For Immediate Release
Chicago, IL – August 11, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Microsoft (MSFT), Ford Motor Co. (F), AT&T (T), Kraft Foods (KFT) and Best Buy Co. (BBY).
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Here are highlights from Monday’s Analyst Blog:
Microsoft Sells Razorfish
Yesterday, Microsoft (MSFT) announced the sale of Razorfish, the digital advertising firm it received as part of the aQuantive acquisition in 2007. The consideration to be paid by Publicis Group, the acquirer, is around $530 million, partly in the form of cash and partly in 6.5 million Publicis Groupe treasury shares.
The agreement creates a win-win situation. Publicis Groupe gets to acquire a digital advertising company, which effectively transforms a quarter of its business to the digital model. With Internet usage increasing the world over, digital advertising is assuming increasing importance in today’s world. The price is also reasonable, given that the company generated around $400 million in revenues in 2008, and is expected to generate $360-370 million in 2009.
The revenue decline is recession-related and does not indicate loss of position at customers. In fact, Razorfish’s customer base is another positive, as the company serves several big names such as Ford Motor Co. (F), AT&T (T), Kraft Foods (KFT), Best Buy Co. (BBY), Levi Strauss & Co. and Mercedes-Benz USA.
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