22.08.2016 - Sales of Deere & Co. continue to decrease
Company Deere & Co. stated about decline in revenue and profit on a background of weak demand for agricultural machinery. At the same time, the company has improved the forecast of revenue for the year. Overall, for the quarter the company has received 488.8 million against profit of 511.6 million dollars a year earlier. The company's sales fell by 11% to 4.7 billion dollars. According to our forecasts, the demand will remain weak, but cost reductions will continue to have a positive impact on the stocks. We expect the decline in stocks in the coming months by 7-10%.