Reuters leads the way with YRC; stock yo-yos

Reuters led the way in coverage of struggling No. 1 U.S. trucking firm YRC. Reuters exclusively reported on July 8 that YRC had asked investment bank Rothschild to review potential bond exchanges. YRC’s stock, already down 16 percent before the Reuters headlines, dropped further afterwards and closed down 28 percent. The story was widely picked up by other media outlets including Forbes and the Washington Post. Dow Jones was forced to pick up the story and cite Reuters nearly three hours after it ran. The next day, Reuters immediately issued headlines on a YRC statement that it had reached a deal with its labour union. The stock first doubled and ended up 67 pct that day.