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Facebook is subjecting agencies pitching for its $1 billion ad budget to unusual scrutiny by auditing their digital advertising practices

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Mark Zuckerberg
Facebook CEO Mark Zuckerberg.

  • Facebook plans to audit advertising companies as it seeks an agency to handle its $1 billion ad business.
  • Marketers have increased scrutiny of their advertising since a 2016 report revealed shady agency practices.
  • WPP, Publicis, Dentsu, and Havas are vying for the business.
  • See more stories on Insider’s business page.

Facebook will audit four of the largest advertising companies as part of its search for a new ad agency.

The social giant plans to audit WPP, Publicis, Dentsu, and Havas with a focus on their programmatic ad buying and other services, said two people with direct knowledge. Consulting firm ID Comms is conducting the audit and agency search.

One person close to the pitch said it’s somewhat unusual for a company to audit prospective ad agencies. But some big advertisers have increased scrutiny of their ad spending since a 2016 report revealed that many publishers and platforms paid kickbacks to ad agencies.

A Facebook spokeswoman said it would evaluate everything from agencies’ tech tools to their ad-buying strategies and that it was conducting the audit because this was the first time it’s reviewed its ad-buying business.

Facebook will conduct a four-week assessment of the agencies’ live programmatic ad-buying as part of its review, said the people with direct knowledge. Programmatic ad-buying is known for a lack of transparency and potential for fraud; the Association of National Advertisers just launched a study to improve the process.

Another one of the sources said the audit would evaluate things like the price of the ad companies’ services and the fees they would make.

The winning agency, which Facebook is expected to pick by September, stands to oversee around $1 billion in annual ad spending, said one of the sources with direct knowledge. Two other people said Omnicom could not participate because it has Google and Apple as clients and that IPG was invited to pitch but declined.

Representatives for the four advertising companies, Omnicom, and IPG either declined to comment or did not respond.

Facebook has significantly increased its ad spending over the past few years and ran its first Super Bowl campaign in 2020. Recent ads have positioned the company as an advocate of increased regulation of social media.

Ad agency searches often follow the naming of a new CMO. Facebook recently named Alex Schultz to replace Antonio Lucio, who stepped down as CMO last September.

WPP-owned agency Mindshare has handled the bulk of Facebook’s media-buying for several years, with Dentsu managing some of the business.

Facebook is also searching for new agencies to create its ads.

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Source: https://markets.businessinsider.com/news/stocks/facebook-to-audit-4-advertising-companies-in-ad-agency-search-2021-4-1030370575

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62 Biggest Movers From Yesterday

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Gainers

  • Curis, Inc. (NASDAQ:CRIS) shares surged 65.5% to settle at $16.27 on Wednesday in reaction to updated data from its ongoing open-label, single-arm, Phase 1/2 study of CA-4948 in patients with acute myeloid leukemia (AML) or high-risk myelodysplastic syndromes (MDS). The company also released quarterly results after the closing bell on Wednesday.
  • Lucira Health, Inc. (NASDAQ:LHDX) jumped 44.2% to close at $7.34 on Wednesday. Lucira said its Lucira CHECK IT COVID-19 test kit is now available on Amazon, Inc. in the US.
  • Autolus Therapeutics plc (NASDAQ:AUTL) jumped 35.5% to close at $6.76.
  • Summit Wireless Technologies, Inc. (NASDAQ:WISA) gained 31% to settle at $3.38 after the company issued Q2 sales guidance up 250%.
  • Second Sight Medical Products, Inc. (NASDAQ:EYES) jumped 27.6% to settle at $6.38 after the company disclosed two-year results of Orion study.
  • ShotSpotter, Inc. (NASDAQ:SSTI) jumped 25.4% to close at $38.67 following Q1 results. Craig-Hallum upgraded ShotSpotter from Hold to Buy and raised the price target from $40 to $45.
  • Barnwell Industries, Inc. (NYSE:BRN) rose 24% to close at $3.31 following Q2 results.
  • Larimar Therapeutics, Inc. (NASDAQ:LRMR) jumped 23.7% to settle at $10.34, rebounding after the stock fell on Tuesday due to safety concerns from the non-human primate studies for its CTI-1601 program.
  • Ra Medical Systems, Inc. (NASDAQ:RMED) shares gained 18.1% to $3.92 after the company reported better-than-expected Q1 results.
  • Mesa Royalty Trust (NYSE:MTR) gained 18.1% to settle at $5.07.
  • Harrow Health, Inc. (NASDAQ:HROW) jumped 16.4% to close at $9.08 after the company reported better-than-expected Q1 results.
  • Minerva Neurosciences, Inc. (NASDAQ:NERV) climbed 15.7% to settle at $2.58 after the company announced results from the 40-week open-label extension of its phase 3 trial of roluperidone for the treatment of negative symptoms of schizophrenia.
  • Lightbridge Corporation (NASDAQ:LTBR) rose 15.2% to close at $5.24 after the company posted a narrower quarterly loss.
  • Wheeler Real Estate Investment Trust, Inc. (NASDAQ:WHLR) surged 15% to close at $4.21.
  • iPower, Inc. (NASDAQ:IPW) gained 14.8% to settle at $5.74 after the company priced its IPO at $5 per share.
  • Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) surged 14.6% to close at $3.69 in sympathy with Curis after the company reported an updated data in 2 abstracts for CA-4948 accepted for presentation at the European hematology association 2021 virtual congress.
  • Burning Rock Biotech Limited (NASDAQ:BNR) gained 14.2% to close at $29.85.
  • eGain Corporation (NASDAQ:EGAN) jumped 14% to settle at $10.26 after reporting Q3 results.
  • The ONE Group Hospitality, Inc. (NASDAQ:STKS) gained 13.5% to close at $11.38 after the company reported better-than-expected Q1 results.
  • Ideal Power Inc. (NASDAQ:IPWR) gained 13.3% to settle at $7.83.
  • Obalon Therapeutics, Inc. (NASDAQ:OBLN) jumped 13.3% to close at $3.32 following narrower quarterly loss.
  • Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) gained 12.9% to close at $24.48 after the company posted a narrower Q1 loss.
  • Nemaura Medical Inc. (NASDAQ:NMRD) rose 11.1% to close at $10.06 after gaining 14% on Tuesday.
  • Biomerica, Inc. (NASDAQ:BMRA) shares jumped 10.9% to settle at $3.78. Biomerica recently said its COVID-19 antigen rapid test can be performed with a nasal swab.
  • SandRidge Energy, Inc. (NYSE:SD) gained 10.4% to close at $4.90.
  • fuboTV Inc. (NYSE:FUBO) surged 9.7% to close at $19.38 after the company reported better-than-expected Q1 sales and issued strong sales guidance.
  • CVR Energy, Inc. (NYSE:CVI) rose 8.5% to close at $22.77 after the company reported a $492 million special dividend. The company also reported it is interested in renewable fuels and is no longer interested in buying another crude oil refinery.
  • Comstock Holding Companies, Inc. (NASDAQ:CHCI) gained 8.4% to close at $6.17.
  • New Concept Energy, Inc. (NYSE:GBR) gained 8% to settle at $4.31.
  • The Hackett Group, Inc. (NASDAQ:HCKT) gained 6.8% to close at $17.12 following strong quarterly results.

Check out these big penny stock gainers and losers

Losers

  • Array Technologies, Inc. (NASDAQ:ARRY) shares tumbled 46.1% to close at $13.46 on Wednesday after the company reported worse-than-expected Q1 earnings. The company also reported it is unable to affirm previously provided guidance for FY21. Roth Capital, Barclays and Piper Sandler downgraded the stock.
  • Lianluo Smart Limited (NASDAQ:LLIT) shares tumbled 37.9% to close at $6.04 on Wednesday.
  • FTC Solar, Inc. (NASDAQ:FTCI) dipped 25.1% to close at $8.76. FTC Solar, last month, priced 19.84 million shares at $13 per share to raise $257.92 million in its initial public offering (IPO).
  • Sonim Technologies, Inc. (NASDAQ:SONM) fell 22.8% to close at $0.4789 after the company reported worse-than-expected Q1 results.
  • Navios Maritime Holdings Inc. (NYSE:NM) dropped 22% to settle at $8.21.
  • SelectQuote, Inc. (NYSE:SLQT) fell 20.1% to settle at $21.90 after the company reported downbeat Q3 earnings.
  • CuriosityStream Inc. (NASDAQ:CURI) shares fell 19.7% to close at $8.98 after the company reported downbeat Q1 results and said it has acquired One Day University.
  • Grocery Outlet Holding Corp. (NASDAQ:GO) fell 18.5% to close at $33.03 after the company reported weak Q1 sales. Deutsche Bank also downgraded the stock from Buy to Hold and announced a price target of $37 per share.
  • Lemonade, Inc. (NASDAQ:LMND) fell 18.5% to settle at $60.17 after the company reported Q1 results.
  • InflaRx N.V. (NASDAQ:IFRX) dipped 17.9% to close at $2.85 after the company reported Q1 earnings results.
  • Wix.com Ltd. (NASDAQ:WIX) fell 17.3% to close at $239.68 after the company issued Q2 sales guidance below analyst estimates.
  • Lumentum Holdings Inc. (NASDAQ:LITE) dropped 16.9% to close at $68.24 after the company reported downbeat quarterly sales and issued weak Q4 outlook.
  • Praxis Precision Medicines, Inc. (NASDAQ:PRAX) fell 16.3% to close at $21.63 after the company reported a 4 million share common stock offering.
  • Revolve Group, Inc. (NASDAQ:RVLV) dropped 16.3% to settle at $41.97.
  • Aemetis, Inc. (NASDAQ:AMTX) fell 16.3% to close at $10.41 after reporting Q1 results.
  • SemiLEDs Corporation (NASDAQ:LEDS) dropped 16.1% to close at $7.40.
  • VerifyMe, Inc. (NASDAQ:VRME) fell 15.8% to settle at $3.36.
  • Bridgford Foods Corporation (NASDAQ:BRID) fell 15.1% to close at $17.60.
  • Esports Entertainment Group, Inc. (NASDAQ:GMBL) tumbled 15.1% to settle at $9.51.
  • Kiromic BioPharma, Inc. (NASDAQ:KRBP) dropped 14.9% to close at $6.06.
  • Dunxin Financial Holdings Limited (NYSE:DXF) tumbled 14.8% to close at $2.07.
  • Futu Holdings Limited (NASDAQ:FUTU) fell 14.8% to close at $109.02 amid overall market weakness.
  • InnSuites Hospitality Trust (NYSE:IHT) shares fell 14.7% to close at $5.63. The stock has been moving for several days.
  • Exagen Inc. (NASDAQ:XGN) dipped 14.7% to settle at $12.85 following Q1 earnings.
  • Hovnanian Enterprises, Inc. (NYSE:HOV) fell 14.4% to close at $109.18.
  • Paysign Inc (NASDAQ:PAYS) shares fell 13.6% to close at $3.04 after the company reported worse-than-expected Q1 results and issued weak FY21 sales guidance.
  • Graybug Vision, Inc. (NASDAQ:GRAY) dropped 13.1% to close at $4.11 after jumping 11% on Tuesday.
  • Opendoor Technologies Inc. (NASDAQ:OPEN) fell 13% to settle at $15.18 after the company reported Q1 results.
  • Bright Scholar Education Holdings Limited (NYSE:BEDU) fell 12.8% to close at $4.15 after Morgan Stanley downgraded the stock from Equal-Weight to Underweight and announced a price target of $2.70 per share.
  • Greenland Technologies Holding Corporation (NASDAQ:GTEC) shares declined 8.8% to close at $6.96 after reporting Q1 results.
  • HF Foods Group Inc. (NASDAQ:HFFG) fell 6.8% to settle at $6.45. The company recent released Q1 results.
  • Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) fell 6.6% to close at $3.52 after the company reported Q1 results.

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Source: https://markets.businessinsider.com/news/stocks/62-biggest-movers-from-yesterday-1030424999

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DAX Resumes Slide On Inflation Worries

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(RTTNews) – German stocks fell sharply on Thursday as overnight data showing a sharp rise in U.S. consumer prices triggered concerns over whether the Federal Reserve will be forced to change its policy stance.

It is feared that an increase in inflationary pressure could derail economic recovery from the coronavirus pandemic.

Investors now await U.S. producer price data and weekly jobless claims figures, due later in the day for further insights into economic recovery and the inflation outlook.

The benchmark DAX fell 314 points, or 2.1 percent, to 14,835 after closing 0.2 percent higher in the previous session.

Automakers BMW, Daimler and Volkswagen tumbled 3-4 percent while lender Deutsche Bank lost 2.8 percent.

Tech stocks extended recent declines, with Infineon Technologies losing nearly 2 percent.

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Source: https://markets.businessinsider.com/news/stocks/dax-resumes-slide-on-inflation-worries-1030424976

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5th WIC: At the forefront of innovation

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BEIJING, May 13, 2021 /PRNewswire/ — A news report by China.org.cn on the 5th World Intelligence Conference:

The 5th World Intelligence Congress (WIC) will take place in the northern Chinese city of Tianjin in late May.

The WIC, now in its fifth year, is constantly updating itself. This year, apart from the traditional series of conferences, exhibitions, competitions and smart tech experiences — as per pandemic control requirements — a special exhibition area will be set up for guest cities and countries of honor and international guests will be invited to visit the exhibitions and share their wisdom. In addition, the International Intelligent Sports Congress, an annual event during the WIC, will join hands with the world-famous Tencent Esports Honor of Kings regional contest in northern China for the first time this year to explore new fields and attract the younger generation. These changes all fit the WIC’s theme of “New Era of Intelligence: Empowering New Development, Fostering New Pattern.”

The original aim of the WIC was to develop China’s intelligence industry. As the organizers have gained experience and pioneered new ways of hosting the event, the Congress has gradually become a platform where cutting-edge technology and innovative ideas collide, with companies from around the world playing an important role. As it continues to innovate, the platform has truly promoted exchanges in the global intelligence industry, and fostered greater and deeper cooperation.

The host city Tianjin reflects the organizing principles of the WIC. As one of the first cities to industrialize in China, it boasts a long history and is constantly seeking innovation. The Tianhe Supercomputer and the brain-computer interface chip Brain Talker, are just two of the achievements to come out of the innovative Tianjin. Besides the intelligence industry, the “Tianjin National IT Innovation Valley” built by the city in recent years has attracted almost a thousand companies. Efforts are currently underway to create a 100 billion yuan-scale IT application and innovation industry cluster with a model of “gathering companies together, empowered by platform, driven by application, and making breakthroughs by groups.” In order to achieve sustainable innovation, Tianjin has also promoted the construction of science parks in universities. Tianjin aims to build five municipal-level university science parks by 2023 to integrate resources of universities and other social sectors to provide impetus for innovation and industrial development.

The WIC is a microcosm that represents the vision of Tianjin and China in promoting exchanges nationwide and worldwide, jointly promoting innovation, sharing outcomes, and achieving win-win progress. With the aim of building a community with a shared future for mankind, Tianjin, and China as a whole, are willing to work hand in hand with other countries.

China Mosaic
https://www.china.org.cn/video/node_7230027.htm

5th WIC: At the forefront of innovation
https://www.china.org.cn/video/2021-05/13/content_77494187.htm

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/5th-wic-at-the-forefront-of-innovation-301290611.html

SOURCE China.org.cn

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Source: https://markets.businessinsider.com/news/stocks/5th-wic-at-the-forefront-of-innovation-1030424990

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Business Insider

5th WIC: At the forefront of innovation

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Published

on

BEIJING, May 13, 2021 /CNW/ — A news report by China.org.cn on the 5th World Intelligence Conference:

The 5th World Intelligence Congress (WIC) will take place in the northern Chinese city of Tianjin in late May.

The WIC, now in its fifth year, is constantly updating itself. This year, apart from the traditional series of conferences, exhibitions, competitions and smart tech experiences — as per pandemic control requirements — a special exhibition area will be set up for guest cities and countries of honor and international guests will be invited to visit the exhibitions and share their wisdom. In addition, the International Intelligent Sports Congress, an annual event during the WIC, will join hands with the world-famous Tencent Esports Honor of Kings regional contest in northern China for the first time this year to explore new fields and attract the younger generation. These changes all fit the WIC’s theme of “New Era of Intelligence: Empowering New Development, Fostering New Pattern.”

The original aim of the WIC was to develop China’s intelligence industry. As the organizers have gained experience and pioneered new ways of hosting the event, the Congress has gradually become a platform where cutting-edge technology and innovative ideas collide, with companies from around the world playing an important role. As it continues to innovate, the platform has truly promoted exchanges in the global intelligence industry, and fostered greater and deeper cooperation.

The host city Tianjin reflects the organizing principles of the WIC. As one of the first cities to industrialize in China, it boasts a long history and is constantly seeking innovation. The Tianhe Supercomputer and the brain-computer interface chip Brain Talker, are just two of the achievements to come out of the innovative Tianjin. Besides the intelligence industry, the “Tianjin National IT Innovation Valley” built by the city in recent years has attracted almost a thousand companies. Efforts are currently underway to create a 100 billion yuan-scale IT application and innovation industry cluster with a model of “gathering companies together, empowered by platform, driven by application, and making breakthroughs by groups.” In order to achieve sustainable innovation, Tianjin has also promoted the construction of science parks in universities. Tianjin aims to build five municipal-level university science parks by 2023 to integrate resources of universities and other social sectors to provide impetus for innovation and industrial development.

The WIC is a microcosm that represents the vision of Tianjin and China in promoting exchanges nationwide and worldwide, jointly promoting innovation, sharing outcomes, and achieving win-win progress. With the aim of building a community with a shared future for mankind, Tianjin, and China as a whole, are willing to work hand in hand with other countries.

China Mosaic
https://www.china.org.cn/video/node_7230027.htm

5th WIC: At the forefront of innovation
https://www.china.org.cn/video/2021-05/13/content_77494187.htm

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/5th-wic-at-the-forefront-of-innovation-301290611.html

SOURCE China.org.cn

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://markets.businessinsider.com/news/stocks/5th-wic-at-the-forefront-of-innovation-1030424988

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