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☆ 12 portfolio companies report earnings in the week ahead. What we want to hear from each
▼ + stars: | 2024-04-27 | by ( Zev Fima | ) www.cnbc.com time to read: +15 min

The action quickly and sharply reversed back to the upside Friday after blowout earnings reports from Alphabet and Microsoft . In the week ahead, earnings are likely to drive the action again, though we'll get a few important macroeconomic reports. Earnings: We've got the biggest week of the earnings season ahead of us, with 12 Club holdings set to report. Eli Lilly 's report Tuesday morning continues to be all about sales of type-2 diabetes treatment Mounjaro and weight-loss drug Zepbound. In DuPont 's report Wednesday morning, we're looking for a continued rebound in its semiconductor business following a sequential increase last quarter.

Persons: Ford, we'll, Dow Jones, We've, Buckle, Eaton, Eli Lilly, Lilly, We're, Estee Lauder, Fabrizio Freda, we've, Linde, Bausch, Royal Philips, Woodward, SIRI, Archer, Johnson, Stanley Black, Decker, BAX, Cardinal Health, Parker, Belden, Jim Cramer's, Jim Cramer, Jim Organizations: Nasdaq, Microsoft, Meta, Google Search, Big Tech, Nvidia, Broadcom, Ford Motor, Honeywell, Danaher, Labor Department, Labor, PMI, Services PMI, GE Healthcare, Amazon Web Services, Starbucks, Deutsche Bank, DuPont, Bausch Health, U.S ., Appeals, Apple, iPhones, Vision, ON Semiconductor, Resource Partners, Franklin Resources, Paramount, Transocean Ltd, Semiconductors, Arch Capital, Logitech International, Lattice Semiconductor, F5 Networks, Sanmina Corporation, GE HealthCare, PayPal, 3M Company, McDonalds, Enterprise Products Partners, Cola Company, Melco Resorts, Entertainment, SiriusXM Holdings, Oatly, American Electric Power Company, Leidos Holdings, Marathon Petroleum, Daniels, Midland Co, Equitrans Midstream Corporation, HSBC Holdings, HSBC, Devices, Caesars Entertainment, Lumen Technologies, Mondelez, Pfizer, CVS Health, Barrick, Mastercard Inc, Cruise Line Holdings Ltd, Kraft Heinz Company, Marriott International, Ares, Generac Holdings, Johnson Controls, Cenovus Energy Inc, Qualcomm, Devon Energy, Paycom, Axcelis Technologies, Coeur D'Alene Mines, Sunnova Energy International, MGM Resorts International, MGM, Solar Inc, Oil, Allstate, Co, Tenable Holdings, Enovix Corporation, Gladstone Capital, Avis Budget Group, eBay, EBAY, LIN, Novo Nordisk, Natural Resources, PENN Entertainment, Apache, ConocoPhillips, InMode Ltd, Baxter International, Cardinal, Regeneron Pharmaceuticals, Apollo Global Management, LLC, Cinemark Inc, Dominion Energy, Coterra Energy, Coinbase, Bill.com Holdings, Booking Holdings, United States Steel, AXT Inc, Materials, Energy, Hershey Company, XPO Logistics, Cboe, American Pipeline, Amneal Pharmaceuticals, Brookfield Business Partners, Brookfield Renewable Corporation, Magna International, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, Bloomberg, Getty Locations: U.S, megaprojects, China, Eaton, Corning, Coeur D'Alene, Albemarle, ALB, Novo, New York

☆ ADM shares plunge 24% in worst day since 1929 as CFO is placed on leave
▼ + stars: | 2024-01-23 | by ( ) www.cnbc.com time to read: +3 min

The Archer-Daniels-Midland Co. (ADM) grain facility in Mendota, Illinois, U.S.Shares of Archer-Daniels-Midland plunged 24% on Monday, its biggest one-day drop since 1929, after CFO Vikram Luthar was placed on administrative leave as the company investigates accounting practices at its Nutrition segment. The probe brings more uncertainty to ADM's high-margin Nutrition segment, which is under pressure due to weak demand for meat alternatives and other products as well as downtime at a large soy processing facility. The Nutrition segment, however, has not performed well in recent quarters. "First and foremost, understanding the true scope of potential accounting irregularities and their impact on Nutrition segment revenues/margins will be critical," said Goldman Sachs analyst Adam Samuelson. ADM appointed Ismael Roig, who has been with the company since 2004, as its interim CFO.

Persons: Archer, Vikram Luthar, Luthar, Goldman Sachs, Adam Samuelson, Ismael Roig Organizations: Daniels, Midland Co, Midland, U.S . Securities, Exchange Commission, SEC, for Research, ADM, BMO, UBS, Bunge Global Locations: Mendota , Illinois, U.S, Chicago

☆ Reducing pesticides in food: Major food manufacturers earn an F grade
▼ + stars: | 2023-11-08 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +11 min

“Pesticide exposure during pregnancy may lead to an increased risk of birth defects, low birth weight, and fetal death,” the American Academy of Pediatrics stated. “Exposure in childhood has been linked to attention and learning problems, as well as cancer.”Yet pesticide exposure is widespread, even for chemicals that were banned years ago by federal agencies. In the 2023 Shopper’s Guide to Pesticides in Produce — a list of nonorganic produce with the most pesticides — researchers found 210 different pesticides on the 12 foods. In addition, consumers can ask food companies to “release the actual test results of pesticide concentrations in their products,” said EWG’s Temkin. “Food companies have not been publishing such data, instead relying on generalities,” she said via email.

Persons: ”, Cailin Dendas, “, disheartening, Jane Houlihan, Houlihan, Kale, collard, ” Alexis Temkin, toxicologist, ” Dendas, Jim Watson, Dendas, Sow, General Mills, Archer Daniels, Lamb, Nestlé, Dane Lisser, Shelby Stoolman, EWG’s, Temkin, ” Temkin, “ Steer Organizations: CNN, “ Pesticides, Healthy, “, ”, American Academy of Pediatrics, Environmental, US Environmental Protection Agency, Environmental Protection Agency, US Centers for Disease Control, Getty, Archer Daniels Midland Co, PepsiCo Inc, Conagra Brands Inc, Campbell Soup Company, Lamb Weston Holdings Inc, G Foods Inc, Cargill, Danone S.A, Del Monte Pacific Ltd, General, Inc, Kraft Heinz Company, Mars Incorporated, Mondelēz, Post Holdings Inc, ADM, US Food and Drug Administration Locations: United States, AFP

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FRANKFURT/LONDON, July 26 (Reuters) - German industry is finding new ways to transport cargoes from coal to chemicals as increasingly frequent low water levels on the Rhine disrupt Europe's largest economy. At Kaub , the critical chokepoint for Rhine barges, water levels fell to their lowest this year earlier this week. ARTERY OF THE ECONOMYThe impact of low water levels is not limited to big business. But logistics firms are benefiting from rising demand for vessels adapted to lower river levels. "We expect, due to climate change, that the extremes on the river Rhine will happen more often," said Maickel Uijtewaal, general manager at Stolt-Nielsen (SNI.OL).

Persons: Uwe Arndt, Barbara Hoyer, majeure, Roberto Spranzi, Maickel Uijtewaal, Steffen Bauer, Christoph Steitz, Vera Eckert, Ludwig Burger, Patricia Weiss, Rene Wagner, Nette, Tom Kaeckenhoff, Matthias Inverardi, Vincent Flasseur, Barbara Lewis Organizations: Federal Waterways, Shipping Agency, Reuters Graphics, Cologne, BASF, Reuters Graphics Reuters, Kiel Institute, Deutsche Bank, Reuters, Stolt, Nielsen, HGK Shipping, Daniels, Midland Co, Chemicals, Thomson Locations: FRANKFURT, LONDON, Kaub, Europe, Reuters Graphics Germany, Ludwigshafen, HGK, Frankfurt, Berlin, Duesseldorf, London

☆ My husband and I moved to a remote Texas town for work. We thought it'd be temporary, but we just bought our second home and don't plan to leave.
▼ + stars: | 2023-07-24 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +6 min

After graduating in 2019, Avery and Bayler Boydston moved to Midland, an isolated West Texas town. We graduated from high school in 2015 and 2016 and moved to Lubbock to attend Texas Tech University. The couple attended Lubbock's Texas Tech University before moving to Midland, Texas, in 2019. I do think the cost of housing in Midland is high relative to the types of homes that are available. Avery: It all comes down to the opportunities this city provides for young people, both financially and socially.

Persons: Avery, Bayler Boydston, Avery Boydston, Bayler, It's, there's, I've, we've Organizations: Service, Texas Tech University, Tech, Midland, Lubbock's Texas Tech University, homeownership, Boydstons, Midland . Avery Locations: Midland, West Texas, Wall, Silicon, Midland , Texas, Amarillo , Texas, Lubbock, Midland ., Midland Avery, Amarillo, Avery Boydston . Midland, Texas, Dallas

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Bloomberg News had reported on May 25 that Bunge and Viterra were in talks to combine, without providing details on the deal's terms and timing. Acquiring Viterra would bring Bunge revenue's revenues -- $67.2 billion in 2022 -- in line with Archer-Daniels-Midland, which registered sales of nearly $102 billion last year. In early 2017, Viterra, then known as Glencore Agriculture, attempted a takeover of Bunge, which was then valued at $11 billion. In May 2017, Bunge rebuffed Glencore after the latter made an informal approach to discuss "a possible consensual business combination." Viterra expanded its business of buying and selling grain in the United States through its $1.1 billion acquisition of Gavilon last year.

Persons: Bunge, Greg Heckman, Privately, Viterra, Archer, Louis Dreyfus Co, Glencore, Abigail Summerville, Anirban Sen, Jonathan Oatis Organizations: YORK, Bunge Ltd, Glencore Plc, Canada, Plan Investment Board, Columbia Investment Management Corp, Bloomberg News, Daniels, Midland Co, Cargill Inc, Bunge, Midland, Agriculture, Thomson Locations: Ukraine, Glencore, Brazil, Viterra, United States, Gavilon, New

Bunge reaffirmed its full-year 2023 outlook of adjusted earnings of $11 per share, citing likely weaker results from its Agribusiness and Milling divisions but improved profits in its Refined and Specialty Oils unit. Bunge and other supply chain middlemen, including Archer-Daniels-Midland Co (ADM.N) and Cargill Inc (CARG.UL), have generally benefited from strong global crop demand and tightening supplies, with record profits last year. The worst drought in decades has slashed grain and soy harvests in Argentina, depriving Bunge of the crops it needs to process. First-quarter adjusted profit in Bunge's Agribusiness unit, its largest in terms of revenue and volumes, dropped 18% on the year. Bunge said results were strong in all regions in its Refined and Specialty Oils division, with notable strength in North America and South America, reflecting favorable food and fuel demand trends.

☆ In change for oil market, new US crude in Brent index lacks loading plan
▼ + stars: | 2023-04-28 | by ( Alex Lawler | ) www.reuters.com time to read: +3 min

Oil-index publisher S&P Global Platts is adding U.S. WTI Midland crude to its dated Brent oil price assessment for June deliveries, which is now in focus as the market trades roughly a month ahead. Dated Brent is part of the wider Brent complex including physical cargoes, swaps and futures that is used to price millions of barrels of oil each day. The companies that run the North Sea crude streams, known as the operator, issue planned cargo loading lists which the industry monitors as an indication of supply. "We see no reason for issues," said Joel Hanley, global director, crude and fuel oil, at S&P Global Commodity Insights. Thomson Reuters competes with S&P Global Platts in providing news and data about the oil market.

Some living above Navigator's proposed sequestration site are also worried that carbon dioxide stored 5,800 feet underground could seep upward and contaminate their groundwater with carbonic acid, which is formed when carbon dioxide meets water. This came two months after a senior ICC engineer recommended that the commission deny the company's application because it had not secured the necessary sequestration site, the commission's docket shows. The company did not share the number or percent of easements it has secured over its proposed sequestration sites. The two other major carbon pipeline projects are working to secure underground carbon storage space. Summit has negotiated easements with landowners for more than 85% of its sequestration site in North Dakota, the company told Reuters.

☆ High Food Prices, Chinese Demand Boost Prospects of U.S. Agriculture Companies
▼ + stars: | 2023-02-11 | by ( Patrick Thomas | ) www.wsj.com time to read: 1 min

Farmers are forecast to increase planting this year to make the most of high grain prices and offset their higher costs. The U.S. agriculture industry is projecting another strong year, with elevated crop prices and China’s rebound from Covid-19 expected to boost farmers, chemical suppliers and grain traders. Grain-trading middlemen, including Archer Daniels Midland Co. and Bunge Ltd., said demand for crops, vegetable oils and livestock feed will remain strong in 2023. China is also expected to increase its crop imports as Covid-19 restrictions in the country ease, executives said. Seed and pesticide sellers said those forces should support crop prices and keep farmers flush with cash, enabling them to shell out for higher-priced supplies.

Between 30 and 40 employees that oversee the power co-generation plant at the central Illinois site are on strike and the company has brought in replacement workers, the union said. There are nearly 5,000 employees at the sprawling Decatur facility that processes corn and soybeans into food, animal feed and biofuels, according to ADM. "ADM is refusing to offer these workers wages and benefits on par with what union members receive at other union facilities," J.P. Fyans, Local 916 president, said in a media statement. ADM has offered the members "an extremely competitive proposal" and continues to negotiate with the union in good faith, said company spokesperson Jackie Anderson. The Decatur site, ADM's global headquarters until a move to Chicago a decade ago, houses a soybean crushing plant and one of the largest corn wet mills in the world.

The solid quarterly earnings highlighted how global crop merchants like ADM have weathered rising energy costs and supply chain disruptions such as lower Black Sea grain exports following Russia's invasion of Ukraine. "As we look forward to 2023, we expect another very strong year," Chief Executive Juan Luciano said. "We still see tightness in supply and demand balances in key products and regions," he said, citing reduced Ukrainian grain supplies and smaller harvests in drought-hit Argentina. Adjusted operating profit in Ag Services and Oilseeds rose as strong South American crop exports and good margins offset reduced U.S. exports and as quarterly oilseed crushing profits more than doubled. ADM's adjusted net fourth-quarter earnings rose to $1.069 billion, or $1.93 per share, from $850 million, or $1.50 a share a year earlier, above the consensus estimate of $1.65 per share, based on Refinitiv data.

☆ Grain trader ADM hikes dividend as quarterly profit tops estimate
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +1 min

Jan 26 (Reuters) - Archer-Daniels-Midland Co (ADM.N) on Thursday reported upbeat fourth-quarter profit and said it will raise its dividend payments, as the global grains merchant benefited from tight global supply and hefty demand for grain and oilseeds. The strong quarterly performance followed record third-quarter earnings as tight supply and strong demand for food, feed and biofuel propelled results for the Chicago-based agribusiness. Supply chain middlemen such as ADM tend to thrive when crises such as droughts or war trigger shortages in parts of the world. It also raised its quarterly dividend by 12.5% to 45 cents. Reporting by Sourasis Bose in Bengaluru and Karl Plume in Chicago; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

But to reach its ultimate destination - supermarket shelves - cultivated meat faces big obstacles, five executives told Reuters. California-based cultivated meat company GOOD Meat already has an application pending with the FDA, which has not been previously reported. Regulatory approval is just the first hurdle for making cultivated meat accessible to a broad swath of consumers, executives at UPSIDE, Mosa Meat, Believer Meats, and GOOD Meat told Reuters. But it will take hundreds of millions of dollars for GOOD Meat, for example, to build bioreactors of the size needed to make its meat at scale, Tetrick said. But cultivated meat companies have the advantage that they can claim their product is real meat, Tetrick said.

Rep. Dan Kildee faces Republican Paul Junge in Michigan's 8th Congressional District. The 8th District is centered around the city of Flint, Michigan. Democratic Rep. Dan Kildee faces Republican Paul Junge in Michigan's 8th Congressional District. 2022 General EmbedsMichigan's 8th Congressional District candidatesKildee was elected the representative for Michigan's 5th Congressional District pre-redistricting, succeeding his uncle Dale Kildee, who occupied the seat from 1977 to 2013. Voting history for Michigan's 8th Congressional DistrictMichigan's 8th Congressional District is centered around the city of Flint.

Rep. Dan Kildee defeated Republican Paul Junge in Michigan's 8th Congressional District. The 8th District is centered around the city of Flint, Michigan. Democratic Rep. Dan Kildee defeated Republican Paul Junge in Michigan's 8th Congressional District. 2022 General EmbedsMichigan's 8th Congressional District candidatesKildee was elected the representative for Michigan's 5th Congressional District pre-redistricting, succeeding his uncle Dale Kildee, who occupied the seat from 1977 to 2013. Voting history for Michigan's 8th Congressional DistrictMichigan's 8th Congressional District is centered around the city of Flint.

☆ Fact Check-No evidence of intentional widespread effort to miscalibrate voting machines in Texas, experts tell Reuters
▼ + stars: | 2022-11-04 | by ( Reuters Fact Check | ) www.reuters.com time to read: +9 min

Following the viral tweet, other anecdotal accounts and claims circulated online that voting machines were switching votes to favor Abbott (here), (here), (here). The Republican Party of Texas has no part in the calibration of voting machines, James Wesolek, Communications Director at the Republican Party of Texas told Reuters. If that process was done incorrectly, a voting machine’s touch screen might be consistently wrong. Touch screen machines can also suffer from an issue termed ‘parallax’ (here). There is no evidence of a widespread attempt to miscalibrate voting machines to switch votes in support of Beto O’Rourke to Greg Abbott in the governorship race, experts told Reuters.

The approvals could reshape global trade flows and result in fewer sales for farmers in the United States, the world's top corn supplier. China relied on the United States and Ukraine for most of its corn supplies but Russia's invasion of Ukraine has disrupted exports. He said in an interview the list of approved Brazilian facilities that can export corn to China may be updated to include more units in coming weeks. Once China starts buying corn from Brazil, traditional Brazilian corn importers such as Spain and Egypt could shift some of their purchases to the United States. Beijing and Brasilia had signed a protocol for exporting corn from Brazil to China in 2014 but little trade had happened due to complex inspection requirements.

CHICAGO, Oct 26 (Reuters) - Agricultural commodities trader Bunge Ltd (BG.N) on Wednesday raised its full-year earnings outlook after adjusted third-quarter profit topped expectations, sending its shares up more than 5%. "We delivered strong quarterly results against the backdrop of a shifting operating environment," Chief Executive Gregory Heckman said. Rival agribusiness Archer-Daniels-Midland Co on Tuesday reported its strongest ever third-quarter profit and raised its earnings outlook. Bunge lifted its full-year 2022 earnings guidance to $13.50 per share as the profit outlook for its core business segments improved. The refined and specialty oils segment however turned in stronger quarterly earnings.

☆ ADM's profit doubles on high global grain demand
▼ + stars: | 2022-10-25 | by ( Mike Stone | Nathan Gomes | ) www.reuters.com time to read: +1 min

Oct 25 (Reuters) - Grain merchant Archer-Daniels-Midland Co (ADM.N) on Tuesday reported a 96% rise in its third-quarter profit, bolstered by high demand and tight global grain supplies. Global grain merchants like ADM tend to thrive when crises such as drought or war trigger shortages in parts of the world. Tight global grain supplies and strong demand for food and fuel have kept grain prices high since Russia's invasion of Ukraine, which accounted for 10% and 15% of global wheat and corn exports before the war, helping the company's bottom line. "Global demand remains robust... We're well positioned to end 2022 strong, and carry that momentum into 2023," said Chief Executive Officer Juan Luciano. Register now for FREE unlimited access to Reuters.com RegisterReporting by Arshreet Singh in Bengaluru; editing by Milla NissiOur Standards: The Thomson Reuters Trust Principles.

☆ ADM's third-quarter profit nearly doubles
▼ + stars: | 2022-10-25 | by ( Mike Stone | Nathan Gomes | ) www.reuters.com time to read: 1 min

Oct 25 (Reuters) - Global grain merchant Archer-Daniels-Midland Co (ADM.N) on Tuesday reported a 96% rise in third-quarter profit, bolstered by high demand and tight global grain supplies. Net earnings attributable to ADM were $1.03 billion, or $1.83 per share, in the three months ended Sept. 30, compared with $526 million, or $0.93 per share, a year earlier. Register now for FREE unlimited access to Reuters.com RegisterReporting by Arshreet Singh in Bengaluru; editing by Milla NissiOur Standards: The Thomson Reuters Trust Principles.

☆ Democratic Rep. Dan Kildee faces off against Republican Paul Junge in Michigan's 8th Congressional District election
▼ + stars: | 2022-10-21 | by ( Hanna Kang | ) www.businessinsider.com time to read: +3 min

Rep. Dan Kildee is running against Republican Paul Junge in Michigan's 8th Congressional District. The 8th District is centered around the city of Flint, Michigan. Michigan's 8th Congressional District candidatesKildee was elected the representative for Michigan's 5th Congressional District pre-redistricting, succeeding his uncle Dale Kildee, who occupied the seat from 1977 to 2013. Voting history for Michigan's 8th Congressional DistrictMichigan's 8th Congressional District is centered around the city of Flint. His opponent, Junge, has raised $2.4 million, spent $2.1 million, and has $384,277 of cash still left to spend, as of September 30.

☆ Texas Sues Google Over Use of Facial Images
▼ + stars: | 2022-10-20 | by ( Miles Kruppa | ) www.wsj.com time to read: 1 min

Google earlier agreed to pay $100 million to settle a class-action lawsuit in Illinois. The Texas attorney general sued Alphabet Google on Thursday, alleging the search giant violated state laws by collecting biometric data on face and voice features without seeking the full consent of users. Texas alleged Google’s data-collection practices stretched back to 2015 and affected millions of the state’s residents, according to a complaint filed in state district court in Midland County, Texas.

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