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Stock Market & Financial Investment News

News Breaks
May 9, 2014
05:07 EDTOMC, PUBGYOmnicom, Publicis agree to terminate proposed merger of equals
Publicis Groupe S.A. (PUBGY) and Omnicom Group (OMC) jointly announced that they have terminated their proposed merger of equals by mutual agreement, in view of difficulties in completing the transaction within a reasonable timeframe. The parties have released each other from all obligations with respect to the proposed transaction, and no termination fees will be payable by either party. This decision was unanimously approved by the management board and the supervisory board of Publicis Groupe and the board of Omnicom.
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July 24, 2014
11:09 EDTOMC, PUBGYElliott to call on Interpublic to sell to rival, DealBook says
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July 22, 2014
06:52 EDTOMCOmnicom reports Q2 EPS$1.23, consensus $1.17
Reports Q2 revenue $3.87B, consensus $3.8B. Q2 results include $1.8M of pre-tax charges in connection with the proposed merger with Publicis, which are primarily comprised of professional fees. In addition, the effective tax rate for the second quarter reflects the recognition of an income tax benefit of $11.2M related to previously incurred expenses for the proposed merger with Publicis. On May 8, the proposed merger with Publicis was terminated. Prior to the termination of the merger, the majority of the merger costs were capitalized for income tax purposes and the related tax benefits were not recorded. Because the merger was terminated, the merger costs were no longer required to be capitalized for income tax purposes. The net impact of these items on net income available to common shareholders in the second quarter was $9.2M. The impact on diluted EPS was 3c per common share.
06:19 EDTOMC, PUBGYPublicis says might miss FY sales growth target, WSJ reports
Maurice Levy, the CEO of Publicis, says the company may not be able to achieve its FY sales growth target of 4% or more organic revenue growth, the Wall Street Journal reports. Levy says the group's performance has been affected by teams "at times being distracted" by plans to merge with Omnicom (OMC). Publicis and Omnicom called off their proposed $35B merger in May. Reference Link
July 21, 2014
08:11 EDTOMCOmnicom's DAS Group of Companies acquires minority interest in InPress
July 17, 2014
11:00 EDTOMCHigh option volume stocks
High option volume stocks: OMC FXC TSEM JRJC MAT MTG PRAN SEAS BURL

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