Piper Jaffray Cuts Price Target on Deere & Co. (DE) to $80 Following 3Q15 EPS Beat

Top 10 News for 8/17 - 8/21: Stocks Hit on China Growth Fears; Fed Hints at Rate Hike Nearing

August 21, 2015 3:55 PM EDT

1. Markets continued to slump this week following China's devaluation of the yuan last week, as signs of a slowdown in the world's second-largest economy take hold. On Friday morning, Markit's Flash China General Manufacturing PMI came in at 47.1, which is a six-and-a-half year low for the metric. With the report, Dr. He Fan, Chief Economist at Caixin Insight Group said: The Caixin Flash China General Manufacturing PMI for August has fallen further from Julys two-year low, indicating that the economy is still in the process of bottoming out. But overall, the likelihood of a systemic risk... More

Pre-Open Stock Movers 08/21: (STNR) (ARAY) (BRCD) Higher; (NWBO) (TFM) (DE) Lower (more...)

August 21, 2015 9:29 AM EDT

GigOptix (NYSE: GIG) 20.9% LOWER; announced the pricing of its underwritten public offering of an aggregate of 9,218,000 newly issued shares of common stock at a price of $1.70 per share.

VirnetX Holding (NYSE: VHC) 19.6% LOWER; announced that it has filed a universal shelf registration statement on Form S-3 with the U.S. Securities and Exchange Commission ("SEC"). The universal shelf registration... More

Deere shares fall 8 percent following weak third-quarter results

August 21, 2015 7:14 AM EDT

By Meredith Davis

(Reuters) - Deere & Co (NYSE: DE) reported that third-quarter profit tumbled 40 percent on weak demand for agricultural equipment and a stronger dollar, and gave a bleaker forecast for fourth-quarter equipment sales, sending shares sliding more than 8 percent.

Lower commodity prices and falling farm incomes continued to pressure demand for agricultural machinery, with the declines most pronounced in higher-horsepower models, the company said on Friday. It also cited lower demand for construction equipment.

... More

Deere & Co. (DE) Tops Q3 EPS by 9c; Trims Outlook

August 21, 2015 7:00 AM EDT

(Updated - August 21, 2015 7:04 AM EDT)

Deere & Co. (NYSE: DE) reported Q3 EPS of $1.53, $0.09 better than the analyst estimate of $1.44. Revenue for the quarter came in at $6.84 billion versus the consensus estimate of $7.17 billion.

Company Outlook & Summary

Company equipment sales are projected to decrease about 21 percent for fiscal 2015 and to be down about 24 percent for the fourth quarter compared with year-ago periods. (Deere previously saw a 19 percent drop in 2015.) Included in the forecast is a negative foreign-currency translation effect of about 4 percent for the full year and 5 percent for the fourth quarter. For... More

Trading Radar for 8/21: Deere (DE), Foot Locker (FL), Hibbett (HIBB), Gordman's (GMAN) Report

August 20, 2015 2:51 PM EDT

The Trading Radar highlights key earnings and economic announcements for the next trading session:

Before Markets Open:
Earnings:

Agria Corporation (NYSE: GRO) - no Street consensus
Deere & Co. (NYSE: DE) - consensus EPS $1.44... More

Deere resumes production at Tianjin, China facilities

August 20, 2015 12:31 PM EDT

(Reuters) - Deere & Co (NYSE: DE) said on Thursday that production has resumed at its facilities near Tianjin after a massive chemical explosion ripped through the Chinese port town last week.

Deere said it was still repairing windows, doors and building... More