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Strategies & Market Trends : Working All Day, But Trading Behind the Bosses Back Thread

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To: Mark[ox5] who wrote (444)	2/5/1999 11:11:00 PM
From: puborectalis	Read Replies (1) of 779

Online advertising firm Modem Media.Poppe Tyson (Nasdaq:MMPT - news) jumped $29 to $45 after selling 2.6 million shares at $16 per stub amid a hectic day for initial public offerings. The company's client list runs the gamut from today's Internet darlings, such as E*Trade Group (Nasdaq:EGRP - news) , to corporate titans from yester-year, such as J.C. Penney (NYSE:JCP - news) . With some nice support on the sidelines from 53%-owner True North Communications (NYSE:TNO - news) , Modem Media looks poised to storm the advertising playing field at a time when the industry's near-term growth prospects look quite bright. Lending support to the rosy outlook for advertising today was Morgan Stanley Dean Witter, which raised its rating on Ogilvy & Mather and J. Walter Thompson parent WPP Group (Nasdaq:WPPGY - news) to "outperform" from "neutral" based on the strong U.S. economy, sending that company's shares up $2 1/16 to $77 13/16.

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