What's your position on ?
Why are you ish?
You voted ish on Vote again
Posts appear on the My Feed page of subscribers to this ticker
Dec. 2, 2015, 12:07 PM
Nov. 30, 2015, 9:10 AM| Nov. 30, 2015, 9:10 AM | 4 Comments
Nov. 27, 2015, 11:59 AM
- Deere (DE -1.2%) is maintained with an Outperform rating and $87 price target at Credit Suisse, after better ag margins enabled the company to report Q4 results ahead of expectations.
- DE expects to underproduce retail demand again in HHP but not to the same degree as FY 2015, with production more in line with retail demand moving into H2 2016, Credit Suisse says.
- The firm notes the company’s CFO is expected to be strong at $2.6B, with excess cash likely to be used for niche M&A and share repurchases.
- Credit Suisse cuts its FY 2016 EPS estimate to $4.35 from $4.45 but maintains its $5.55 estimate for 2017.
Nov. 25, 2015, 7:28 AM
- Net income of $351.2M, or $1.08 per share vs. $649.2M, or $1.83 per share, for the same period of 2014.
- Net sales decreased 25% Y/Y to $6.7B from $9B in the same quarter a year ago. Segment Sales: Agriculture & Turf. -25%; Construction & Forestry -32%.
- Guidance: Company equipment sales are projected to decrease about 7% for fiscal 2016 and to be down about 11% for the first quarter compared with year-ago periods. Fiscal 2016 earnings are expected to be approximately $1.4B.
- "Sales and earnings for the year were the sixth-highest in company history," said CEO Samuel Allen. "Although our forecast calls for lower results in the year ahead, the outlook represents a level of performance that is better than Deere has experienced in previous downturns."
- FQ4 results
- DE +5.1% premarket
Nov. 25, 2015, 6:55 AM
Nov. 24, 2015, 5:30 PM
Nov. 16, 2015, 9:17 AM
- Deutsche Bank: Deere's fourth quarter report is likely to be a negative catalyst.
- JPMorgan: Lowered its price target on the stock to $64 from $82.
- Societe Generale: Initiated coverage on shares with a Hold rating.
- DE -0.5% premarket.
Nov. 10, 2015, 12:53 PM
- The corn production forecast from the USDA is lifted 99M bushels, with the average yield up 1.3 bushels per acre to 169.3 bushels. Projected use is cut 50M bushels. It adds up to stocks of 1.76B bushels vs. trade forecasts for 1.597B.
- Soybean stocks rise to 465M bushels vs. 436M expected.
- Wheat stocks rise to 911M bushels vs. 877M expected.
- Corn, beans, and wheat are all lower by 1.5-2% following the report.
- ETFs: CORN, JJG, WEAT, SOYB, GRU, WEET
- Also dinged by lower prices on the farm is Deere (DE -0.9%).
Nov. 3, 2015, 1:11 PM
- Deere (DE -0.4%) agrees to acquire Monsanto’s (MON +2.3%) Precision Planting equipment unit for an undisclosed sum, as it employs its strategy to boost farmer efficiency and productivity with technology.
- The deal allows nearly real-time data connections between certain John Deere farm equipment and Climate FieldView farming software programs.
- Reuters reports the news was met with skepticism by some farmers who have used Precision Planting's computer hardware and software tools to help them plant seeds in ways that will be most productive for boosting yields.
- This is DE's third precision agriculture deal in the past five weeks; yesterday, DE agreed to buy Monosem, the European leader in precision planter manufacturing, and nearly a month ago it announced a joint venture to further develop a cloud software platform developed by DN2K for agricultural retailers and other consultants.
Nov. 2, 2015, 11:01 AM
- Deere (DE +2%) has signed a definitive agreement to acquire Monosem, a European leader in precision planters. The purchase includes the company's four facilities in France and two in the U.S.
- The acquisition will help accelerate Deere's market reach in precision planting equipment and adds engineering expertise to further develop planting technology.
Oct. 26, 2015, 10:34 AM
- Deere (DE -2.2%) heads south after Barclays lowered its price target on the stock to $63 from $68.
- Due to the rise in used tractor sales, Deere's finance subsidiary income and price support will be affected. "Our data show only a few tens of millions of dollars monthly on used leases, which is a small drop in finance books that stretch into the tens of billions," Barclays said. "That drop matters however, since Deere has leased assets approaching $5B, at record high residual values."
- The company started at similar levels of residuals last cycle, and depreciation expenses rose by $140M a share, or $0.30 per share.
Oct. 16, 2015, 10:59 AM
- Avondale Partners initiates coverage on four companies within the machinery sector, awarding Outperform ratings for Deere (NYSE:DE), Joy Global (NYSE:JOY) and Titan international (NYSE:TWI) while issuing a Market Perform rating for Crane (NYSE:CR), saying the latter is "not out of the storm yet."
- Avondale thinks sentiment toward DE has become substantially more bearish, making it an appropriate time to “adopt a glass half-full view on the name," while seeing any substantial production cuts beyond 2016 as highly unlikely and anticipating FY 2016 will mark a trough for the company’s earnings.
- The firm sees JOY as “a call option on an eventual cyclical recovery in global mining capex trends,” and recommends investors - especially long-term ones - begin building a position in the company.
Oct. 15, 2015, 9:14 AM
- Terex (NYSE:TEX) -3.6% premarket after Manitowoc (NYSE:MTW) pre-announced lower than expected Q3 revenue following yesterday's close, pointing specifically to weakness in its cranes segment.
- MTW said its cranes segment continues to be hurt by a deteriorating demand environment, particularly in the Middle East and Asia, and lower than expected tower and crawler crane shipments exacerbated the Q3 shortfall in revenues.
- Other companies in the commercial equipment sector include Accuride (NYSE:ACW), Meritor (NYSE:MTOR), Deere (NYSE:DE) and Caterpillar (NYSE:CAT).
- MTW -14.4% premarket.
Oct. 13, 2015, 10:06 AM
- BMO Capital Market cuts Deere's (DE -1.2%) stock price target to $70 from $77, while maintaining its "market perform" rating.
- The heavy machinery manufacturer is expected to see a decline in margins because of lower agricultural equipment capacity utilization levels, as well as a weak outlook for North American and Latin American tractor industries, the firm said in an analyst note.
- BMO also feels Deere's lower guidance in construction and forestry shows an overall slowdown in the industry.
Oct. 8, 2015, 2:21 PM
- Citigroup questions the sustainability of the recent rally for some machinery stocks, saying its cautious view on the global economy and downbeat near-term outlook for most commodities make it wary on the more China/commodity-levered names such as Caterpillar (CAT +1.8%) and Joy Global (JOY +10.9%).
- Citi says short-covering does not appear to have played a major role in the recent rally, at least relative to other heavily-shorted sectors; the firm senses conviction levels have been growing on the short side in recent weeks for JOY, Oshkosh (OSK +2.3%) and United Rentals (URI +3.4%), and historical seasonal patterns argue against being too bearish against Deere (DE +2.2%).
- In light of bearish investor positioning, the firm favors Buy-rated URI, OSK and Eaton (ETN +1.6%).
Oct. 8, 2015, 9:48 AM
- Deere (DE +0.5%) and DN2K are forming SageInsights - a JV to serve the agriculture industry with further development of the latter's existing cloud software MyAgCentral. The platform helps agriculture advisers collect and analyze machine-to-machine information.
- MyAgCentral will be integrated with the John Deere Operations Center utilizing the available Deere API.
Deere & Company operates in three business segments: agriculture/ turf, construction/forestry, & financial services. The Company helps customers to be more productive to improve the quality of life for people around the world.
Other News & PR