenue estimates on strong growth in advertising unit
July 15 (Reuters) - Advertising firm Omnicom (OMC.N), opens new tab on Tuesday beat Wall Street estimates for the second quarter, fueled by growth in its advertising and media segment. Shares of the company rose 2.2% in trading after the bell. The ad firm's results stayed immune to the ongoing macroeconomic and geopolitical uncertainty, helped by continued spending by businesses on Omnicom's services. Omnicom, which is leveraging AI in driving campaigns, is a marketing and communications firm that offers advertising, digital marketing solutions and branding to large corporations and government agencies across various sectors. The company's media and advertising segment, its largest by revenue, posted a growth of 8.2% in the second quarter. Omnicom's revenue stood at $4.02 billion in the quarter ended June 30, compared with analysts' average estimate of $3.96 billion, according to data compiled by LSEG. The company said it expects to close its acquisition of Interpublic Group of Companies (IPG.N), opens new tab in the second half of the year, as it cleared U.S. antitrust review. On an adjusted basis, it earned $2.05 per share, compared with expectations of $2.00.
Yahoo
3 days ago
- Business
- Yahoo
Why Interpublic Group (IPG) Stock Is Up Today
What Happened? Shares of global advertising conglomerate Interpublic Group (NYSE:IPG) jumped 3.3% in the morning session after its pending acquisition by advertising rival Omnicom Group received a positive update. On its second-quarter earnings call, Omnicom's management confirmed that the acquisition of Interpublic Group (IPG) had received antitrust approval in the United States, a major step forward for the deal. In total, 13 of the 18 necessary jurisdictions have now approved the transaction, which is expected to be finalized in the second half of 2025. This mega-merger is set to combine two of the world's largest advertising and marketing services companies, creating a new industry leader. The update reduces uncertainty surrounding the deal's closure, a positive development for IPG shareholders. After the initial pop the shares cooled down to $24.82, up 2.7% from previous close. Is now the time to buy Interpublic Group? Access our full analysis report here, it's free. What Is The Market Telling Us Interpublic Group's shares are not very volatile and have only had 5 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business. Interpublic Group is down 11.8% since the beginning of the year, and at $24.82 per share, it is trading 23.9% below its 52-week high of $32.61 from August 2024. Investors who bought $1,000 worth of Interpublic Group's shares 5 years ago would now be looking at an investment worth $1,363. Unless you've been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story.
Wall Street Journal
4 days ago
- Business
- Wall Street Journal
Omnicom Posts Lower Earnings Amid Interpublic Acquisition
Omnicom OMC -2.57%decrease; red down pointing triangle reported a lower profit for the second quarter, citing increased costs from its acquisition of rival Interpublic Group and severance actions stemming from efficiency initiatives. The advertising and media company reported $257.6 million in net income, or $1.31 a share, down from $328.1 million, or $1.65 a share, from the prior year.
