Key TakeawaysShares 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 the 2023 f ...

Archer Daniels Midland Company (ADM) announces the postponement of its earnings release and conference call for the fourth quarter and 2023. The company also delays the filing of its annual report on Form 10-K for the year ending Dec 31, 2023, marking a departure from its historical schedule. ADM commits to providing updates regarding the rescheduled timing of its earnings release and the filing of Form 10-K. Image Source: Zacks Investment Research Updated OutlookThe company updated its 2023 outlook, includ ...

Agriculture commodity trader Archer-Daniels-Midland (ADM -21.25%) placed its chief financial officer on leave as part of an internal investigation into accounting practices. Investors are understandably concerned, sending shares of ADM down nearly 20% as of 10:30 ET Monday.The government has some questions about the booksADM is not typically in the spotlight. But the Chicago-based human and animal nutrition company is on investor radars for all the wrong reasons following a Sunday announcement that it had a ...

MILWAUKEE, Jan. 22, 2024 /PRNewswire/ -- Ademi LLP is investigating possible securities fraud claims against ADM (NYSE: ADM). The investigation results from inaccurate statements ADM may have made regarding its accounting, business operations and prospects. Click here to learn more about the investigation: https://www.ademilaw.com/case/archer-daniels-midland-company or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you. The investigation focuses on ADM's accounting practices an ...

Shares in agriculture processor Archer-Daniels-Midland (NYSE:ADM) plunged 16% over the weekend on a probe of its accounting. Now, ADM stock is down about 19% as of this writing.Chief Financial Officer Vikram Luthar was placed on leave as part of the probe. The problems relate to the company’s $8 billion Nutrition segment. In 2022, Archer-Daniels-Midland reported annual revenue of about $102 billion, per Barron’s.Along with sidelining Luthar, the company cut its 2023 adjusted earnings forecast to $6.90 per s ...

The shares of Archer-Daniels-Midland Co (NYSE:ADM) are plummeting today, after the food processing giant placed CFO Vikram Luthar on administrative leave due to an investigation into accounting practices in its nutrition unit, per the U.S. Securities and Exchange Commission (SEC). The company also announced lower-than-expected fourth-quarter guidance, after which Barclays downgraded the stock to "underweight" from "overweight" and cut its price target to $60 from $95. At last glance, ADM was down 19.4% at $ ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

BOSTON, Jan. 22, 2024 (GLOBE NEWSWIRE) -- Block & Leviton is investigating Archer-Daniels-Midland Company (NYSE:ADM) for potential securities law violations. Investors who have lost money in their Archer-Daniels-Midland Company investment should contact the firm to learn more about how they might recover those losses. For more details, visit https://www.blockleviton.com/cases/adm. What is this all about? Archer-Daniels-Midland placed CFO Vikram Luthar on administrative leave pending an investigation into ce ...

Shares of Archer-Daniels-Midland Co (NYSE: ADM) tanked about 16% to a three-year low this morning following a string of bad news.ADM shares tank on probe newsCopy link to sectionThe food processing company has placed Vikram Luthar – its chief financial officer on an administrative leave following an investigation related to accounting practices. Ismael Roig will serve as the interim chief of finance at ADM, as per a press release on Sunday.Archer-Daniels-Midland also lowered its guidance for the full year t ...

Archer Daniels Midland shares plunged in premarket trade on Monday as the agribusiness giant said its chief financial officer has been placed under administrative leave, amid an investigation into accounting practices in its nutrition segment. ADM said CFO Vikram Luther was put on immediate administrative leave following a Securities and Exchange Commission “voluntary” request for documents. The Chicago-based company said outside counsel and the board audit committee are looking at accounting practices a ...