Bayer Stock Slumps on Outlook Cut

Investopedia11-12

KEY TAKEAWAYS Bayer shares are falling 11% in German trading after the pharmaceuticals and crop science conglomerate reduced its full-year earnings target amid a tough agricultural market.The Monsanto...

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We plan to accelerate our cost and efficiency measures to partly compensate and remain laser focused on cash conversion,\" Chief Financial Officer (CFO) Wolfgang Nickl said.\n\n\n  Lower Grain Prices Hurt Agricultural-Focused Companies  \n The agricultural sector has been hit by larger Latin American corn harvests and bumper U.S. crops that have hurt grain prices this year. Agricommodities trader Archer Daniels Midland (ADM) last week cut its 2024 earnings per share (EPS) outlook, citing ongoing headwinds from slower market demand.\n\n\n Shares of Bayer, which is dealing with a slew of U.S. legal cases following its takeover of Roundup weed killer maker Monsanto, are down 35% this year.\n\nDo you have a news tip for Investopedia reporters? 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