Economic Uncertainties Batter Trading in These 10 Firms

8. Omnicom Group Inc. (NYSE:OMC)

Omnicom Group fell by 7.28 percent on Wednesday to close at $71.24 apiece after the advertising holding firm lowered its organic growth projections this year amid the ongoing market uncertainties.

OMC, which owns agencies such as BBDO, OMD, and TBWA, now expects organic growth to settle between 2.5 percent and 4.5 percent, a reduction from the 3.5 to 4.5 percent range as projected previously.

“As you’re all keenly aware, there’s been increased volatility in the economy and the markets. We’re assessing the implications of these events to determine how they will affect our clients and our business,” said OMC Chief Executive Officer John Wren during the company’s earnings call.

In the first quarter of the year, revenues stood at $3.7 billion, higher by 1.6 percent versus the same period last year.