This morning, heavy-equipment manufacturer Deere & Co. (DE) announced that its second-quarter earnings increased 16% as a result of improving sales of farm and construction equipment.

Deere earned $1.58 per share during the quarter, excluding a charge related to health care legislation. Including the charge, the company earned $1.28 per share, topping last year's same-quarter results of $1.11 per share and the consensus estimate of $1.09 per share. Quarterly revenue checked in at $7.13 billion, 6% better than a year earlier and better than the consensus estimate.

Continue reading Deere & Co. Issues Solid Quarterly Earnings

Deere & Co. Issues Solid Quarterly Earnings originally appeared on BloggingStocks on Wed, 19 May 2010 10:30:00 EST. Please see our terms for use of feeds.

Morgan thus predicted that corn prices are poised to fall, which will in turn threaten farmers' purchasing power. Farm equipment sales appear to have already peaked, the financial firm said.

The shares didn't exactly crash the day of the downgrade, but have steadily slipped and given up the rather impressive gains made during the first full week of trading this year.

Continue reading Time to go Deere hunting?

Time to go Deere hunting? originally appeared on BloggingStocks on Thu, 22 Jan 2009 16:45:00 EST. Please see our terms for use of feeds.

Here are some highlights from this past week's earnings coverage from BloggingStocks:

• CarMax Inc. (NYSE: KMX) Q1 profits tumbled despite its aggressive expansion program.
• Chiquita Brands International Inc. (NYSE: CQB) warned it would miss earnings due to cost hikes.
• Circuit City Stores Inc. (NYSE: CC) Q1 loss widened as same-store sales dwindled.
• Commercial Metals Co. (NYSE: CMC) Q3 profits declined despite strong demand, but beat estimates.
• Coventry Healthcare Inc. (NYSE: CVH) lowered its Q2 and full-year outlooks after a disappointing April.
• FedEx Corp. (NYSE: FDX) missed estimates on higher fuel prices and offered lackluster guidance.
• Ford Motor Co. (NYSE: F) warned that 2008 full-year results would be worse than those of 2007.
• General Electric Co. (NYSE: GE) was downgraded by JP Morgan because of risk to earnings.
• J.M. Smucker Co. (NYSE: SJM) missed Q4 earnings expectations despite acquisitions-based growth.
• La-Z-Boy Inc. (NYSE: LZB) said it swung to a Q4 loss due to diminishing retail sales.
• Lehman Brothers Holdings Inc. (NYSE: LEH) CEO expressed his disappointment in the Q2 results.
• Merrill Lynch & Co. (NYSE: MER) profit warnings and write-downs hit the rumor mill.
• Morgan Stanley (NYSE: MS) beat low expectations despite a hefty decline in Q2 profits (see transcript).
• Pier 1 Imports Inc. (NYSE: PIR) narrowed its Q1 loss but still fell short of expectations.
• Winnebago Industries Inc. (NYSE: WGO) posted dismal Q3 results but still beat low expectations.

More earnings highlights from this week: Goldman Sachs, Best Buy, General Mills, Carnival and others

Continue reading Earnings highlights: Morgan Stanley, FedEx, Ford, GE, Circuit City and others

Earnings highlights: Morgan Stanley, FedEx, Ford, GE, Circuit City and others originally appeared on BloggingStocks on Sat, 21 Jun 2008 16:40:00 EST. Please see our terms for use of feeds.

Continue reading Some agricultural stocks to consider from BusinessWeek

Some agricultural stocks to consider from BusinessWeek originally appeared on BloggingStocks on Fri, 20 Jun 2008 15:17:00 EST. Please see our terms for use of feeds.

Earnings preview: Is Deere still running? originally appeared on BloggingStocks on Tue, 13 May 2008 14:59:00 EST. Please see our terms for use of feeds.

John Deere tractors recalled originally appeared on BloggingStocks on Tue, 22 Jan 2008 17:57:00 EST. Please see our terms for use of feeds.

The agriculture bull market had been linked to ethanol. Turns out that ethanol is only one piece of the puzzle. What we are seeing for everything from fertilizer to farm equipment to seeds is that there are so many uses and calls on crops that we are having a planting renaissance that hasn't been seen in years.

We have an amazing moment in ag: we are supply-constrained for everything. Fertilizer demand is far exceeding supply, so you get an Agrium (NYSE: AGU) (Cramer's Take) buying a UAP (NASDAQ: UAPH) (Cramer's Take) -- and Agrium goes up.

Fewer players, tighter supply, no new plants coming on to speak of -- this is an amazing moment.

Continue reading Cramer on BloggingStocks: One intact bull market: Agriculture

Cramer on BloggingStocks: One intact bull market: Agriculture originally appeared on BloggingStocks on Tue, 04 Dec 2007 09:09:00 EST. Please see our terms for use of feeds.

Deere & Co. (DE) stands to reap from CNH earnings originally appeared on BloggingStocks on Tue, 23 Oct 2007 11:19:00 EST. Please see our terms for use of feeds.

Spurred by demand for ethanol, U.S. farmers have planted more corn than ever before: 92.9 million acres. The bumper corn crop was front and center at this year's Farm Progress Show in Decatur, Illinois, which shows off the latest in farming trends and technologies to an increasingly global audience.

Despite recent protests in France over its genetically modified crops, St. Louis based Monsanto Company (NYSE: MON) not only featured new drought- and pest-resistant corn and soy products to international dealers, but also hoped to shop for the best characteristics of foreign crops from those dealers.

Deere & Company (NYSE: DE) took the opportunity to showcase its biggest roll-out of new products -- from tractors to cotton pickers -- in years. They also featured their recent expansion into international markets, including western Europe, South America, and China. Incidentally, Deere has just announced a stock split and increased dividend.

U.S. Agriculture Secretary Mike Johanns attended the show and took the opportunity to urge Congress to restore the 2007 Farm Bill to more closely resemble the White House version. He also urged Congress to ratify pending free trade agreements with Panama, Peru, and South Korea.

Decatur-based Archer Daniels Midland Company (NYSE: ADM), which recently announced an organizational restructuring, and Peoria-based Caterpillar Inc. (NYSE: CAT), which has its own expansion plans in China, were also represented at the show.

Farm Progress Show highlights: Abundant corn, global reach originally appeared on BloggingStocks on Thu, 30 Aug 2007 18:41:00 EST. Please see our terms for use of feeds.

Continue reading Deere & Co.'s (DE) third-quarter-earnings preview

Deere & Co.'s (DE) third-quarter-earnings preview originally appeared on BloggingStocks on Tue, 14 Aug 2007 14:20:00 EST. Please see our terms for use of feeds.

Regular BloggingStocks readers know by now that my investment strategies are fairly conservative and relatively coarse. Please don't begrudge me that. Although I don't track my picks in a portfolio, I do mentally track the general performance of the companies I tout, and I believe that overall I've done fairly well.

There are two major differences between my stock-picking efforts and what I perceive to be Warren Buffett's style. First, Mr. Buffett has years of experience that I myself do not have. Second, Mr. Buffett likes to have a greater working understanding of the nature of the businesses he chooses to investment in than I do. I choose my companies of favor with what I call my "big picture" strategy. All that means is that I use a broader view than most of my contemporaries who like to dig right down to the very roots of their picks.

I like to think that my strategy provides solid conservative support, which shall then free an investor to do some aggressive speculating with their profits.

Continue reading Intuitive investing, gut instincts, or how I'm not like Warren Buffett

Intuitive investing, gut instincts, or how I'm not like Warren Buffett originally appeared on BloggingStocks on Sun, 08 Jul 2007 09:10:00 EST. Please see our terms for use of feeds.

A June 21 BloggingStocks blog post reported that media money mogul Jim Cramer pointed at John Deere & Co. (NYSE: DE) and said "Deere good." My question is, where exactly was Jim Cramer on that company two weeks ago? Someone needs to point out to Cramer my old saying, "The first horse to the bucket gets the grain." While Mr. Cramer's lemmings are scurrying towards a peak already established, my herd is resting in the pasture belching oh so contentedly over Deere's recent new high. So now Cramer says Deere is a hot buy? What's wrong with this picture?

They say: The proof is in the pudding, so here's some pudding for you. On June 9, I made clear that Deere & Co. was buying a well-established and recognized Chinese tractor manufacturer. I'm guessing that's more than Cramer has told you. Deere is expanding its worldwide foot print. I told you so.

They also say: Nothing good ever comes easy, and I believe that to be true. So you may have cause to sit up and take notice when I tell you that Deere & Co announced a new product line because in my opinion almost anything new from John Deere & Co. is good. I told you that too!

On May 29, Cramer called Deere a pick and on June 13 Cramer called Deere a gainer, but I'm supposing that's all the in-depth information Cramer had for you. The plain truth of the matter is, if it's in-depth, up-to-the-minute information you seek, BloggingStocks has it for you and you won't have to watch us scream or yell or wear a diaper like some media stock pickers we know would ask you to suffer through.

Here's all the John Deere & Company insight BloggingStocks has brought to you!

Jim Cramer trampled by running Deere: Film at 11:00 originally appeared on BloggingStocks on Sat, 23 Jun 2007 13:40:00 EST. Please see our terms for use of feeds.

Cramer on Deere, plus a trade idea originally appeared on BloggingStocks on Thu, 21 Jun 2007 11:25:00 EST. Please see our terms for use of feeds.

Boasting higher efficiency, versatility and power along with specially engineered operator comfort and control, John Deere & Company (NYSE: DE) announced on June 1, 2007 the debut of a completely new line of self propelled sprayers. The equipment line identified as "Series 30 Sprayers" boasts state of the art "integrated performance-enhancing technology which includes precision guidance, mapping and variable rate software." Additionally, as is the Deere standard, the "operator interface" aspects of the equipment has been given focused attention, meaning that ease of use, safety and comfort take these Deere machines well beyond the qualities of simply being useful.

The 30 Series Sprayers are sold and supported by John Deere Commercial Application Dealers and Application Support Dealers at 254 locations throughout the U.S. and Canada. Deere continues to show long term dedication to its clients and seeks to maintain its well deserved image of stellar customer service.

For further information regarding John Deere & Co. self propelled sprayers you may visit the company's website where you can also get up-to-date investor information on the company.

Gary E. Sattler holds no financial interest in and is not compensated by John Deere & Co.

John Deere & Co. busts out a new product line originally appeared on BloggingStocks on Mon, 04 Jun 2007 13:30:00 EST. Please see our terms for use of feeds.

This morning Deere & Co. (NYSE: DE) reported its second fiscal quarter earnings and the company easily beat analyst estimates. Led by strong international sales, the company earned $2.72 per share which were well above the $2.41 per share estimates that analysts had expected.

Sales for the quarter were a strong $6.68 billion which also past analyst estimates which had been for $6.46 billion.

This strong quarter should really come as no surprise. With the spike in commodities over recent months it is only logical that farmer equipment stocks are going to remain strong.

But what is surprising is where the company showed its strength. Equipment sales in the US and Canada were actually down slightly (3% for the quarter and 4% year to date), but international sales skyrocketed. Sales outside the US and Canada rose by 22% which helped give the company an overall increase of around 5% in total sales.

Traders are buying up the stock in the premarket, pushing shares up 1.5% to $122.50 up $1.84. It will be interesting to see how well the news of the US and Canadian sales figures is digested by Wall Street. I wouldn't be surprised to hear the company discuss the impact of poor weather through the first half of April had on these sales. Yesterday, while liveblogging Home Depot's first quarter conference call we heard a lot of discussion about April weather impacting sales, and this could be a theme that we continue to hear today.

Deere & Co. will be hosting its conference call this morning starting at 10:00 AM EDT, and BloggingStocks will be covering the call in its entirety. So be sure to check back around 10 for complete coverage and up to the minute discussion on the company's call.

Michael Fowlkes has worked as a stock trader for seven years and spent the last two years working as an analyst for the online investment advisory service Investor'sObserver.

John Deere easily beats earning estimates originally appeared on BloggingStocks on Wed, 16 May 2007 08:13:00 EST. Please see our terms for use of feeds.

With his latest research reports titled "Corn Conundrum" and "Grain Mayhem" a reader might be concerned that the latest ideas from Kevin Kerr are complex agricultural vehicles.

On the contrary, the editor of Marketwarch Global Resources Trader -- who is currently visiting farms and ethanol plants to get a first hand look at the situation -- believes that the investment vehicle of choice within the agricultural market is a farm equipment maker.

Corn and soybeans have rarely been a hot topic among average investors. But with ethanol now on the "front burner," farming has gotten a new-found interest among speculators. Indeed, Kerr is bemused that the financial news recently featured a "countdown clock" when the rather obscure USDA's planting intentions report was released.

He quips, "The latest planting intentions report garnered much fanfare. But a countdown clock? The report was hardly in need of one." And while this report might be of interest to grain traders, Kerr notes that most investors are best focused elsewhere.

He says, "Whatever side of the fence you fall on in the great corn-ethanol debate, one thing remains clear. Farmers have been having some banner years lately and it's almost like a new gold rush. And whether corn surges and soybeans fall or if soybeans rally and corn backs off, farmers still need new equipment."

Continue reading Corn conundrum? Stick with Caterpillar

Corn conundrum? Stick with Caterpillar originally appeared on BloggingStocks on Wed, 11 Apr 2007 11:12:00 EST. Please see our terms for use of feeds.

John Deere / Deere & Company (NYSE: DE) is shaping a nice outlook for 2007. First consider their recently announced quarterly dividend increase from .39 cents to .44 cents a share. Then factor in an equipment contract to build 300 TRAM units like the one pictured above for an estimated total of $47 million (as much as $243 million if the Department of Defense wants all the bells and whistles). Deere and Co. is right on track for a banner year in 2007.

For the year 2007, Deere projects that equipment production and sales shall remain firm and steady with an overall increase of as much as 4%. They continue to advance and upgrade their manufacturing stream in an effort to become more efficient and accomplish quicker reaction times to fluctuating production demands. Given the fact that the above mentioned TRAM contract is for equipment manufactured by their construction and forestry division which was previously projected to be down in production by 5% in 2007, Deere's actual increase in production could become somewhat greater than 4%.

John Deere Capital Corporation, Deere's credit subsidiary, is expected to be their substantial performer in the coming year. For fiscal year 2006 DOCC reports net income of approximately $290 million. Deere projects net income in the range of $340 million for 2007 from their credit operations and cites portfolio growth as the main reason that should happen. They do make clear that it is their intent to continually reinvest that profit into creating continued new growth.

Some analysts are saying that Deere is being conservative in its projections for next year.

Continue reading John Deere is looking good for 2007

John Deere is looking good for 2007 originally appeared on BloggingStocks on Mon, 18 Dec 2006 13:14:00 EST. Please see our terms for use of feeds.

It would be easy for General Electric shareholders to miss the good news in today's Wall Street Journal. But tucked near the end of a story with the ominous headline, "Dollar's Slide Could Roil Stocks," (subscription required) was a mention of how the falling dollar could be a positive for GE.

Currency moves are always a mixed bag for businesses -- one reason they are so hard for investors to interpret. On the one hand, the dollar's slide makes foreign products more expensive. That's bad news for companies that rely on imports -- like retailers. For the economy, a falling dollar can lead to two major problems --  higher interest rates and rising inflation (as import prices rise).

But a falling dollar makes U.S. exports cheaper, which can increase the competitiveness of U.S. goods both at home and overseas. As a major exporter, General Electric, along with Caterpillar and  John Deere, is an "obvious beneficiary" of the dollar's recent slump, the Journal notes.

GE could see some upside thanks to the falling dollar originally appeared on BloggingStocks on Mon, 01 May 2006 16:52:00 EST. Please see our terms for use of feeds.