BUZZ - FMC shares plummet after the company warns of a $675 million charge for the third quarter

October 15 - ** Shares of agricultural chemicals company FMC Corporation (FMC.N) plunged 44% in pre-market trading, falling to $4.52

** The company warned that it will take charges of $625 million to $675 million in the third quarter, which will impact revenue and adjusted EBITDA

** These charges will result from “commercial actions” taken to boost demand

** FMC will reduce prices for certain products in the Brazil, Argentina, US and Canada markets

** The company now expects third-quarter revenue to be between $65 million and $125 million, significantly below analysts’ estimates of $869.3 million—data compiled by LSEG

** Of 19 brokerages, 5 rate the stock as “buy” or higher, 12 rate it “hold,” and 2 rate it “sell”; the median price target is $12

** The current price-to-earnings ratio of the stock is 5.40 times the expected earnings per share for the next 12 months, well below the industry median of 11.30 times

** Including volatility on this trading day, FMC’s cumulative decline so far this year has exceeded 41%

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