Reuters wins on International Paper's outlook; stock soars

Reuters was well ahead of the competition on July 31 in reporting key details about International Paper’s outlook and also was alone in reporting that the paper and packaging giant is open to the bulk sale of its remaining timberland assets. Shares of the company closed 14 percent higher on the New York Stock Exchange, on the back of better-than-expected earnings and the bullish outlook. Reuters was 26 minutes ahead of Dow Jones and unmatched by Bloomberg in reporting that International Paper saw its acquisition of Weyerhaeuser’s packaging business as cash positive in 2008. We were also much ahead of competitors in reporting the company’s third-quarter pricing and demand outlook. In an exclusive interview, CFO Tim Nicholls also told Reuters that the company would consider a bulk sale of its remaining timberland assets.