Archer Daniels Midland Disappoints, Is Downgraded: ETFs to Watch PAGG, MOO, FXG
By Market News Video Staff, Tuesday, November 2, 1:11 PM ET
Archer Daniels Midland (NYSE:ADM) shares are falling today after it posted fiscal first quarter results that missed analyst expectations. The stock was also downgraded from outperform to neutral by Credit Suisse (NYSE:CS), and is trading down 7% Tuesday.
The stock is the #1 holding of the First Trust Consumer Staples AlphaIndex Fund (AMEX:FXG), comprising 4.98% of the total portfolio. That fund is trading down 0.25% today.
Archer Daniels is the sixth-largest holding in the Agribusiness ETF (AMEX:MOO), making up 4.77% of the fund. It is 3.77% of the Global Agriculture Portfolio (NASDAQ:PAGG).
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