Agriculture Giant ADM's Stock Dives on Accounting Probe, Outlook Downgrade
ADMADM(ADM) Investopedia·2024-01-23 03:35

Key Takeaways o ¢ Shares of agriculture giant Archer-Daniels-Midland Co. plummeted more than 20% Monday after it announced a probe into the accounting practices of its nutrition division. The Chicago-based grain merchant placed Chief Financial Officer (CFO) Vikram Luthar on leave, appointing company veteran Ismael Roig as its interim CFO. ADM lowered its 2023 earnings outlook and postponed its fourth-quarter earnings report. Agriculture commodity giant Archer-Daniels-Midland Co. (ADM) cut its outlook for th ...