Deere (DE +3.7%) trades higher after its FQ4 results easily beat estimates earlier today. Net...

|About: Deere & Company (DE)|By:, SA News Editor

Deere (DE +3.7%) trades higher after its FQ4 results easily beat estimates earlier today. Net income jumped 46% Y/Y on an 18% rise in revenue. The company says prices for farm crops will remain strong into next year, driving higher farm machinery sales and prompting the company to raise its FY12 forecast. It now expects total cash receipts from U.S. farming - a key driver for machinery sales - to be $374B in 2012, up from its August view of $362B.