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Stock Market & Financial Investment News

News Breaks
February 12, 2014
07:11 EDTDEDeere sees farm incomes lower in 2014 than in prior year
Deere's worldwide sales of agriculture and turf equipment are forecast to decrease by about 6% for fiscal 2014. Although farm incomes are expected to remain at healthy levels in 2014, they are forecast to be lower than in the previous year. In Deere's view, the decline will have a dampening effect on demand, especially for larger models of equipment. Partly as a result of these factors, industry sales for agricultural machinery in the U.S. and Canada are forecast to be down 5%-10% for the year, with the decline mainly reflecting lower sales of high-horsepower tractors and combines. In the U.S. and Canada, industry sales of turf and utility equipment are expected to be up about 5% for 2014 as a result of improved market conditions.Full-year industry sales in the EU28 are forecast to be down about 5% due to lower crop prices and farm incomes. In South America, industry sales of tractors and combines are projected to be down 5%-10% from strong 2013 levels. Industry sales in the Commonwealth of Independent States are expected to be down slightly for the year, while Asian sales are projected to be up slightly.
News For DE From The Last 14 Days
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December 19, 2014
13:47 EDTDEDeere files automatic mixed securities shelf
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06:36 EDTDEObama administration to ease many parts of Cuba embargo, NY Times says
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December 18, 2014
12:03 EDTDEDeere to sell crop insurance business to Farmers Mutual Hail Insurance Company
Deere & Company announced it has reached a definitive agreement to sell its crop insurance business, subject to regulatory approval, to Farmers Mutual Hail Insurance Company of Iowa , headquartered in West Des Moines, Iowa. The action is a result of Deere's previously announced review of strategic options for the crop insurance business. The agreement will result in Deere selling both John Deere Insurance Company and John Deere Risk Protection, Inc., which together made up the crop insurance business unit of John Deere Financial. Closing is expected in the first quarter of the 2015 calendar year.
December 10, 2014
20:02 EDTDEDeere reports November U.S./Canada utility tractor sales down 'a single digit'
Deere reports its U.S./Canada utility tractor sales were down "a single digit," while the industry rose 8% in November. Deere reports its U.S./Canada row-crop tractor retail sales were down more than the industry, which was down 29% in the month. Deere's U.S./Canada 4WD tractor retail sales were down more than the industry, which was down 45% in the month. In November, Deere's U.S./Canada combines retail sales were down double digits, but less than the industry, which was down 50%. Information from Deere's retail sales comment for November posted to company's investor relations website. Reference Link
13:53 EDTDEUSDA data still negative for Ag equipment makers, says Wells Fargo
Wells Fargo estimates USDA data for December indicates row crop cash flow will drop 21% from the prior year, which is consistent with November and still negative for farm equipment demand. The firm keeps its negative view on demand trends for farm equipment makers Deere (DE) and AGCO (AGCO). The firm maintains its Underperform rating on AGCO and Market Perform rating on Deere.

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