Reuters' share price slumped to a 12-year low of 170 pence last Friday (Oct. 11).
The drop occurred after a number of banks, including UBS Warburg, JP Morgan and Credit Suisse First Boston, reduced their earnings estimates for the vendor, blaming weak economic conditions and the cost reduction projects among Reuters' customers globally. The dip comes days before Reuters announces its Q3 results and 2003 outlook on Wednesday, Oct. 16.
Last week UBS Warburg downgraded Reuters from Hold to Redu
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