|Bid||165.12 x 1000|
|Ask||167.00 x 800|
|Day's Range||164.56 - 166.58|
|52 Week Range||128.32 - 169.99|
|Beta (3Y Monthly)||1.33|
|PE Ratio (TTM)||16.08|
|Earnings Date||Aug 16, 2019|
|Forward Dividend & Yield||3.04 (1.84%)|
|1y Target Est||168.89|
The Zacks Analyst Blog Highlights: Johnson & Johnson, NextEra, Deere, Cintas and Canadian Pacific
Bank of America now thinks Deere Stock is a buy, but there is no clear consensus on the stock on Wall Street.
(Bloomberg) -- President Donald Trump said he’d summon social media companies for a meeting at the White House to discuss conservative grievances about alleged political bias on their platforms, and that he had directed his administration to explore methods to protect online speech.“We will ask representatives of the major social media platforms to join me at the White House over the next month,” Trump told his audience at an event Thursday the White House billed as a “social media summit.”“Have a big meeting and a real conversation,” Trump said. He also said he would direct the administration to “explore all regulatory and legislative solutions to protect free speech and the free speech rights of all Americans.”“We’re fighting for you very hard,” the president said earlier, after he and other speakers at the event complained of suffering censorship by social media companies. “We’re going to be calling a big meeting of the companies for -- in a week or two. They have to be here.”While Facebook Inc. and Twitter Inc. and other internet platforms weren’t invited to Thursday’s event, several presidential fans, provocateurs, leaders of conservative groups, media figures, and lawmakers said they were going -- including some who’ve faced allegations of racism and antisemitism, trolling and conspiracy theories.“Some of you are extraordinary,” Trump told the audience. “Can’t say everybody. The crap you think of is unbelievable.”Later, he added: “Some of you guys are out there. I mean it’s genius, but it’s bad.”Representatives of Google, Facebook and Twitter declined to comment on the potential White House meeting.Bias ClaimsThe president said the “journalists” and “influencers” who attended the event are “fulfilling a vital role in our nation” by communicating “directly with our citizens without having to go through the fake news filter.” Trump has often said his @realDonaldTrump Twitter account, where he frequently announces official news, is vital for him to communicate directly with the American public.Despite claims that they face systematic bias by companies hosting social media platforms, Trump enjoys an audience of about 62 million followers at his personal Twitter account and more than 24 million at his official Facebook page. He said he and his summit audience reach a combined “half a billion followers.”“I know that we’ve been blocked,” Trump said, relating anecdotes about people telling him they were unable to follow his Twitter account.The event was billed as a way to “bring together digital leaders for a robust conversation on the opportunities and challenges of today’s online environment,” according to a statement announcing the meeting. But the confirmed attendees were primarily conservative tech critics who echo Trump’s own complaints that social media systematically silences conservative voices.Trump said that when the conference concludes, he’ll speak on the 2020 U.S. Census. Trump will retreat from his effort to include a citizenship question in the decennial census after a defeat at the U.S. Supreme Court, and will seek the information through other means, an administration official said.The president has repeatedly accused large technology platforms such as Twitter, Facebook and Alphabet Inc.’s Google of anti-conservative bias, with little evidence. Last month, he said the U.S. government should sue Facebook and Google for unspecified wrongdoing.In May, the administration posted a form urging people to report potential political censorship by the social media companies, which White House spokesman Judd Deere said on Wednesday got “thousands of responses.” The form is now defunct.“I don’t think there’s going to be serious policy matters discussed,” said Ethan Porter, a professor at George Washington University who has studied the political role of media in the Trump era. “It looks like a theatrical gathering at the White House -- a venting session for conservative media stars.”Senator Josh Hawley also spoke at the event. The Missouri Republican is pushing legislation that would require social media companies to certify they don’t engage in censorship based on politics or face revocation of liability protections for content their users post. Trump called his proposal “important.”QAnon, O’KeefeThe summit attracted figures like Bill Mitchell, a Twitter booster of Trump’s who has promoted the conspiracy theory known as QAnon; as well as the person behind a pro-Trump meme account known as @CarpeDonktum, whose work has attracted retweets from the president.Brent Bozell, who heads an organization devoted to exposing alleged liberal media bias and once compared President Barack Obama to “a skinny, ghetto crackhead,” was also expected, alongside another Twitter personality who has said the media was pushing a civil war.The conservative nonprofit Project Veritas, which uses undercover sting operations in attempts to expose wrongdoing, said founder James O’Keefe would be there. Senator Marsha Blackburn, a Tennessee Republican and frequent Google critic, is scheduled to attend, as is Republican Representative Matt Gaetz of Florida.Traditional Washington conservative organizations such as the Heritage Foundation will be represented. So will a fairly new one, the youth-focused group Turning Point USA, which has been accused of promoting baseless claims against liberals.The White House schedule initially listed the event as closed to the press, but a revised version said Trump’s remarks will be open to reporters. “The Fake News Media will also be there, but for a limited period,” Trump tweeted.Ben Garrison, a pro-Trump political cartoonist, tweeted Wednesday that his invitation had been rescinded after criticism that one of his works, which depicted Jewish financiers controlling U.S. foreign policy, was anti-Semitic. Garrison denied the accusation.Election ConnectionAccusing social media companies of shutting out conservative agendas could help Trump maintain ties to allies, some of whom have devoted media followings of their own, Porter said. Trump officially launched his re-election campaign last month, and it reported last week that he and the Republican National Committee had together raised $105 million in the second quarter and had $100 million in available cash.Nearly 65% of Republicans or those who lean Republican believe big tech companies support liberal views over conservative ones, and a full 85% think it’s at least somewhat likely the companies are intentionally censoring viewpoints, according to a Pew Research Center survey from last year.“There is a segment of the population that’s motivated to get out to vote based on what they’re against,” said Kevin Madden, a former spokesman for Republican Mitt Romney’s presidential campaign who has also worked with technology companies.Michael Beckerman, president of the Internet Association, a trade group that represents large technology companies, said in a statement that his members provide “the best tool for promoting voices from all political perspectives in history,” including conservatives.“Internet companies are not biased against any political ideology, and conservative voices in particular have used social media to great effect,” Beckerman said.Pressure on the technology companies is increasing in Washington as Republicans in Congress dig into allegations of conservative bias, Democrats in the House conduct an antitrust inquiry and enforcers at the Justice Department and the Federal Trade Commission divvy up oversight of Google, Facebook, Apple Inc., and Amazon.com Inc. Politicians from both parties are also exploring limiting liability protections that the companies enjoy for third-party content.Jesse Blumenthal, who directs tech policy for the network of groups funded by the libertarian Koch brothers, said that those on the right have long feared gatekeepers would keep conservative opinions from out of the public square.“That is not a new complaint,” said Blumenthal, who advocates for the government to stay out of speech issues. “What is new is, so what do you want the government to do about it?”The fight to remove the government from regulating speech resulted in the successful push to end the “fairness doctrine” that required television broadcasters give equal amounts of time to candidates seeking public office, Blumenthal said. Trump has mused about bringing the idea back for social media.\--With assistance from Alyza Sebenius and Margaret Talev.To contact the reporter on this story: Ben Brody in Washington at firstname.lastname@example.orgTo contact the editors responsible for this story: Sara Forden at email@example.com, Justin BlumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
JDCC also will be the servicer of the loans backing the transaction and the administrator for the issuer. The notes will be backed by a pool of fixed rate loans secured by new and used agricultural and construction equipment.
(Bloomberg) -- The White House abandoned a push to end rebates paid to middlemen who negotiate drug prices on behalf of health insurers, a move that could turn scrutiny back on how drugmakers themselves set prices.President Donald Trump has made lowering prescription-drug costs a top priority of his administration, and ending rebates was seen as a vital part of that effort.The reversal caused investors to recalibrate their expectations. After mostly languishing this year, shares of companies that operate large pharmacy-benefit managers rallied, with CVS Health Corp. rising 7% to $59.23 at 9:35 a.m. in New York, while UnitedHealth Group Inc. advanced 3% to $254.98.The president’s proposal would have prohibited drugmakers from paying rebates to PBMs in government programs such as Medicare. The move could have upended a complex system that influences tens of billions of dollars of pharmaceutical spending.“Based on careful analysis and thorough consideration, the President has decided to withdraw the rebate rule,” said Judd Deere, a White House spokesman. He said that the administration was encouraged by bipartisan discussion on legislation to control drug costs.Rebates had become a popular target of criticism in Washington after drug companies lobbied aggressively to cast them as the reason for high prices. Pharmacy-benefit managers negotiate drug discounts in the form of rebates, often keeping some of that money for themselves.The practice, critics said, gives drugmakers a reason to keep list prices high, distorts incentives for drug plans who are supposed to prioritize the interest of their clients and leaves consumers paying more out of pocket for prescription drugs.Substantial ShiftThe about-face represents a second dramatic turn this week for the Trump administration’s campaign to rein in rising pharmaceutical costs. On Monday, a federal judge ruled the Department of Health and Human Services overstepped its authority with its plan to force drugmakers to disclose list prices in advertisements.Pharmacy-benefit managers blame drug companies for soaring prices and have said that rebates help keep overall health costs down.“We’re pleased the administration recognized the impact the rebate rule would have on seniors,” said CVS spokesman T.J. Crawford, “and look forward to continuing to work with all stakeholders on lowering drug costs. Any solution should start with addressing drug prices.”The end of the rebate push is likely to swing discussion back toward the pricing practices of big drugmakers, and it could add momentum to other proposals that have been floated by the administration, such as tying drug costs to an index of international pharmaceutical prices. Trump last week said his administration is working on an executive order to tie drug prices in U.S. government health programs to the rates paid by other industrialized nations.The shift is “a substantial setback for drug manufacturers that could have seen a windfall” from the rebate overhaul, said Hunter Hammond, an analyst at Height Securities, in a note to clients.The Nasdaq Biotechnology Index, often viewed as a barometer of investor sentiment about drug prices, was down 1.2% in New York.(Adds opening share prices in third paragraph)\--With assistance from Margaret Talev and Robert Langreth.To contact the reporter on this story: Anna Edney in Washington at firstname.lastname@example.orgTo contact the editors responsible for this story: Drew Armstrong at email@example.com, Timothy AnnettFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Wall Street, not the weather, is creating volatility for agricultural equipment makers even as the outlook for farm profits improves.
Shares of Deere & Co. fell 0.8% in morning trading Wednesday, after the maker of agriculture, construction and turf care equipment was downgraded at UBS, citing concerns over valuation following the sharp bounce over the past couple months. Analyst Steven Fisher cut his rating to neutral from buy, but raised his stock price target to $167 from $158. Fisher said he now believes the stock "fairly reflects the balance of near-term caution vs. the potential for a pick up in the large ag replacement cycle in 2020." The downgrade comes after the stock has soared 20.2% since closing at a 6 1/2-month low of $134.82 on May 17. Over the same time, the SPDR Industrial Select Sector ETF has gained 3.0% and the Dow Jones Industrial Average tacked on 4.4%. Fisher said his research indicates demand will weaken in the next one to two quarters, as farmers hold back on purchases given "poor growing conditions and ongoing trade uncertainty," although higher gain prices are a "positive indicator for future farm income."
Shares of Deere & Company (NYSE: DE ) have sharply rebounded from May's weakness and the recovery now reflects the company's outlook, according to UBS. The Analyst UBS analyst Steven Fisher downgraded ...
Analysts at UBS downgraded Deere , the agricultural-machinery manufacturing company, to neutral from buy, citing stagnant near-term demand. The shares were down 1.4% to $161 in premarket trading Wednesday. "While higher grain prices are a positive indicator for future farm income, we expect machinery demand to be restrained until the 2019 growing season," UBS's Steven Fisher wrote in a note.
Deere & Co NYSE:DEView full report here! Summary * Perception of the company's creditworthiness is positive * Bearish sentiment is low Bearish sentimentShort interest | PositiveShort interest is low for DE with fewer than 5% of shares on loan. The last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment among investors who seek to profit from falling equity prices. Money flowETF/Index ownership | NeutralETF activity is neutral. The net inflows of $5.25 billion over the last one-month into ETFs that hold DE are not among the highest of the last year and have been slowing. Economic sentimentPMI by IHS Markit | NeutralAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Industrials sector is rising. The rate of growth is weak relative to the trend shown over the past year, however. Credit worthinessCredit default swap | PositiveThe current level displays a positive indicator. DE credit default swap spreads are near the lowest level of the last one year and indicate improvement in the market's perception of the company's credit worthiness.Please send all inquiries related to the report to firstname.lastname@example.org.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
(Bloomberg) -- President Donald Trump on Monday boasted the U.S. is ranked No. 1 for access to clean drinking water as he emphasized American environmental gains despite seeking to roll back rules meant to preserve them.“From day one, my administration has made it a top priority to ensure America has the cleanest air and water in the planet,” Trump said to conservative advocates assembled in the the East Room of the White House.Trump rattled off an array of achievements, including reductions in conventional air pollution, the cleanup of toxic Superfund sites and efforts to combat algae blooms in Florida.Trump’s address on “America’s environmental leadership” came as polls show voters increasingly concerned about global warming and unhappy with the president’s approach to the issue. Just 29% of voters in a Washington Post-ABC News telephone survey released Monday said they approved of the way Trump is handling climate change.As the effects of climate change become more apparent in the form of catastrophic hurricanes, floods, droughts and wildfires, Trump’s environmental agenda has focused chiefly on rewriting Obama-era rules limiting greenhouse gas emissions -- not imposing aggressive new mandates that would keep global warming in check.Environmental advocates called the episode surreal. “It must be opposite day at the White House,” quipped Dan Lashof, U.S. director of the World Resources Institute.Jill Tauber, vice president of litigation, climate and energy at Earthjustice, said it was “absurd for President Trump to claim any environmental credentials when his administration continues to drive a destructive pro-polluter agenda at the expense of the American people.”Democratic opponents have criticized the president’s record and are competing to outdo each other with proposals for throttling heat-warming carbon dioxide emissions. During two days of presidential debates last month, the candidates cast Trump as retreating from an urgent global fight to prevent the most catastrophic consequences of climate change. Almost all of the Democratic presidential candidates have pledged to rejoin the Paris climate accord -- or strengthen U.S. greenhouse-gas-cutting commitments. And Washington Governor Jay Inslee has made the issue the centerpiece of his bid for the White House.Critics cast Trump’s speech as a failed effort to rehab his image, with Tiernan Sittenfeld, senior vice president of government affairs at League of Conservation Voters, calling it “a made-for-TV moment from our made-for-TV president trying to make up for some bad poll numbers on his environmental record.”But Trump -- contrasting his record with his predecessor’s -- said he’s managed to protect the environment without destroying jobs.“A strong economy is vital to maintaining a healthy environment,” he said.Indeed, the U.S. has made strides cleaning up its air and water have since the 1970s, after a series of environmental disasters -- an oil spill off the California coast, toxic pollution emanating from New York’s Love Canal and Ohio’s Cuyahoga River bursting into flames -- spurred anti-pollution laws and the creation of the Environmental Protection Agency.Conventional criteria air pollution has dropped 73% from 1970 to 2017, even though the economy grew more than 260% in the same time. And while 40% of U.S. water systems failed to meet drinking water standards in 1970, more than 90% do today, EPA Administrator Andrew Wheeler said Monday.Yet environmental advocates say those gains were driven by decades-old federal clean air and water laws that Trump is now undermining. The administration’s overhaul of former President Barack Obama’s Clean Power Plan -- replacing sweeping power-plant pollution curbs for modest efficiency improvements at the sites -- was published in the government’s Federal Register on Monday.In fact, carbon dioxide emissions that drive climate change just increased, after generally falling since 2005. There was a 2.7% hike in greenhouse gas emissions from fossil fuel combustion in 2018, the second-largest annual increase since 2000, according to a report from the Rhodium Group LLC. And economy wide, greenhouse gas emissions likely rose between 1.5% and 2.5% last year -- putting U.S. emissions at 10.7% to 11.6% below 2005 levels, a common benchmark.Trump’s environmental record is nothing to boast about, said Collin O’Mara, president of the National Wildlife Federation. “Actions speak louder than words -- and for the past 900 days this administration has repeatedly acted to allow more mercury, smog and carbon pollution into our air, more nutrient and sediment pollution into our waterways, and more destruction of essential wildlife habitat in our treasured natural places,” he said by email.Trump made revamping environmental regulation a signature issue on the campaign trail and rapidly moved to fulfill those promises once in the White House. He directed the Interior Department to resume selling coal on federal land, ending a moratorium imposed under Obama. His administration began easing limits on oil well releases of methane, a super-potent greenhouse gas. Trump promised the U.S. would abandon the Paris climate accord -- a global pact to cut emissions. And the Trump administration has proposed freezing vehicle emission and fuel economy standards at 2020 levels, preventing planned increases that had been set in motion under Obama.Under Trump, political appointees have overruled concerns from EPA experts, revamped scientific advisory panels and moved to discount the health benefits of cleaning up some air pollution.Trump administration officials and supporters emphasize that the U.S. can make environmental progress without the heavy hand of government. And they have asserted that the administration’s regulatory changes will unleash private sector innovation, allowing both the U.S. economy and environment to thrive.“President Trump has shown true leadership on the environment from day one,” said Mandy Gunasekara, a former deputy assistant administrator at the EPA. “He strategically focused his administrative resources toward addressing tangible environmental issues with practical solutions so all our nation’s citizens can enjoy access to the cleanest air and safest drinking water.”To contact the reporter on this story: Jennifer A. Dlouhy in Washington at email@example.comTo contact the editors responsible for this story: Jon Morgan at firstname.lastname@example.org, Elizabeth WassermanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Dividend paying stocks like Deere & Company (NYSE:DE) tend to be popular with investors, and for good reason - some...
AccuWeather founder and CEO Dr. Joel Myers talks about the flooding in the Midwest and climate change.
The U.S-China trade war truce is likely to buoy the agricultural equipment industry which has been plagued with trade concerns.
U.S. crop conditions and Chinese trade negotiations led Wells Fargo analyst Andrew Casey to increase his price targets on Deere and AGCO stock by about 11% on average.
Investors should focus on the industries and companies that have been most sensitive to trade news in recent years
The short answer: China, corn, and rain.After dropping 19% in the first two weeks of May, stock in Deere & Co. (DE) has been gaining on an unusual combination of factors. The resumption of trade talks between the US and China, a spike in the price of corn, and unseasonably poor weather in the rich farm belt of the Midwest have all come together and boosted a company that had been having trouble gaining traction. Deere is on an upward trajectory now, having gained 23% since May 17. The China FactorThis is the one that’s been getting all the headlines. The ongoing dispute between the US and China has seen both sides initiate protective tariffs and threaten more drastic actions, and global financial markets and trading networks have been feeling the pressure. That pressure has eased in recent days, however, as Presidents Trump and Xi have agreed to meet personally at the upcoming G20 summit.Both leaders are expressing optimism ahead of the meeting. President Trump has said, “I think we have a chance. I know that China wants to make a deal,” while Xi has added, “The key is to show consideration to each other’s legitimate concerns.” The upbeat talk from the Presidents has buoyed markets in recent sessions.In the last week Deere has gained from the happy talk on trade, but the stock’s run up began several weeks earlier. Shares in Deere have been on an upward trajectory since bottoming out on May 17. Here Comes the Rain AgainAnd now we get to corn and rain. The weather in the Midwest has been unusually cold this year. There are snow warnings in the Colorado Rockies, as low down as 9,000 feet, while heavy rains and cold snaps have delayed the planting season in the nation’s most productive farming regions. The delays have lowered forecasts for the 2019 harvests and tightened the worldwide crop supply. At the same time, demand remains high. The predictable result is higher agricultural prices.The most immediate gainer there is corn. Corn bottomed out on May 10 and has risen 31% since then to reach a five-year high. Wheat is also up, having gained 29% since May 10, although it has not reached record levels.Notice the dates – corn and wheat both started rising just seven days before the price of Deere’s stock started climbing. The rising prices assured farmers that they would not be financially ruined by the looming bad season, and they began making needed investments in equipment purchases and maintenance. Deere is a direct beneficiary of those investments, and the stock price reflects it.Josh Brown, CEO of Ritholtz Wealth Management, agrees that Deere is gaining more from corn than easing trade tensions. He points out, “If you take a look at the chart, Deere started to break out in the middle of May. It stopped trading on tariff headlines, started trading on corn prices which are now going up.” This Deere is RunningWall Street’s analysts have taken note – a 23% gain in a lagging industrial stock is sure-fire attention-getter. Writing from Baird on June 16, Mircea Dobre sums up the support for DE shares: “Corn has rallied sharply breaking out of a five-year range as persistent wetness has raised supply concerns. Prices seem poised to move higher; this helps farm economics which should drive equipment demand.” In line with his optimistic comment, Dobre upgraded DE shares to a ‘Buy’ rating.To go along with his upbeat outlook, he also raised his price target by 35%, to $175. That may turn out to be too low, however, as DE’s price has already run up to $166. Dobre’s target gives the stock a 4.8% potential upside.Five-star analyst Stephen Volkmann, of Jefferies, has also upgraded DE, moving the stock from ‘Hold’ to ‘Buy.’ He cites the tighter crop supplies in the global market and consequent higher prices in support of his upgrade, saying, “Positive momentum in farmer net income support double-digit large equipment growth through 2020.”Elaborating on the improved outlook for farmers, Volkmann said in a June 24 note, “We believe farm fundamentals are finally turning. A tightened global crop supply demand balance and positive momentum in farmer net income support double-digit large equipment growth through 2020.” Volkmann’s price target, $190, indicates room for a 14% upside.Overall, Deere has a ‘Moderate Buy’ rating from the analyst consensus, based on 9 buys, 3 holds, and 1 sell assigned in the past three months. These ratings still partially reflect the more downbeat outlook that prevailed in the early part of May; the higher price targets and ratings upgrades that are now starting to come in have not had time to fully reflect in the aggregate ratings. The same effect is visible in the price target. The average PT of $163 still includes lower values assigned in past weeks; since then, the stock has risen fast and now trades for $166. If current trends hold, expect the price target to adjust as analysts reevaluate the stock.View DE Price Target & Analyst Ratings Detail
On June 25, US Secretary of Agriculture Sonny Perdue told CNN in an interview that the US-China trade war has impacted US farmers. He said that farmers “are one of the casualties” of the trade war.