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Investors shake off virus impact as shares hit new highs Deere Shares Drop Despite Q2 Earnings Beat
Deere & Co. described far better-than-anticipated quarterly outcomes on Friday but its shares fell as it slashed its gain guidance for the calendar year.
For the next quarter, the company’s devices product sales fell 20% to $eight.22 billion — compared to Wall Road estimates of $7.sixty nine billion — with farm devices (down 18% to $5.ninety seven billion) holding up far better than construction and forestry (down twenty five% to $two.26 billion) amid the coronavirus pandemic.
Internet money fell forty one% to $666 million, or $two.eleven for every share, but analysts experienced been expecting earnings of $one.sixty two for every
