Deere cuts profit forecast as farmers buy less machinery

Net income will be about $1.8 billion in the fiscal year through October, Moline, Illinois-based Deere said Friday in a statement. Deere shares fell as much as 2.1 percent before the start of regular trading. “The really big issue in agriculture is what’s happening in North America,” Mircea Dobre, a Milwaukee-based analyst for Robert W. Baird & Co., said in an interview on Thursday.



via Business News http://ift.tt/1zsA9zU