Reuters' Stock Tumbles; Analyst's Downgrade Is Cited


Reuters Holdings PLC's American depository receipts (ADRs) took a nosedive last Thursday after an analyst at Wertheim Schroder downgraded the stock. The analyst, Michael Ellman, acted in response to reports that beta testing of the company's order-matching system for foreign exchange trading, Dealing 2000-2, had been delayed.

Dow Jones reported on the morning of Aug. 16 that Reuters ADRs had dropped "nearly eight percent," to 531/8 in over- the-counter trading. By the close of the day, the s

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