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Deere stock surges after revenue beats by more than $2 billion as infrastructure spending provides a boost

Deere stock surges after revenue beats by more than $2 billion as infrastructure spending provides a boost

Shares of Deere & Co. surged 3.7% toward a seven-month high in premarket trading Wednesday, after the agriculture, construction and forestry equipment maker reported fiscal fourth-quarter sales that were well above expectations, and provided an upbeat full-year outlook, citing positive farm fundamentals and fleet dynamics and increased investment in infrastructure. Net income rose to $2.25 billion, or $7.44 a share, from $1.28 billion, or $4.12 a share, in the year-ago period. That beat the Fact