Deere & Co. (DE) reported second quarter net income of $2.61 per share Wednesday morning, compared to $2.12 per share last year. The consensus estimate was for EPS of $2.53. The company now expects to report full year net income to be around $3.35 billion, up from the prior forecast of about $3.275 billion.
Deere & Co. traded to the downside until around 1:00PM Wednesday and finished lower by 2.44 at $74.18 on above average volume. The stock has been losing ground for the past 2 weeks and closed at nearly a 5-month low.
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