Tag: $Deere

Deere & Co.’s stock rose 0.6% early Thursday, after the maker of agricultural and construction equipment blew past earnings for its fiscal fourth quarter, overshadowing soft guidance for fiscal 2025.

Deere & Co.’s stock rose 4% early Thursday, after the agricultural and construction machinery maker swept past lowered earnings estimates for its fiscal third quarter.

Deere & Co said on Wednesday it would cut an unspecified number of production and salaried jobs to save costs as it grapples with a downturn in farm equipment demand.

Deere has trimmed its annual profit forecast for the second time, squeezed by slumping demand for tractors and combines as falling crop prices pressure farm income, sending its shares down 5% in premarket trading on Thursday.

Deere stock was dropping after the company reported better-than-expected fiscal first-quarter earnings. Guidance, however, was pushing the stock lower.

Shares of Deere & Co. dove to the lowest levels seen in months Wednesday, after the maker of agricultural, construction and turf equipment provided a downbeat full-year earnings outlook, with its business segments expected to see sales fall more than the industry.

Deere crushed Wall Street’s earnings estimates and increased fiscal-year financial guidance. The stock, however, was down. Current results were great, but investors are worried about whether the current phase of rising demand for agricultural equipment is over.