Deere's Q3 Earnings: When Bad News Is Good News
DEJohn Deere(DE) Seeking Alpha·2024-08-16 00:35
Nicholas SmithSometimes, it is enough to release a "not too bad" report to have investors cheer. This is the case with Deere's Q3 earnings. Deere (NYSE:DE) was trading near its 52-week lows as the market was pricing in the bad news coming from its peers, mainly AGCO (AGCO) and CNH Industrial (CNH). After all, as I showed in detail in one of my past analyses on Deere, the business is cyclical, and it is strictly related to farmer net income and corn prices. Since corn is quickly going down, so is farmer  ...