By Will FeuerShares of pest-management company Rollins fell after European rival Rentokil Initial warned of soft demand in North America for pest-killing services. Rollins shares slipped 9% to $32.80. Earlier Thursday, Rollins' chief rival in pest management, Rentokil Initial, said it struggled to win new customers in North America, reflecting soft consumer demand and a challenging macroeconomic environment. The company also warned it expects full-year revenue from its business in North America to be below its previous outlook. New York-listed American depositary receipts tied to shares of Rentokil fell 18% in Thursday trading.

Source: Wall Street Journal October 19, 2023 18:46 UTC