Deere trims earnings forecast on trade war woes

  • 📰 Reuters
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 97%

United States News News

United States United States Latest News,United States United States Headlines

Deere & Co.'s third-quarter earnings on Friday missed Wall Street estimates...

) third-quarter earnings on Friday missed Wall Street estimates, hurt by the U.S.-China trade war that has dented the demand for its farm machines, forcing the company to revise down its full-year profit and sales growth forecasts.

China imported $9.1 billion of U.S. farm produce in 2018, down from $19.5 billion in 2017, according to the American Farm Bureau. Deere said industry sales of agricultural equipment to be about the same as last year in the United States and Canada, which account for 60% of its overall business. Sales in the region were earlier projected to be flat to up 5% earlier.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Trade wars are fun and easy to win...

Worldwide trade war woes. Try saying that three times.

Trump = WINNING!!

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in US

United States United States Latest News, United States United States Headlines

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

Stocks making the biggest moves premarket: Deere, Nvidia, GE, Facebook, Capital One & moreThese are the stocks posting the largest moves before the bell. No they are not a good investment at all. They will crash and can be hacked and only a sick nosey body wants to sit and watch them all day. Fed Ex is the best investment at this time I just woke .Ill tell more later GE is going to tank like insane....
Source: CNBC - 🏆 12. / 72 Read more »