John Deere (DE) Stock Tumbles Amid Market Upturn

Deere (DE) Stock Drops Despite Market Gains: Important Facts to Note

Deere & Company (DE) stock fell 2.2% on Wednesday, despite the broader market experiencing gains. The decline came despite the company's impressive quarterly results, which saw its earnings and revenue beat expectations.

Here are some important facts to note:

• Deere reported earnings of $4.04 per share, beating estimates of $3.85. Revenue came in at $12.5 billion, exceeding expectations of $12.1 billion.
• The company's agricultural equipment segment saw a 14% year-over-year increase in sales, driven by strong demand for tractors and combines.
• Deere's construction and forestry segment saw a 17% year-over-year increase in sales, driven by strong demand for backhoes and skid-steer loaders.
• The company's cash and cash equivalents stood at $6.5 billion at the end of the quarter, providing a strong financial foundation for future growth.
• Deere's guidance for the full year was also impressive, with the company expecting earnings of $15.25 to $16.25 per share, beating estimates of $15.15.

Despite the impressive results, Deere's stock fell due to concerns over the company's exposure to trade tensions and the potential impact on its agricultural equipment business. The decline also came as investors took profits from recent gains in the stock.

Looking ahead, Deere's strong financial position and guidance suggest that the company is well-positioned for future growth. However, investors will be closely watching the company's exposure to trade tensions and the potential impact on its agricultural equipment business.