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Why Advertising Growth Forecasts Are Looking More Bullish
Advertising-supported media stocks soared on Monday and Wednesday as the stock market rallied sharply as the fiscal cliff negotiations led to a deal. Estimates for 2013 advertising growth had been coming down steadily since summer.  Mostly prognosticators including Wall Street analysts were focused on the possibility of a weak consumer spending environment in early 2013 if tax increases kicked in. The final agreement does raise taxes sharply on income above $400 000 for individuals and $450 000 for joint filers. This impacts less than 2% of households. Lower and middle income taxpayers did not avoid a tax increase. The ...
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