NEW YORK (TheStreet) -- Shares of Omnicom Group (OMC) are down -1.99% to $70.07 after CEO John Wren said he was was unable to predict when its $35.1 billion merger with France's Publicis Groupe SA (PUBGY) would close. Reuters reports.
The deal reportedly hasn't won some key approvals.
Yesterday, the advertising agency reported that 2014 first quarter revenue increased 3.0% to $3,502.2 million from $3,398.9 million in the first quarter of 2013.
Net income available for common shareholders was $201.4 million, or 77 cents per share, from $199.7 million, or 76 cents per share, a year earlier.
TheStreet Ratings team rates OMNICOM GROUP as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate OMNICOM GROUP (OMC) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, solid stock price performance, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income."