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NEW YORK — Questions about internal accounting imbalances at two Interpublic Group units in Europe prompted the agency holding company to postpone its second-quarter earnings report last week, sending its stock on a two-day slide, sources said.
IPG’s share price fell 24 percent last Monday and a further 11 percent on Tuesday to close at $13.40 a share, a new 52-week low. But it rebounded somewhat on Wednesday after J.P. Morgan upgraded the stock from “long-term buy” to “buy,” and it closed Friday afternoon at $17.15.
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