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Interpublic Joins Coalition to Address Coronavirus-Related Issues

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The Interpublic Group of Companies, Inc. (IPG - Free Report) announced on Wednesday that it has become part of a coalition of 90 companies and NGO partners with a view to address equality, diversity and inclusion issues around COVID-19.

The company’s main goals are to castigate anti-Asian sentiment and promote awareness about the pandemic’s impact on vulnerable groups.

The coalition has a five-point agenda that includes promoting diverse and inclusive workplace, raising awareness about the distinctive impacts of the coronavirus outbreak on susceptible groups, encouraging people to report disease-related discriminatory acts, providing time and knowledge support to communities, and fund support to communities and businesses.

As part of its stand against biasness, Interpublic’s Asian Heritage Group has hosted a virtual town hall — #WashTheHate. The company’s Black Employee Network (“BEN”) has also collaborated with the New York Urban League to host town halls. The company has planned similar activities through May.

Such moves indicate Interpublic’s strong denunciation against discrimination and biasness, and support for communities.

“We know there is a disproportionate impact on marginalized communities, and we want to ensure that we are doing our part to support these communities and their efforts,” said Heide Gardner, IPG’s senior vice president, chief diversity and inclusion officer.

Shares of Interpublic have depreciated 33.5% year to date compared with the 46.7% decline of the industry it belongs to.

Zacks Rank and Stocks to Consider

Interpublic currently carries a Zacks Rank #4 (Sell).

Some better-ranked stocks in the broader Business Services sector are CoreLogic (CLGX - Free Report) , DocuSign (DOCU - Free Report) and SailPoint Technologies (SAIL - Free Report) , each carrying a Zacks rank #2 (Buy), at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The long-term expected EPS (three to five years) growth rate for CoreLogic, DocuSign and SailPoint is 12%, 46.8% and 15% respectively.

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