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Deere Turns Positive Despite Weaker Than Expected Q4 Earnings

After initially moving to the downside, shares of Deere & Co. (DE) have shown a strong move to the upside over the course of the trading day on Wednesday. Deere is currently up by 4.1 percent.

The turnaround by Deere comes even though the heavy equipment maker reported fiscal fourth quarter earnings that came in below analyst estimates.

Deere reported fourth quarter adjusted earnings of $2.30 per share, while analysts had expected earnings of $2.45 per share.

Looking ahead, Deere said company equipment sales are projected to increase by about 7 percent for fiscal 2019 compared with 2018.

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