Bayer Stock Slumps on Outlook Cut
Bayer(BAYRY) Investopedia·2024-11-12 20:40
KEY TAKEAWAYSBayer shares are falling 11% in German trading after the pharmaceuticals and crop science conglomerate reduced its full-year earnings target amid a tough agricultural market.The Monsanto parent said it now expects 2024 EBITDA before special items of between 10.4 billion euros ($11.05 billion) and 10.7 billion euros ($11.36 billion), down from its previous range of between 10.7 billion euros and 11.3 billion euros.Agricultural companies, including Archer Daniels Midland, have been hit by lower g ...