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ADM Guides FY24 Adj. EPS In Line; Authorizes Addl. $2 Bln Share Buyback - Update
(RTTNews) - While reporting financial results for the fourth quarter and fiscal 2023 on Tuesday, Archer-Daniels-Midland (ADM) initiated its adjusted earnings guidance for the full-year 2024 in a range of $5.25 to $6.25 per share.
On average, 15 analysts polled by Thomson Reuters currently expect the company to report earnings of $5.87 per share for the year. Analysts' estimates typically exclude special items.
ADM also announced the Company's Board has authorized management to repurchase an additional $2 billion of the Company's shares under ADM's existing 200 million share repurchase program that runs through 2024.
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ADM Animal Nutrition Expands Recall Of Feed Products
ADM Animal Nutrition, affiliated to food processing company Archer-Daniels-Midland Co. or ADM, has expanded its recall to include additional lots of various feed products citing elevated levels of magnesium, sodium, calcium, chloride and/or phosphorus. These elevated levels may harm cattle, chickens, equine, goats, lambs, llamas, rabbits, sheep and swine.
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ADM To Acquire UK-based FDL For Undisclosed Terms
Food processing company Archer-Daniels-Midland Co. or ADM (ADM) announced Tuesday that it has reached an agreement to acquire UK-based FDL, a leading developer and producer of premium flavor and functional ingredient systems.
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Turkey Central Bank Cuts Key Rates By 100 Bps As Expected
Turkey's central bank reduced the pace of interest rate cuts on Thursday as inflation accelerated due to higher food prices. The Monetary Policy Committee of the Central Bank of the Republic of Turkey, headed by Yasar Fatih Karahan, decided to reduce the policy rate by 100 basis points to 39.50 percent from 40.50 percent.
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FTSE 100 Advances As Investors React To Earnings Announcements
U.K.'s FTSE 100 remains firmly up in positive territory a little past noon on Thursday, with investors reacting to a slew of encouraging corporate earnings announcements. Energy and mining stocks are faring well.
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French Manufacturing Sentiment Strengthens Unexpectedly
French manufacturing confidence strengthened unexpectedly in October to the highest level in more than a year, data from the statistical office INSEE showed on Thursday.
The manufacturing confidence index rose to 100.7 in October from 96.7 in September, while the reading was forecast to drop to 96.0. Moreover, the score was the highest since March 2024.
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CAC 40 Hovers Near Record High; Kering Soars Over 10%
France's CAC 40 is hovering near its record high on Thursday with investors largely reacting to corporate earnings announcements, and data showing an improvement in industry confidence in France in the month of October.
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Sensex, Nifty Give Up Sharp Early Gains
Indian shares closed higher on Thursday after reports suggested that India and the United States are close to finalizing a long-awaited bilateral trade deal that could sharply lower tariffs on Indian exports to about 15-16 percent from the current average of 50 percent.
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DAX Drifts Lower As Investors React To Results, Geopolitical News
The German market is showing weakness on Thursday, as investors remain cautious, reacting to a slew of earnings announcements, and continuing to watch the developments on U.S.-China trade front, as well as news from the geopolitical front.
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