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Reuters ahead with Zale probe, shares plummet

Reuters was ahead with news on Oct. 30 that jewelry store operator Zale Corp was being investigated by the SEC for accounting irregularities. Reuters sent a headline on the news when it was mentioned in a throwaway line during the company’s quarterly earnings call with analysts and Zale shares plunged, ending down 26 percent on the day. Neither Dow Jones nor Bloomberg wrote anything after the initial comment was made and Bloomberg’s first mention sometime later referenced Reuters as the source

Market Impact

Zale shares plunged, ending down 26 percent on the day

Article Tags
Type: Reuters Best
Sectors: Equities
Regions: Americas
Countries: US
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