UTX, other industrials slump after Reuters first with CFO warning

Shares of industrials slumped on Oct 16 after Reuters was first to report a warning from the United Technologies CFO that 2009 would be the toughest year the company had seen for some time and that it would be difficult to keep up its pace of double-digits earnings growth. Reuters headlines — which moved nine minutes ahead of those from rival Dow Jones — reported the first glimmer UTX had given investors of its darkening outlook, and led off a day that saw shares tumble across the industrial sector. The news was unsighted by Bloomberg.