Deere to slash costs after trade war hits earnings

CHICAGO: Deere & Co. on Friday announced a review of costs after quarterly profits yet again missed Wall Street's estimates, hurt by bad weather and the U.S.-China trade war that have depressed sales of farm machines.

The Moline, Illinois-based company cut its full-year earnings outlook for the second time in the past three months. The year-long tariff war between the United States and China has slashed the export earnings of American farmers. China imported US$9.1 billion of U.S. farm produce in 2018, down from US$19.5 billion in 2017, according to the American Farm Bureau.

Philippines Philippines Latest News, Philippines Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Deere cuts full-year earnings forecast after profits miss estimatesDeere & Co.'s third-quarter earnings on Friday missed Wall Street estimates, hurt by the U.S.-China trade war that has dented the demand for farm ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Deere cuts full-year earnings forecast after profits miss estimatesDeere & Co.'s third-quarter earnings on Friday missed Wall Street estimates, hurt by the U.S.-China trade war that has dented the demand for farm ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Asia: Stocks choppy as trade war fears dominate markets[HONG KONG] Asian markets were jittery Friday as a modest rebound in US equities failed to ease fears over the US-China trade war and its impact on the world economy. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »