Deere & Co. (DE) reported second quarter net income of $2.76 per share Wednesday morning, up from $2.61 per share last year. The consensus estimate was for EPS of $2.72. For fiscal 2013, Deere trimmed its equipment sales growth guidance to about 5 percent from the prior forecast of 6 percent.
Deere & Co. gapped open sharply lower Wednesday, but was range-bound for the majority of the session. Shares finished down by 4.13 at $89.64, with volume at a 9-month high. The stock dropped to nearly a 2-week low.
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