Archer Daniels Midland shares slide after earnings and revenue miss
Archer Daniels Midland Co. shares fell 3.4% in Tuesday premarket trading after the food maker missed fourth-quarter earnings and revenue expectations. The company reported net income $315 million, or 55 cents per share, down from $788 million, or $1.39 per share, last year. Adjusted EPS of 88 cents missed the 92-cents FactSet consensus. Revenue totaled $15.9 billion, down from $16.1 billion and below the $16.8 billion FactSet estimate. Archer Daniels shares have gained 9.6% over the past year while the S&P 500 index is up nearly 3% for the period. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.