No Rest for the Weary | Adweek No Rest for the Weary | Adweek
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No Rest for the Weary

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Positive news about lower interest rates helped boost the Dow Jones Industrial Average by the end of last week, although there was only depressing news for ad holding companies. WPP's stock fell as traders saw the exit of a key J. Walter Thompson Detroit exec as a sign of difficulties with Ford. For the week, WPP was down 8.8 percent to $29.18, from $32 last Monday. IPG's stock took another hit on Friday when Standard & Poor's lowered its long-term credit rating to junk status following IPG's earnings announcement on Thursday. IPG opened the week at $9.85 and closed at $8.45, falling 14.2 percent. Omnicom's stock was depressed due to a downgrade two weeks ago by Moody's Investors Service. The stock closed down 4.1 percent at $51.19, from Monday's opening price, $53.40. —david kaplan