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A report that the U.S. added jobs for the first time since January sparked a rally Friday, providing a significant boost to the Dow Jones Industrial Average. But ad holding companies are not out of the woods yet, cautioned Fred Searby, a vp and ad-industry analyst with J.P. Morgan. “We’re looking for new business—not just agencies swapping clients between themselves,” he said. “A lot of the RFPs out there right now reflect a war of attrition between the ad holding companies.”
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