Advertisement
Canada markets open in 22 minutes

  • S&P/TSX

    21,708.44
    +52.39 (+0.24%)
     

  • S&P 500

    5,011.12
    -11.09 (-0.22%)
     

  • DOW

    37,775.38
    +22.07 (+0.06%)
     

  • CAD/USD

    0.7269
    +0.0006 (+0.08%)
     

  • CRUDE OIL

    82.33
    -0.40 (-0.48%)
     

  • Bitcoin CAD

    89,283.18
    +3,479.09 (+4.05%)
     

  • CMC Crypto 200

    1,343.76
    +31.13 (+2.43%)
     

  • GOLD FUTURES

    2,396.00
    -2.00 (-0.08%)
     

  • RUSSELL 2000

    1,942.96
    -4.99 (-0.26%)
     

  • 10-Yr Bond

    4.6100
    -0.0370 (-0.80%)
     

  • NASDAQ futures

    17,512.75
    -34.50 (-0.20%)
     

  • VOLATILITY

    18.66
    +0.66 (+3.67%)
     

  • FTSE

    7,842.72
    -34.33 (-0.44%)
     

  • NIKKEI 225

    37,068.35
    -1,011.35 (-2.66%)
     

  • CAD/EUR

    0.6814
    -0.0007 (-0.10%)
     
MARKETS LIVE BLOG:

STOCK FUTURES DIG OUT OF ISRAEL STRIKE-FUELLED TUMBLE

Shares of Netflix, the first of the megacap techs to report, slide in pre-market trading

Omnicom's (OMC) Unit Completes Purchase of Levo Digital

Zacks Equity Research
Updated
The acquisition of the majority stake in Levo Digital, through its Clemenger BBDO unit, is likely to boost Omnicom's (OMC) service offerings.

Omnicom Group Inc.’s OMC Clemenger Group, through its Clemenger BBDO unit, completed the acquisition of the majority stake in Levo Digital. Clemenger Group is majority owned by Omnicom through its BBDO advertising agency network.

With offices across Australia and New Zealand, Levo Digital specializes in marketing services and technology business. Levo Digital helps companies to take to digitalization by providing them with marketing technology and tools, specializing in marketing automation and e-commerce platforms.

The Levo Digital brand name will be retained and the business will be headed by its founders, Callum Hoogesteger and Craig Roberts, even after the buyout.

The deal will see the integration of Levo Digital’s marketing technology and tools into Clemenger's existing digital and data capabilities. The two companies are already working with each other for a significant number of clients. The new deal further raises optimism about the upcoming growth opportunities for both.

ADVERTISEMENT

The combined entity is expected to set standards in the industry with its potential to accelerate business transformation. Overall, the combination is also expected to further boost the advertising and marketing service offerings of Omnicom.

Zacks Rank & Stocks to Consider

Currently, Omnicom carries a Zacks Rank #4 (Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Some better-ranked stocks in the broader Business Services sector include Genpact Limited G, WEX Inc. WEX and Broadridge Financial Solutions, Inc. BR. All the stocks carry a Zacks Rank #2 (Buy).

The long-term expected EPS (three to five years) growth rate for Genpact, WEX and Broadridge is 10%, 15% and 10%, respectively.

Today's Stocks from Zacks' Hottest Strategies

It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.

And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.

See Them Free>>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Omnicom Group Inc. (OMC) : Free Stock Analysis Report
 
WEX Inc. (WEX) : Free Stock Analysis Report
 
Broadridge Financial Solutions, Inc. (BR) : Free Stock Analysis Report
 
Genpact Limited (G) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.