Archer-Daniels-Midland Stock Plummets Amid SEC Probe

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 $ ...