Deere Easily Beats Targets

Farm-equipment seller Deere saw its shares rise after the company exceeded analysts' profit and sales estimates for the fourth quarter.

The company earned $422.1 million, or $1.88 a share, for the quarter ended Oct. 31, compared with $277.3 million, or $1.20 a share, for the same period last year.

Worldwide net sales for the fourth quarter increased 20% year over year to $6.14 billion. Wall Street was looking for a profit of $1.55 a share and a top line of about $5.8 billion.

Shares of Deere were advancing 1.7% to $147.50 in premarket trading Wednesday.

Read Full Article from TheStreet.com

- Posted: 2007-11-21 10:37:49

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