55.26 0.00 (0.00%)
After hours: 5:29PM EDT
|Bid||52.52 x 2200|
|Ask||55.95 x 800|
|Day's Range||54.60 - 55.93|
|52 Week Range||46.37 - 85.05|
|Beta (5Y Monthly)||0.74|
|PE Ratio (TTM)||9.07|
|Earnings Date||Jul. 15, 2020 - Jul. 20, 2020|
|Forward Dividend & Yield||2.60 (4.76%)|
|Ex-Dividend Date||Jun. 11, 2020|
|1y Target Est||57.05|
TORONTO, June 25, 2020 /CNW/ - Leading global communications consultancy Ketchum today introduced a new cannabis specialty in Canada as part of its existing Ketchum Cultivate offering, a suite of strategic consulting services dedicated to helping food and wellness brands with a natural, organic and sustainable focus achieve business success. Ketchum Cultivate will continue to focus on food and wellness, as well as expanding to help new and established companies in the cannabis and hemp space differentiate and elevate their brands as they navigate the evolving Canadian market and growing consumer demand – a market predicted to reach $5.8 billion in Canada by 2024. "Canadian cannabis companies are under pressure to transform quickly as they compete for consumers and satisfy investors in an industry that is increasingly at risk of being commoditized," said Erin Manning, associate managing director, Ketchum Canada.
Steve Stoute, founder and CEO of Translation and UnitedMasters told Yahoo Finance that the advertising industry 'puts people into boxes."
Omnicom Public Relations Group forms a part of the Omnicom Group (OMC). The partnership between two OPRG firms aims at developing innovative solutions and strengthening collective offerings.
(Bloomberg Opinion) -- Federal Reserve officials don’t like to talk about asset inflation.This is hardly surprising. The levels of stocks and corporate bonds, after all, aren’t part of their stated dual mandate of maximum employment and stable prices. Moreover, the central bank has tried desperately to come off as not just catering to Wall Street interests since the 2008 financial crisis. Fed Chair Jerome Powell has emphasized the importance of its “Fed Listens” forums, for one. Just last week, the New York Fed detailed a new event series called “The Fed and Main Street,” which aims “to discuss the challenges faced by vulnerable communities and highlight opportunities to work together toward an equitable economic recovery.”Such a statement sounds a little tone-deaf after the events of the past few months. The coronavirus pandemic has caused tens of millions of lower-paid and disproportionately black and Hispanic Americans to lose employment income while protests continue across the U.S. against systemic racism and police brutality. The Fed, meanwhile, has been given the lion’s share of credit for the V-shaped recovery in asset prices after increasing its balance sheet by $3 trillion and seizing control of bond markets. To further point out the contrast between Main Street and Wall Street:Main Street: The U.S. unemployment rate is 13.3%, up from 3.5% at the start of the year. Even though the federal government expanded aid, almost one-third of unemployment benefits estimated to be owed weren’t paid as of last week, and the program is set to end after July. Wall Street: The Fed’s corporate credit facilities opened up the bond market for Sysco Corp., Toyota Motor Corp., Omnicom Group Inc. and Cinemark Holdings Inc. Each company raised billions of dollars in cash — and then fired workers. In Sysco’s case, dividends to shareholders will continue. Main Street: The Fed found that among people working in February, almost 40% of those in households making less than $40,000 a year had lost a job in March. Broadly, more than half of households making less than $50,000 experienced a loss in employment income because of Covid-19 as of late May. Bloomberg Economics forecasts that the next wave of job cuts will target millions of higher-paid workers. Wall Street: The S&P 500 Index recently staged its biggest 50-day rally on record and is now higher than it was coming into 2020, up more than 47% from its March intraday low. The tech-heavy Nasdaq eclipsed its all-time high. Dave Portnoy is becoming an incarnation of market sentiment, recently boasting: “Stocks only go up. Only losers take profits.”This is a huge discrepancy that will have serious implications for the American economy should it persist. The Fed’s own data show that slightly more than half of U.S. households (about 65 million) own stocks in some form, with a median value of $40,000. But that doesn’t come close to telling the whole story. A Securities Industry and Financial Markets Association analysis from October breaks down holdings even further, which is best represented with a chart:In the Fed’s own words, wealth tends to increase “because of the feedback effect on higher incomes from the returns generated by accumulated assets.” Meanwhile, ownership of equities “varies substantially” based on race. More than 60% of white families own stocks, either directly or through a retirement account, compared with 31% and 28% for black and Hispanic families, respectively. This follows directly from the large gap in median net worth among the groups:So, the wealthiest Americans, who own the largest share of financial assets, are reaping the biggest windfalls from the Fed’s unprecedented intervention across financial markets. Meanwhile, according to minutes of the central bank’s December meeting, central bankers heard at their “Fed Listens” forums that retirees were struggling with rising health-care costs and representatives of low- and middle-income communities flagged the increased prices of basic necessities like food, housing and utilities. Their incomes might have gone down lately, but those costs haven’t. The Fed has no good answer for this. Analysts are already pondering whether the central bank’s $600 billion Main Street Lending Program, put in place to save U.S. small businesses and tens of millions of jobs, is destined to fail. Bill Dudley, the former New York Fed President and Bloomberg Opinion contributor, spelled out the issue candidly in a Bloomberg TV interview last week:“The Fed’s monetary policy tools are really about supporting economic activity and driving the economy to higher levels of employment. However, that can actually cause financial asset values to go up, and that can actually exacerbate inequality. The Fed’s choices: not have a recovery, have less inequality; or have a recovery with buoyant financial asset prices and more inequality. The Fed’s tools are just not suited to address the inequality problem. It’s pretty much that binary.How does the Fed actually get money to millions of households and small businesses? That’s difficult to do operationally. It’s much easier to intervene in the capital markets, where the Fed can rely on counter-parties, primary dealers and others, to essentially help the Fed buy financial assets.”Torsten Slok, chief economist at Deutsche Bank, put it even more bluntly in a recent report. “Fed balance sheet expansion and banking sector money creation are used for savings and purchasing financial assets,” he wrote. “You can increase the Fed balance sheet and the money supply as much as you want, if the money goes into asset transactions rather than GDP transactions it will not be inflationary.” Except, of course, for asset prices.It’s important to say that out loud, particularly when Fed officials use euphemisms like providing “liquidity” to the system or restoring “market functionality,” while lamenting a lack of wage growth and inflation in consumer prices. Years of near-zero interest rates and quantitative easing are one reason investment proceeds have increased as a share of total income since the end of the last recession while those from wages and other labor sources have tumbled. It looks as if the Fed’s answer to the coronavirus crisis will only serve to exacerbate those trends. There are no easy answers. Dudley acknowledged in a Bloomberg Opinion column last week that the Fed has encouraged moral hazard. “This doesn’t seem to be a good road to stay on,” he said. “But getting off it is very difficult. After all, no one wants to risk a depression in order to teach hedge funds, mortgage REITs or mutual-fund investors a lesson.”Maybe there’s middle ground. Central bankers will probably never do this, but imagine if they explicitly factored asset inflation into their policy decisions and mandate for stable prices. If stocks or other risky investments started to run higher, at a level well beyond their historical rate of return, that would be a signal that they should increase short-term interest rates or shut down bond-buying programs. That, in turn, would increase the cost of credit and could prevent some of the questionable corporate-finance maneuvers from the last expansion — think debt sales used to fund share buybacks, or the prevalence of “zombie firms,” which do little to aid most Americans.As it stands, the Fed merely monitors undefined “financial conditions.” According to the Bloomberg U.S. Financial Conditions index, they are now just as accommodative as they were when the central bank raised interest rates in March 2018 and December 2018. The same goes for a Bloomberg index that layers indicators of asset-price bubbles — like tech-share prices and the housing market — on top of the original parameters. Why not have a stated target for financial conditions and pledge to take action when it’s breached?I concede it’s hardly a perfect solution. But at least it’s something, rather than widespread acknowledgment that the current strategy isn’t ideal but that there’s simply no other way. It’s telling that only after the longest U.S. economic expansion in history did job gains reach parts of the population that had been previously left behind. Will those same people have to wait another decade this time around?Powell and his colleagues need a better answer on asset inflation and income inequality. I’d press the Fed chair on this topic if I were asking questions on Wednesday after the Federal Open Market Committee meeting. Pledging to talk with leaders in low-income communities — and communities of color in particular — is a good first step.But it’s not enough. The word “unprecedented” is often tossed around when describing the Fed’s interventions in recent months. As of now, it looks as if those actions will also create new extremes between America’s “haves” and “have-nots.” This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Brian Chappatta is a Bloomberg Opinion columnist covering debt markets. He previously covered bonds for Bloomberg News. He is also a CFA charterholder.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Much like Taco Tuesday, WEGGSDAY embraces the popularity of marrying a day of the week with a popular food. To launch the campaign — the latest in the American Egg Board’s “How Do You Like Your Eggs” platform — the American Egg Board created a two-minute original music video, titled “Wednesday Is Officially WEGGSDAY!” The animated video, that will be officially launched on June 3rd, also highlights the versatility of eggs, reminding consumers that eggs are a great meal solution beyond just breakfast. “Consumers are insatiably hungry for ideas about what to make for their meals, now more than ever, and by highlighting the versatility, nutritional value and ease of preparation of eggs on WEGGSDAY, The Incredible Egg is providing a perfect solution,” Gruszkievicz added.
NEW YORK , May 26, 2020 /CNW/ -- Omnicom Media Group agency OMD Worldwide announced today that is has been named a Leader in the recent Forrester Wave™ evaluation of top global media agencies. Leader is the highest of the four categories - Leaders, Strong Performers, Contenders and Challengers – identified by Forrester, a leading research and advisory firm, in the report. Released today, The Forrester Wave™: Global Media Agencies, Q2 2020 evaluated the offerings of the 10 most significant media agencies based on 29 criteria across current offering, strategy, and market presence.
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NEW YORK, April 29, 2020 (GLOBE NEWSWIRE) -- sparks & honey, the technology-led cultural consultancy, announced today the newest additions to its Advisory Board, the one-of-a-kind brain trust with specialized expertise across more than 60 industries. The new Board members include philanthropist, social impact investor and author Carrie Morgridge and serial entrepreneur, venture investor and current CEO of Loeb.nyc, Michael Loeb.
The advertising giant said it had over $2.6 billion in cash and $2.9 billion in credit facility to tide over the virus crisis. Shares of Omnicom were up 3.3% in morning trading. The company, which counts McDonald's, Johnson & Johnson and Volkswagen as clients, said that stay-at-home orders and store closures led to the decline and added it expects the trend to continue for the year.
NEW YORK, April 27, 2020 (GLOBE NEWSWIRE) -- sparks & honey, the technology-led cultural consultancy, announced today the newest additions to its Advisory Board, the one-of-a-kind brain trust with specialized expertise across more than 60 industries. The new Board members include philanthropist, social impact investor and author Carrie Morgridge and serial entrepreneur, venture investor and current CEO of Loeb.nyc, Michael Loeb.
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NEW YORK , Feb. 25, 2020 /CNW/ -- Omnicom Media Group agency OMD Worldwide had the best net new business performance of any global media network in 2019 as reported today by COMvergence, the international independent research company. In the COMvergence Media Agency New Business Barometer report released today, OMD tops the ranking with $2.027b in net new business values; and it also leads the US market -- the world's largest by advertising spend - with $1.4b in net new business. The COMvergence New Business Barometer completes a trifecta of first- place net new business rankings for OMD in 2019, following reports from global consultancy R3 and media agency research company RECMA published earlier this year.
Omnicom's (OMC) fourth-quarter 2019 revenues are likely to have been impacted by decline in acquisition revenues, net of disposition revenues and unfavorable foreign exchange movements.
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Republic Services (RSG) is at a 52-week high, but can investors hope for more gains in the future? We take a look at the company's fundamentals for clues.
The traditional ways to plan for your retirement may mean income can no longer cover expenses post-employment. But what if there was another option that could provide a steady, reliable source of income in your nest egg years?