Reuters first with news that BofA needed $34 billion in additional capital

Reuters had a major win on May 5 with headlines that Bank of America will need to raise a whopping $34 billion in additional capital to shore up its balance sheet. The news initially sent BofA shares down 10 percent in premarket trade. It may put even more pressure on embattled BofA CEO, Ken Lewis, who just lost his Chairman post over the Merrill bonus saga and his claims the bank will not need more government funds. Washington correspondent Karey Wutkowski worked a source close to the stress test results to land the market moving news, which was matched later in the evening by the FT, Bloomberg, the Wall Street Journal and New York Times. Bloomberg attributed a rise in U.S. Treasury futures to the Reuters scoop in its market report.