Deere & Company (DE)
After hours:
- Motley Fool
Deere's Profits Double. Investors Sell.
On Friday morning, agricultural equipment giant Deere & Company (NYSE: DE) announced that it just grew its profits about twice as fast as it grew its sales. Reporting its financial results for its fiscal second quarter 2022 Friday, Deere said its net sales and revenue came in at $13.4 billion, up 11% year-over-year. In just the first two hours of trading Friday, Deere stock fell 11.5%.
- Bloomberg
Deere Plunges Most Since 2008 on Supply Chain Snarls, Inflation
(Bloomberg) -- Deere & Co. slid the most in 14 years after the world’s largest manufacturer of agricultural equipment was the latest major US company bruised by supply chain snags and rising inflation. Most Read from BloombergWalmart’s Troubles Should Have Everyone on High AlertA $5 Trillion ‘Wealth Shock’ Is Cracking Americans’ Nest EggsHow an Energy Expert Triggered Vladimir Putin With One WordAeroflot Is Back to the Future as Sanctions Ground Its AmbitionsUkraine Latest: Zelenskiy Warns on To
- Motley Fool
Deere Falls Sharply as Industrials Weigh on Wall Street
The S&P dropped 64 points to 3,836, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) fell 274 points to 11,115. Deere (NYSE: DE) is a well-known manufacturer of heavy equipment, and it has its fingers on the pulse of the industrial sector. Deere announced its financial results this morning, and despite showing signs of strength, investors weren't impressed, and the stock fell sharply.
