Wednesday, May 14, 2008

Deere, Oh Dear (DE)

The stock was recently down $8.11 (9%).
From Forbes:

Despite benefits from the declining dollar and a high demand for farming equipment as ethanol production increases, Deere & Co. couldn't meet analyst expectations and sent investors fleeing from what they thought was a strong company in the down market.

Shares of Deere & Co. dropped 8.1%, or $7.27, to $82.92, in afternoon trading.

Deere & Co. (nyse: DE ) is benefiting from the increase in agricultural activity due to the higher demand in ethanol production and is getting a boost in exports as the dollar's decline fuels foreign sales. Although the company continues to struggle in North America where its non-agricultural equipment businesses are primarily reliant....MORE