|Bid||132.04 x 900|
|Ask||138.48 x 1200|
|Day's Range||133.17 - 141.37|
|52 Week Range||128.32 - 169.99|
|Beta (3Y Monthly)||1.01|
|PE Ratio (TTM)||13.13|
|Earnings Date||Aug 16, 2019|
|Forward Dividend & Yield||3.04 (1.84%)|
|1y Target Est||174.83|
Ann Duignan, J.P. Morgan machinery and multi-industry analyst, joins CNBC's "The Exchange" to discuss why she sees Deere being skewed to the side.
CNBC's Morgan Brennan and Mike Santoli take a look at shares of Deere as agriculture feels the pressure of trade tensions.
Investors should buy this stock down to its annual value level at $134.22. Shares of Deere fell below their 200-day simple moving average at $152.65 and its semiannual pivot at $150.56 on Monday, May 13. Buying Deere on weakness is supported by the fundamentals as its P/E ratio is 15.14 with a dividend yield of 2.1%, according to Macrotrend.
Shares of Deere & Co. tanked Friday toward the lowest close in more than six months, after yet another disappointing earnings report from the agriculture, construction and turf-care-products maker, as the U.S. farming industry felt the pain of the trade war with China.
“Until there’s some kind of stability on crop prices or a resolution on the trade front, farmers will continue to repair equipment as best they can or go to used markets,” said Chris Ciolino, an analyst at Bloomberg Intelligence. U.S.-China trade tensions are flaring and African swine fever in China is decimating hog herds. The situation is “credit negative for Deere,” according to Bruce Clark, a senior vice president at Moody’s Investors Service.
Stocks that moved substantially or traded heavily on Friday: Deere & Co., down $11.17 to $134.82 The farm equipment maker's quarterly profit missed expectations amid weakness in the agriculture sector. ...
As expected, China retaliated against the U.S.’s increased tariffs by vowing this week to raise levies on $60 billion of goods, while also exploring other measures. Take these last two with a grain of salt, as it’s unclear how China would execute this kind of drastic action without painful consequences for itself. It’s unlikely China never buys a Boeing plane again, but the two fatal crashes of its 737 Max and the subsequent grounding of the jet make Boeing an easier target.
Deere earnings missed Q2 views and the farm equipment giant cut guidance. Shares have fallen as U.S. farmers face China trade war tariffs and other challenges.
Stocks did a good job bouncing off their morning lows, but how long can bulls keep that action up? The market would do a whole lot better if investors didn't have to worry about a tweet from the president sending a ripple through Chinese and U.S. trade negotiations, but that's the market we have right now. Let's look at some top stock trades to get started on next week. Top Stock Trades for Tomorrow 1: BaiduBaidu (NASDAQ:BIDU) has one of the worst-looking charts out there among the names that I follow.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIt made a really elongated wedge from 2015 to 2017. I was hoping the bulls would be able to keep the stock above the backside of this prior resistance mark, but so far, no cigar. Maybe they can salvage it next week, but it's looking pretty awful.Below all of its major weekly moving averages (and daily moving averages for that matter), as well as any meaningful support level and this one is simply a no-touch for traders. Shares are down more than 15% after reporting earnings. * 6 Chinese Stocks That Could Pop On a Trade Deal Until we see some hints of a reversal (maybe near $115 to $120) or until BIDU can reclaim $130 and $140, this one is stuck in no man's land for the time being. Top Stock Trades for Tomorrow 2: Tesla Click to EnlargeWe've been sounding the alarm bell on Tesla (NASDAQ:TSLA) since long-time range support near $245 to $250 gave way. It's been stuck in this nasty downtrend and is making new 52-week lows on Friday.Do bulls make a stand next week, perhaps near $210? Maybe. Or we might continue to see a flush. Wait for the move first, then react. Reclaiming channel support gives investors a level to shoot against while aiming for a retest of channel resistance. See how it trades on Monday and Tuesday. Top Stock Trades for Tomorrow 3: iQiyi Click to EnlargeDown more than 6% and it's clear that the market doesn't care about iQiyi's (NASDAQ:IQ) strong user growth or revenue growth. Profits are missing and that's worrying investors. It doesn't help that IQ is a Chinese stock too.The sign it was in trouble came once shares broke below $23, the gap-from level back in February. For those that needed an even more clear sign, the retest-and-fail earlier this month (purple arrow) showed that IQ's time was up.Below all of its major moving averages and with a trend pointed lower, IQ stock doesn't look good. Maybe it bottoms near $18 to $18.50. If it breaks this mark, there could be a long way down. Keep in mind this stock was below $15 back in December. For anything sustainable to get going on the long side, it needs to get above its 20-day moving average. Top Stock Trades for Tomorrow 4: Deere Click to EnlargeDown 7.25% on earnings and it's a tough day for Deere (NYSE:DE) too. Shares broke below range support at $155, as well as the 50-week moving average near $150. Now near $136, and DE may actually be setting up as a solid risk/reward long.Shares have only closed below $135 on a weekly basis once since December 2017. Should this level hold next week, it could be a good spot to nibble. There have been a few "shoots" below this mark -- some to the upper-$120s, some just into the $134s -- but by and large $135 has held. A close below could take DE to $125.Ideally, we see DE shoot below $135 before reversing higher and closing above this week's lows. Then we'll have a more measurable setup. Top Stock Trades for Tomorrow 5: Micron Click to EnlargeLast but not least, here's a good lesson in Micron (NASDAQ:MU). Shares are down 3.3% on Friday and have been hammered these past few weeks. Remember at the beginning of the month, we flagged the warning signs here. In hindsight, I should have been even more cautious.Shares were still OK despite that lower low (orange arrow) but then it notched a lower high as well. Once it broke $40.76 to the downside, that was the last-straw sign to bail. Now bouncing off $36, it's been an ugly ride. If trapped bulls are lucky, they'll get a bounce next week that they can unload into. * 3 Chinese Stocks to Buy Now and Hold for the Long Haul Otherwise, use this one as a lesson. When the trend bends, it's no longer your friend.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell did not hold a position in any of the aforementioned securities. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Stocks to Buy that Lost 10% Last Week * Top 7 Dow Jones Stocks of 2019 -- So Far * 5 Service Stocks That Can Win the Trade War -- According to Goldman Sachs Compare Brokers The post 5 Top Stock Trades for Monday: TSLA, BIDU, IQ, DE, MU appeared first on InvestorPlace.
An index that compiles various leading economic indicators rose for the third-straight month even as economists are increasingly aware that the current business cycle is about to become the longest on record.
posted weaker-than-expected second quarter earnings Friday, and lowered its full-year profit outlook, as "softening" agricultural market conditions, and reduced export market access, clouded its near-term forecasts. Group revenues, Deere said, rose 5% to $10.3 billion, just ahead of the $10.12 total forecast by analysts that cover the group. Looking into the 2019 fiscal year, Deere said it sees 2019 net income now coming in at $3.3 billion, down from a prior forecast of $3.6 billion, on a net equipment sales increase of around 5%, down from the 7% gain it had predicted in November.
U.S. stocks struggled for direction after three days of gains on Friday, as investors weighed mixed headlines on trade, with China's aggressive stance in its trade war with the United States remaining an overhang. After opening down 0.75%, the S&P 500 erased some losses after media reports that the United States was close to a deal to remove tariffs on steel and aluminum imports from Canada and Mexico. The original tariffs were on steel and aluminum and that is what started this whole trade war," said Art Hogan, chief market strategist at National Securities in New York.
Deere cut its profit and sales expectations for the year as a trade war between the U.S. and China escalates and farmers try to recover from a planting season besieged by heavy rains. Prices of soybeans targeted by Chinese tariffs last year fell to a 10-year low this week as the countries traded jabs . "Ongoing concerns about export-market access, near-term demand for commodities such as soybeans, and a delayed planting season in much of North America are causing farmers to become much more cautious about making major purchases," Deere Chairman and CEO Samuel Allen said in a prepared statement Friday.
Shares of Deere, known for its trademark green tractors and harvesting combines, fell as much as 6% to $137.18, as slump in demand for big agricultural machines has forced the company to cut production by 20 percent at two of its large factories in North America. "Ongoing concerns about export-market access, near-term demand for commodities such as soybeans, and a delayed planting season in much of North America are causing farmers to become much more cautious about making major purchases," Chief Executive Officer Samuel Allen said in a statement. China, the world's top importer of soybean, bought about $12 billion worth of U.S. soy in 2017, but mostly shifted purchases to Brazil last year because of the trade fight, leaving U.S. farmers with surplus produce.
The S&P 500 was trading flat but was off session lows on Friday as investors tracked trade headlines after China took a hard stance on its tariff war with the United States. After falling as much as 0.76% earlier in the session, the S&P 500 erased some losses, with traders pointing to media reports that the United States was close to a deal to remove tariffs on steel and aluminum imports from Canada and Mexico. The ruling Communist Party's People's Daily wrote the trade war will only make China stronger and will never bring the country to its knees.
Deere & Company earnings for the company's fiscal second quarter of 2019 have DE stock down on Friday.Source: Ford8n via Flickr (Modified)Deere & Company (NYSE:DE) starts off the earnings report for its fiscal second quarter the year with earnings per share of $3.52. This is an increase over the company's earnings per share of $3.14 from its fiscal second quarter of 2018. Unfortunately for DE stock, this has it missing Wall Street's earnings per share estimate of $3.61 for the period.Net income reported by Deere & Company for its fiscal second quarter of 2019 comes in at $1.14 billion. This is down from the company's net income of $1.21 billion reported in the same period of the year prior.InvestorPlace - Stock Market News, Stock Advice & Trading TipsOperating income from the Deere & Company earnings report for its fiscal second quarter of the year is $1.54 billion. That's better than the company's operating profit of $1.49 billion reported in its fiscal second quarter of the previous year.The Deere & Company earnings report for its fiscal second quarter of 2019 also includes revenue of $11.34 billion. This is up from the company's revenue of $10.72 billion reported during the same time last year. It also comes in above analysts' revenue estimate of $10.18 billion for the quarter, but couldn't keep DE stock from dropping today. * 6 Chinese Stocks That Could Pop On a Trade Deal "Although the long-term fundamentals for our businesses remain favorable, softening conditions in the agricultural sector have led Deere to adopt a more cautious financial outlook for the year," Samuel Allen, Chairman and CEO of Deere & Company, said in a statement.DE stock was down 6% as of noon Friday. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Stocks to Buy that Lost 10% Last Week * Top 7 Dow Jones Stocks of 2019 -- So Far * 5 Service Stocks That Can Win the Trade War -- According to Goldman Sachs As of this writing, William White did not hold a position in any of the aforementioned securities.Compare Brokers The post Deere & Company Earnings: DE Stock Dives on Q2 Miss appeared first on InvestorPlace.
For those of us who do track corporate earnings, quarterly performance for Deere & Co. for this quarter... had been looked forward to in about the same manner that an eleventh grader might anticipate a standardized test in let's say... Chemistry. JP Morgan's Ann Duignan had already placed an "Underweight" rating on Deere.