Reuters alone with Argon sale details; shares surge

Reuters was alone on May 10 with details on the sale of Argon, sending the company’s shares up 16 percent to a 52-week high at one point. Our headlines mentioned that Argon had asked for $30 a share and that Boeing, BAE Systems and Raytheon had completed management presentations with Argon. We also had more detail on the auction process, and our story came a few months after we broke news of the sale in January. Shares of Boeing and Raytheon fell 2.5 percent each on the news. Shares of BAE fell 2.7 percent.