Listed on the New York Stock Exchange, shares in Interpublic fell by 64 cents in morning trading to trade at $11.97 after JP Morgan downgraded its shares from "neutral" to "underweight".
The company has been tipped to announce this week details of offers it has received on the NFO WorldGroup market research unit it is selling, as it attempts to shore up its finances. United Business Media and WPP Group have both been mentioned as possible buyers.
It is also reported to be considering folding the Bozell advertising agency into Lowe & Partners Worldwide, as it seeks to cut costs and return to profitability.
Interpublic is facing a formal investigation over $181.3m (拢114m) in overstated revenues, mainly stemming from revenue being double-booked at offices in the McCann-Erickson Europe network. The company's senior management, including chairman and CEO John Dooner and chief financial officer Sean Orr, face lawsuits from disgruntled shareholders.
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