Archer-Daniels-Midland to Restate Results on More Accounting Concerns, Stock Drops

Key TakeawaysArcher-Daniels-Midland said it will again restate results as it has discovered more concerns about its accounting practices. The company also canceled a conference call with analysts after releasing a preliminary third quarter earnings report that showed profit well below estimates.CEO Juan Luciano blamed softer than anticipated market conditions and the speed of ADM's improvement efforts. Shares in Archer-Daniels-Midland (ADM) sank as the maker of agricultural commodities canceled an earnings ...