Dismal Forecast Overshadows Deere's Quarterly Win

Heavy equipment manufacturer Deere & Co (NYSE:DE) surpassed top- and bottom-line expectations for the fiscal first quarter, but also cut its 2024 profit forecast due to demand concerns amid higher borrowing rates and lower crop prices. Ahead of the open, DE is down 3.6% at $371.Should these losses hold, the security will break below a floor at the $375 level, which has been in place since a December bull gap. Meanwhile, the $405 region rejected the equity's early January pullback. Over the past six months, ...