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Archer Daniels Midland

All articles tagged with #archer daniels midland

business-finance1 year ago

ADM Faces Multiple Challenges Amid Accounting Probe and Asset Sales

Archer-Daniels-Midland Co. faces an uphill battle to recover from an $8 billion value loss due to an accounting investigation, with its nutrition unit failing to live up to expectations despite multibillion-dollar investments. The company's core agricultural commodities are also facing challenges, with rising grain inventories leading to predictions of further price declines. While ADM is taking aggressive steps to fix its nutrition business, including slashing product lines and considering asset sales, investors may remain cautious. The company's CEO aims to restore profit growth and margin closer to previous levels, but the road to recovery may be long, especially with ongoing federal investigations and a struggling nutrition division.

via Yahoo Finance|
#accounting-investigation#adm#archer-daniels-midland
finance2 years ago

"Today's Stock Movers: Small Caps Surge, Boeing and Gilead in Focus"

The U.S. stock market saw the Russel 2000 index outperforming major indexes, with Macy's rejecting a $5.8 billion bid, Boeing's stock falling after FAA's recommendation, and Archer-Daniels-Midland's stock dropping 20% due to an investigation into accounting practices. SolarEdge announced plans to lay off 16% of its workforce, while ExxonMobil filed a lawsuit against activist investors. Additionally, American Airlines stock rose after an upgrade, NuStar Energy and Sunoco agreed to combine, and Gilead Sciences' stock declined after a trial failure. Various technology stocks, including Palantir Technologies, Affirm Holdings, and Cloudflare Inc., experienced gains.

via Investing.com|
#archer-daniels-midland#boeing#finance
business2 years ago

ADM Launches Accounting Probe, Places CFO on Leave

Archer Daniels Midland is facing an accounting investigation, prompting the company to postpone the release of its financial reports and adjust its earnings expectations for the year. The top financial executive, Vikram Luthar, has been placed on administrative leave in response to a voluntary document request by the U.S. Securities and Exchange Commission. The company is cooperating with the SEC and working to complete the investigation quickly, while an interim CFO has been named.

via Yahoo Finance|
#accounting-investigation#administrative-leave#archer-daniels-midland
accidentsdisasters2 years ago

Multiple Workers Injured in Explosion at Illinois ADM Facility

Several employees were injured in an explosion at an Archer Daniels Midland facility in Decatur, Illinois. The cause of the explosion is unknown, and the company has contacted the Decatur Fire Department for further investigation. The incident sent a tower of smoke into the air, and the injured employees were transported to a hospital.

via NBC News|
#accidentsdisasters#archer-daniels-midland#decatur
business2 years ago

EPA's Biofuel Rules Clash with SAF and EV Realities.

The Environmental Protection Agency has announced mandated volumes for biofuels in the coming years that fell short of industry expectations, causing concerns that the production capacity that companies were building up would be left in a lurch. Shares of Darling Ingredients, the country's largest renewable diesel producer through a joint venture, fell as much as 8%. Shares of Archer-Daniels-Midland and Bunge, which produce renewable diesel feedstocks, also slipped on the news.

via The Wall Street Journal|
#archer-daniels-midland#biofuels#business