Deere & Company, (DE): Founded in 1837 and based in Moline, Illinois, Deere & Company manufactures Agricultural Equipment, Commercial and Consumer Equipment, Construction and Forestry Equipment and distributes worldwide.
Market is expecting a profit of 3 cents a share for the quarter ended October 2009, a drop of 78 cents compared to its actual profit of 81 cents a share it posted in the same quarter a year ago. The company posted a profit of $0.48, $1.11, and $0.99 a share for the quarter ended January 2009, April 2009, and July 2009 respectively.
Currently trading at around $52.13 just under its 52 week high of $53.59 with an average volume of 5.6 million shares a trading day. DE is in my SHORT sell watch list for short term trading. Watch for earnings on Wednesday November 25, 2009 before market open.
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UPDATE: Deere & Company reported loss on charges and lower sale for its 4rth quarter ended October 2009. The company lost 53 cents a share for the quarter, market was expecting a profit of 3 cents a share. The loss included charges of $321.8 million for a write-down in the value of assets and restructuring expenses, otherwise, Deere said it would have earned 23 cents a share for the quarter. For the year, Deere reported a profit of $873.5 million, or $2.06 per share, down from $2.05 billion, or $4.70 per share a year earlier. Shares jumped about 3% to $53.86 during the trading session today.
