From Cazenova just now .... DYOR .... but quick :)

WPP - upgrade to OUTPERFORM - interims due 26 Aug which we expect to be strong, reflecting gd Q2 fig's already reported by peers. We see potential for EPS upgrades of up to 5%-10% N/T (combination of top line, margin & US$). L/T we expect EPS growth of up to 17%-18% pa before maturing at 11%-12% pa. Key risks are (1) further M&A (2) prem valuation (17.1x 06 EPS before any upgrade), representing a 31% prem to UK mkt & 33% to UK media sector. Despite this we still believe it has room to outperform. Our DCF valuation gives 760p, 28% upside from here.

a drop of 8% looks ridiculously o'done to me and, unusually for this stock, i think there is a profitable trade to be done ...... have bought accordingly at 1758

OUCH!!
could have done without a 2nd set of poor figures from these guys

Credit Suisse today reaffirms its outperform investment rating on WPP Group PLC (LON:WPP) and cut its price target to 1600p (from 1920p).

HSBC today reaffirms its buy investment rating on WPP Group PLC (LON:WPP) and cut its price target to 1850p (from 2000p).

1250p(ish) looks a strong possibility barring a miracle.

Support from 16-10-2014

See how we open next week and may be a short term trade to the upside.

StockMarketWire.com
Advertising giant WPP booked an 8.6% rise in first-half profit after one-off gains from assets sales offset a fall in revenue.

Pre-tax profit for the six months through June rose to £846m, even as revenue fell 2.1% at £7.493bn.

The fall in revenue was due to currency headwinds, with revenue on a constant currency basis rising 2.9% and on a like-for-like basis rising 1.6%.

Underlying pre-tax profit fell by 7.0%, or 2.3% in constant currency terms, after operating margins contracted by 0.5% percentage points to 13.3%.

WPP left its interim dividend unchanged at 22.7p per share.

'The second quarter of 2018 was WPP's first quarter of like-for-like growth since the first quarter of 2017, and the company has performed strongly in terms of winning and retaining business over the period,' new chief executive Mark Read said.

'We have focused our efforts on providing more effectively integrated solutions to clients and, in competitive pitches, we have won or grown business with clients including Adidas, Hilton, Mars, Mondelez, Shell and T-Mobile.'

Read said a new mix of performance by by geography and function -- and a decision to invest in the growing areas of its business -- resulted in a slightly lower headline profit margin.

'As chief executive, my focus will be on invigorating our company and returning the business to stronger, sustainable growth,' he said.

'Our review of strategy is underway, addressing our structure, our underperforming operations, particularly in the United States, and how we position the company for the future.'

'We will provide an update by the year end.'

StockMarketWire.com
Global advertising and PR company WPP reported a continued slowdown in the third quarter, impacted by further weakening of the performance of its North American businesses and creative agencies, against a backdrop of structural change in the industry.

Third-quarter reported revenue fell 0.8% to £3.758bn, impacted by currency headwinds of 2%, while nine-month reported revenue slid 1.6% to £11.251bn.

"Turning around WPP requires decisive action and radical thinking, and our performance in the third quarter of 2018 reinforces our belief in that approach," said CEO Mark Read, who took up the position in September.

"As previously stated, our industry is facing structural change, not structural decline, but in the past we have been too slow to adapt, become too complicated and have under-invested in core parts of our business," he added.

The company has already begun implementing its previously identified strategy to simplify the firm and has made 16 disposals to date, primarily of non-core investments, raising £704m. As a result of this, and a renewed focus on working capital, the firm has reduced its net debt to £925m compared to the same period last year.

The company still believed there was a "significant opportunity" to develop its Kantar market research arm into the world's leading data, insights and consulting company, but said the best way to unlock this potential would be with a strategic or financial partner. The Board had approved a formal process to review the strategic options that will maximise share owner value, with WPP expected to remain a share owner with strategic links. Preparations were underway, involving Kantar management, and unsolicited expressions of interest had been received.

In other company news, Group Finance Director, Paul Richardson, had decided to retire after 22 years. He would leave in 2019, working with WPP to ensure a smooth transition as we appoint his successor.