Barclays Double Downgrades Archer Daniels Midland (ADM) to Underweight, 'A softer crush is crushing our estimates'

Stifel Downgrades Archer Daniels Midland (ADM) to Hold, 'we expect a sustained headwind to valuation on shares'

January 22, 2024 10:11 AM EST

Stifel analyst Vincent Anderson downgraded Archer Daniels Midland (NYSE: ADM) from Buy to Hold with a price target of $56.00 (from $116.00).

The analyst comments "We are updating our model for market data observed throughout the quarter ahead of ADM's 4Q23 reporting. We also... More

ADM shares plunge 24% in worst day since 1929 as CFO is placed on leave

January 22, 2024 8:21 AM EST

By Karl Plume and Seher Dareen

(Reuters) -Shares of Archer-Daniels-Midland plunged 24% on Monday, its biggest one-day drop since 1929, after CFO Vikram Luthar was placed on administrative leave as the company investigates accounting practices at its Nutrition segment.

The global grains merchant cut its 2023 profit forecast and said fourth-quarter results would be delayed due to the investigation related to certain inter-segment transactions, in response to a voluntary document request by the U.S. Securities and Exchange Commission (SEC).

The probe brings more uncertainty to ADM's high-margin Nutrition segment, which is under pressure due to weak demand for... More

Midday movers: Small cap stocks rule, Archer-Daniels-Midland falls, and more

January 22, 2024 8:19 AM EST

(Updated - January 22, 2024 11:28 AM EST)

Investing.com -- Main U.S. indexes edged higher Monday, at the start of a week that sees the earnings season ramp up as well as the release of some key economic numbers. The Russel 2000 index significantly outperformed the Dow, S&P 500, and Nasdaq.

Here are some of the biggest U.S. stock movers today:

Macys (NYSE: M) stock rose 2% after the department store chain rejected a $5.8 billion take private bid from investing firm Arkhouse and hedge fund Brigade.

Boeing (NYSE:... More

Roth/MKM Downgrades Archer Daniels Midland (ADM) to Neutral

January 22, 2024 7:32 AM EST

Roth/MKM analyst Brian Wright downgraded Archer Daniels Midland (NYSE: ADM) from Buy to Neutral with a price target of $66.00 (from $98.00).

The analyst comments "On Sunday evening, ADM announced that the CFO, Vikram Luther, was put on administrative leave as a result of an ongoing... More

Archer Daniels Midland (ADM) call put ratio 1 call to 2.2 puts into share price down before the bell

January 22, 2024 6:52 AM EST

Archer Daniels Midland (NYSE: ADM) 30-day option implied volatility is at 26; compared to its 52-week range of 17 to 29. Call put ratio 1 call to 2.2 puts with a focus on February 66 puts.

... More

Archer Daniels Midland (ADM) PT Lowered to $66 at BMO Capital

January 22, 2024 6:39 AM EST

BMO Capital analyst Andrew Strelzik lowered the price target on Archer Daniels Midland (NYSE: ADM) to $66.00 (from $80.00) while maintaining a Market Perform rating.... More

Archer Daniels Midland (ADM) plunges after placing CFO on leave amid probe

January 22, 2024 6:36 AM EST

Archer-Daniels-Midland Company (NYSE: ADM) shares plunged in early New York trading on Monday after an outside counsel and the Boards audit committee launched investigation for accounting practices in the companys Nutrition segment and related intersegment transactions.

This probe was initiated following a voluntary document request from the... More

Archer Daniels Midland (ADM) Appoints Ismael Roig as Interim CFO

January 22, 2024 5:55 AM EST

ADM (NYSE: ADM) today announced the appointment of Ismael Roig as Interim Chief Financial Officer. Mr. Roig is a skilled executive deeply familiar with ADMs business, having served in a variety of global operational and financial leadership roles since joining the Company in 2004. The appointment follows the decision of the ADM Board of Directors to place Vikram Luthar, Chief Financial Officer and Senior Vice President, on administrative leave, effective immediately.

Mr. Luthars leave is pending an ongoing investigation being conducted by outside counsel for ADM and the Boards Audit Committee regarding certain... More

Goldman Sachs Downgrades Archer Daniels Midland (ADM) to Neutral

January 22, 2024 5:50 AM EST

Goldman Sachs analyst Adam Samuelson downgraded Archer Daniels Midland (NYSE: ADM) from Buy to Neutral with a price target of $67.00 (from $90.00).

For an analyst ratings summary and ratings history on Archer Daniels Midland... More

Baird Downgrades Archer Daniels Midland (ADM) to Neutral, 'Pending Investigation and Risk to Estimates'

January 22, 2024 2:42 AM EST

(Updated - January 22, 2024 4:24 AM EST)

Baird analyst Ben Kallo downgraded Archer Daniels Midland (NYSE: ADM) from Outperform to Neutral with a price target of $61.00 (from $96.00).

The analyst comments "We are downgrading shares based on the recently announced investigation into ADM's Nutrition segment... More