Interpublic Group: 2Q profit $145.8M
Interpublic Group of Cos., the New York advertising firm that announced this month that it plans to buy Acxiom's marketing solutions division, reported Tuesday a second-quarter profit of $145.8 million, up 35 percent from $107.7 million in the same period last year.
Interpublic earned 37 cents per share, missing the average estimate of 43 cents a share projected by 12 analysts surveyed by Thomson Reuters. Interpublic earned 27 cents per share in the second quarter last year.
Shares of Interpublic closed Tuesday at $21.82 per share, down 16 cents in trading on the New York Stock Exchange.
Interpublic had total revenue of $2.4 billion in the second quarter, up from $2.2 billion in the same period of 2017.
The announcement to buy the Acxiom division "means that we are well-positioned to execute on the many opportunities that come with unrivaled industry resources in data management -- capabilities that are key to driving future growth for our clients," said Michael Roth, Interpublic's chairman and chief executive officer.
-- David Smith
Walmart giving $2M for youth internships
Walmart is giving $2 million in grants to fund Capitol Hill internships for black and Hispanic youths.
The retailer will give the Congressional Black Caucus Foundation and the Congressional Hispanic Caucus Institute each $1 million over three years. Walmart has already given more than $4 million to the two nonprofits in the past few years, a company spokesman said Tuesday.
Julie Gehrki, Walmart's vice president of programs, said the donations are intended to "help more young people build a career in public service ... by providing our future leaders with the tools needed for success."
One grant will provide Hispanic undergraduates with paid spring or summer congressional internships. The other will go toward intern housing, monthly stipends, and professional development and leadership training for black college students and young professionals.
-- Serenah McKay
Arkansas Index dips, sees 13 stocks slide
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, tumbled 8.94 to 430.01 Tuesday.
Thirteen stocks on the index fell.
"A nice Tuesday session for the Dow Jones industrial average and S&P 500 thanks to another day of strong earnings," said Chris Harkins, managing director with Raymond James & Associates in Little Rock.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 07/25/2018