Market Overview

Omnicom Shares Erase Gains as Traders Show Doubt Related to Deal with Publicis

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Shares of Omnicom Group (NYSE: OMC) have sold off very sharply over Monday's trading session, moving from as high as $70.50 (up more than 7.4 percent) to now under $65 (down about 0.7 percent from Friday's close). While traders initially cheered the deal between Omnicom and Publicis, a bit of skepticism from several sources has traders taking profits heading into the close.

  • The Group CEO of WPP plc (NASDAQ: WPPGY), Martin Sorrell, earlier said the deal between Omincom and Publicis did not "add up.";
  • Goldman Sachs' Drew Borst warned the corporate cultures of Omnicom and Publicis could clash; and,
  • Macquarie's Tim Nollen pointed at likely regulatory and/or client conflictions.

Latest Ratings for OMC

DateFirmActionFromTo
Nov 2020Evercore ISI GroupUpgradesUnderperformIn-Line
Oct 2020MoffettNathansonUpgradesSellNeutral
Oct 2020Wells FargoMaintainsEqual-Weight

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