9:20 am Deere Rallies Following Earnings/Guidance
Deere (DE 76.38) reported fourth quarter earnings of $1.08 per share, which easily
topped expectations. Net sales (ex-financial services, other rev) fell 26.2% year/year to $5.93 billion
and fell short of expectations.
Following its results, shares rallied and are now at $80.00/share pre-market.
Sales included price realization of 1% for the quarter and full year. Additionally, sales included an unfavorable currency-translation effect of 5% for the quarter and full year.
The company said, "Deere has completed a successful year …More