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Ad Giant Interpublic Tumbles, Drags Sector Lower After Warning About State Of Ad Industry

Ad Giant Interpublic Tumbles, Drags Sector Lower After Warning About State Of Ad Industry

Amid the Dow Jones making fresh all time highs on the back of solid earnings by key Dow components, a largely unreported adverse development for the critical - for tech companies - ad sector has gone largely unnoticed this morning, when ad giant Interpublic reported a miss on 3Q adjusted EPS and revenue estimates, with CEO Michael Roth warning that "organic revenue was negatively impacted by broader trends that are being felt throughout much of the industry."

Interpublic now sees FY organic revenue growth of 1%-2%, below Jefferies' estimate of 2.1%.

Apple To Cut 2017 iPhone X Shipments In Half As Even Wozniak Says "I'd Rather Wait"

Apple To Cut 2017 iPhone X Shipments In Half As Even Wozniak Says "I'd Rather Wait"

After reports the iPhone 7 was outselling the iPhone 8 sent Apple’s stock lower on Wednesday, more troubling news about the company’s complication-plagued supply chain for the iPhone X, its special tenth anniversary model, emerged this morning courtesy of Nikkei, which is reporting the company has halved its planned shipments for the number of iPhone X’s it will sell by year’s end to 20 million.

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