Reuters first to report on Foxconn forecast; shares surge 15 percent

Shares of the world’s top contract handset maker Foxconn jumped as much as 15 percent on May 18 after Reuters reported ahead of everyone else that the loss-making Taiwanese firm expects to see a dramatic improvement in its 2011 results.The comments were made by Foxconn Chairman Samuel Chin to reporters after a shareholders meeting, which led the companys shares to their biggest daily gain in more than a year. Bloomberg matched the story nearly 10 minutes later, while Dow Jones picked up the Reuters headline after more than four hours.