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Interpublic Q2 disappoints – the canary in the coal mine?
From the -100bps drop in margins as organic sales growth slowed to only +0.4% for its Q2, IPG clearly didn’t see it coming, particularly following the solid performance in Q1 and the easier prior year comparatives it was cycling against for Q2. This lack of visibility and the uncertain impact of Fed monetary tightening on […]
Continue readingWazzup – 7th June
Agency AGM trading statements continue to provide mixed signals on trading into early 2017 . WPP – April organic net sales growth remains below +1%, notwithstanding the late Easter and election effect . M&C Saatchi – “2017 has started well” . […]
Continue readingWazzup today in the markets – 16th May 2017
ITE (ite_l) – H1 FY17 results & strategy review: Underwhelming on both . Vodafone (vod_l) – FY17 results: Value trap as investors […]
Continue readingWazzup today in the markets – 15th May 2017
GfK (gfk_de) – Q1 FY17 results: Softening up the minority hold-outs . . Ransomware: chutzpah or Cui Bono? . GfK (gfk_de) – Q1 FY17 results: Softening up the minority holdouts Just in case the minority hold-outs needed more encouragement to accept KKR’s €43.50 per share […]
Continue readingWazzup? – today in the markets 27th April 2017
Televisa (tv) – Q1 FY17 results: Still happy to stand back and let the price come back to me . WPP (wpp_l) – Q1 FY17 IMS (sales): Muted start to the year from US & China AMAZON.COM (amzn) – Q1 FY17 results: Q1 FY17: Markets chasing growth, albeit perhaps under-estimating […]
Continue readingEnd of cycle warnings for marketing services
How many leading marketers know what return they’re getting on their marketing investment? From P&G marketing honcho, Marc Pritchard’s gripes about poor transparency and accountability and a “crappy media chain”, one might surmise not many. If you can’t trust the data on who is being reached, any resulting ROI calculation derived from it is therefore […]
Continue readingWPP – slowing growth progressively reflected in rating, but are markets now also anticipating a recession?
Following Friday’s results from WPP, there are 3 areas of interest to me as a potential investor, and ones where the GrowthRater model and sensitivity analysis can offer insight on; at least on the latter two. 1. The immediate forecast 2. The longer term growth outlook and therefore rating 3. The volatility or valuation risk […]
Continue readingValue traps and opportunities and how to spot them
With a relative lull today in the results deluge, I thought it might be interesting to review how some of last week’s stack up, but from a GrowthRating perspective. As we’ve all had to wade thru far to much verbiage, I’ve kept it simple with some annotated charts and only a very few words. The […]
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