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Deere & Company ($DE) Stock Forecast: Down 5.3% Today

Morpher AI identified a bearish signal. The stock price may continue to fall based on the momentum of the negative news.

What is Deere & Company?

DE, a stock in the agricultural equipment industry, experienced a bearish market movement.

Why is Deere & Company going down?

DE stock is down 5.3% on Feb 16, 2024 10:41

  • Deere shares declined after the company adjusted its full-year guidance, citing customer fleet replenishment delays.
  • Ford CEO, Jim Farley, advised investors to shift their focus to Ford's "Pro" unit, which he believes is the future of the auto industry. This shift in attention could have impacted DE's bearish movement.
  • The S&P 500 saw gains despite a report indicating a decline in retail sales. This suggests that DE's bearish movement may be specific to the company rather than a broader market trend.
  • The bearish sentiment towards DE could be linked to concerns about customer demand and competition within the industry.

DE Price Chart

DE News

Ford CEO Tells Wall Street To Forget Tesla And Focus On Business

(CTN News) – According to Ford Motor CEO Jim Farley, Wall Street should focus on the Detroit automaker’s “Pro” fleet business rather than Tesla and its FSD driver-assistance systems as the future of the industry. Almost seven years ago, Deere & Co. earned $7.2 billion in pretax earnings. The unit earned roughly double last year. […]

https://www.chiangraitimes.com/auto/ford-ceo-tells-wall-street-to-forget/

News Article Image Ford CEO Tells Wall Street To Forget Tesla And Focus On Business

Deere Stock Slides After an Earnings BeatHere’s Why [Video]

Deere shares lost ground Thursday after the agricultural equipment maker lowered its full-year guidance in anticipation of customers holding off on replenishing their fleets.

https://brandmarketingready.com/deere-stock-slides-after-an-earnings-beatheres-why-video/

News Article Image Deere Stock Slides After an Earnings BeatHere’s Why [Video]

Jim Farley Says 'Stop Looking At FSD And Tesla,' Focus On Ford's Pro Instead: 'If You're Looking For The Future' - Deere ( NYSE:DE ) , Ford Motor ( NYSE:F )

Ford Motor Co F CEO Jim Farley has urged investors to shift their focus from Tesla Inc TSLA to Ford's "Pro" unit, which he believes is the future of the auto industry. What Happened: Farley made the remarks at a Wolfe Research conference on Thursday.

https://www.benzinga.com/news/24/02/37173253/jim-farley-says-stop-looking-at-fsd-and-tesla-focus-on-fords-pro-instead-if-youre-looking-for-the-fu

News Article Image Jim Farley Says 'Stop Looking At FSD And Tesla,' Focus On Ford's Pro Instead: 'If You're Looking For The Future' - Deere  ( NYSE:DE ) , Ford Motor  ( NYSE:F )

Earnings call: Deere & Company projects profitability despite sales dip

https://www.investing.com/news/stock-market-news/earnings-call-deere--company-projects-profitability-despite-sales-dip-93CH-3305628

https://www.investing.com/news/stock-market-news/earnings-call-deere--company-projects-profitability-despite-sales-dip-93CH-3305628

News Article Image Earnings call: Deere & Company projects profitability despite sales dip

S&P 500 Gains and Losses Today: Deere Shares Slide After Reduced Profit Outlook

The S&P 500 gained 0.6% on Thursday, Feb. 15, 2024, despite a report showing a sharper-than-anticipated decline in retail sales in January.

https://www.investopedia.com/s-and-p-500-gains-and-losses-today-deere-shares-slide-after-reduced-profit-outlook-8583798

News Article Image S&P 500 Gains and Losses Today: Deere Shares Slide After Reduced Profit Outlook

Deere & Company Price History

16.01.2024 - DE Stock was down 5.3%

  • Deere shares declined after the company adjusted its full-year guidance, citing customer fleet replenishment delays.
  • Ford CEO, Jim Farley, advised investors to shift their focus to Ford's "Pro" unit, which he believes is the future of the auto industry. This shift in attention could have impacted DE's bearish movement.
  • The S&P 500 saw gains despite a report indicating a decline in retail sales. This suggests that DE's bearish movement may be specific to the company rather than a broader market trend.
  • The bearish sentiment towards DE could be linked to concerns about customer demand and competition within the industry.

16.01.2024 - DE Stock was down 5.3%

  • Deere's shares declined as the company revised its full-year guidance, attributing it to customers delaying fleet replenishment. This expectation of reduced demand could be a contributing factor to the bearish movement.
  • Ford's CEO suggested that investors should redirect their attention from Tesla to Ford's "Pro" unit, potentially diverting focus away from Deere and impacting its stock performance.
  • Despite experiencing a decline in sales, Deere demonstrated optimism regarding profitability during their earnings call, highlighting its strong fundamentals. However, this positive outlook may not have been sufficient to counter the prevailing bearish sentiment.
  • The disclosure of a significant drop in retail sales in January m

16.01.2024 - DE Stock was down 5.3%

  • The bearish movement in DE's stock can be attributed to the following factors:
  • 1. Reduced profit outlook: Deere shares slid after the company lowered its full-year guidance due to customers holding off on replenishing their fleets. This cautious approach by customers could have raised concerns about future sales and profitability, leading to a decline in the stock price.
  • 2. Weaker retail sales: Despite the S&P 500 gaining, retail sales in January showed a sharper-than-anticipated decline. This negative economic data could have impacted investor sentiment and contributed to the bearish movement in DE's stock.
  • 3. Construction sector performance: While the construction sector has been booming, with a 20% expansion in 2023, there were no specific positive news or developments mentioned regarding Deere's performance in this sector. This lack of positive catalysts may have also influenced the bearish movement in DE's stock.
  • 4. Mixed equities market: The overall market was mixed, with U.S. equities experiencing a bearish sentiment after disappointing retail sales data. This broader market sentiment could have had a spillover effect on DE's stock, contributing to its decline.
  • Overall, the bearish movement in DE's stock today can be attributed to the company's reduced profit outlook, weaker retail sales, and the broader market sentiment.

15.01.2024 - DE Stock was down 5.3%

  • Deere shares slid after the company adjusted its full-year outlook, potentially suggesting a slowdown in the demand for agricultural equipment.
  • The performance of the non-residential construction sector, closely tied to Deere's business, expanded by approximately 20% in 2023. However, this positive trend may not have directly impacted Deere's performance, as the company's outlook for construction was downgraded.
  • The decrease in retail sales in January, exceeding expectations, could have contributed to the bearish movement in Deere's stock, indicating a potentially weaker overall economic environment.
  • Disappointment over Deere's lowered net income guidance for FY24 may have led to a negative market response from investors.

15.01.2024 - DE Stock was down 5.5%

  • DE experienced a significant downward trend today.
  • For the first quarter of fiscal 2024, the company's net sales and revenue saw a decline.
  • DE's guidance for FY24 was revised downward, reflecting a less optimistic outlook for its net income.
  • It is likely that the pessimistic outlook for FY24 and the decrease in sales and revenue are the main factors contributing to the downward movement of DE's stock today.

15.01.2024 - DE Stock was down 5.1%

  • DE experienced a decrease in net sales and revenue during the first quarter of fiscal 2024, which may have influenced the bearish movement.
  • Notably, the decline in net sales was observed in the Production & Precision Agriculture and Small Agriculture & Turf segments.
  • Negatively impacting DE's stock price was the less optimistic outlook for FY24.
  • The market's volatility and bearish sentiment may have been further exacerbated by the anticipation of DE's upcoming earnings report.

14.11.2023 - DE Stock was up 5.5%

  • The bullish movement in DE's stock today can be attributed to the following factors:
  • 1. Bullish options trends: Deep-pocketed investors have adopted a bullish approach towards DE, as indicated by significant moves in public options records. This positive sentiment could have contributed to the stock's upward movement.
  • 2. Institutional investors' activity: Sustainable Insight Capital Management LLC raised its position in DE during the second quarter, while California State Teachers Retirement System trimmed its position. These contrasting moves by institutional investors might have influenced the market movement.
  • 3. Overall market sentiment: The bullish movement in DE's stock could also be influenced by positive market sentiment towards the industrial products sector. As the market shows optimism in this sector, DE, being a prominent player, might have benefited from the positive sentiment.
  • 4. Other factors: While not directly mentioned in the provided articles, it's worth considering that any positive news or developments related to DE's products, financial performance, or industry trends could have contributed to the bullish movement.

22.10.2023 - DE Stock was down 5.4%

  • The bearish movement in DE's stock today could be attributed to the following factors:
  • 1. Market Sentiment: The slight decline in overall market sentiment, as indicated by the CNN Money Fear and Greed index, may have contributed to the bearish movement in DE's stock. This suggests a cautious or negative sentiment among investors.
  • 2. Earnings Expectations: With Deere & Company scheduled to release its financial results for the fourth quarter, there might be anticipation or speculation regarding the earnings report. If the market has lower expectations for the company's performance, it could lead to a bearish movement in the stock.
  • 3. Mixed Trading Futures: The mixed trading futures in the U.S. stock market on Wednesday could have also influenced the bearish movement in DE's stock. Uncertainty or lack of clear direction in the broader market can impact individual stocks.
  • 4. Sector Focus: The news articles primarily focus on Deere & Company, indicating that the market movement may be driven by factors specific to the company rather than broader industry trends.
  • Overall, the bearish movement in DE's stock today could be a result of cautious market sentiment, anticipation of earnings release, mixed trading futures, and company-specific factors.

27.09.2023 - DE Stock was down 2.6%

  • The bearish movement in DE stock today could be attributed to the following factors:
  • 1. Lower production and higher inventories: The downtrend in stock price mentioned in an article from Seeking Alpha suggests that Deere's lower production and higher inventories may have negatively impacted investor sentiment.
  • 2. Market skepticism regarding Wall Street analysts' recommendations: an article from Zacks Commentary highlights the doubt cast on the effectiveness of the average brokerage recommendation (ABR) for DE stock. This skepticism might have contributed to the bearish movement.
  • 3. Market dynamics and overall sentiment: While not explicitly mentioned in the provided articles, general market dynamics and sentiment can also influence the movement of DE stock. Factors such as economic indicators, industry trends, and investor sentiment towards the broader market could have played a role in the bearish movement.
  • 4. No specific news directly impacting DE stock: The provided articles do not mention any specific news that directly impacted DE stock. However, it is important to consider that market movements can be influenced by a wide range of factors beyond the scope of the provided articles.

18.07.2023 - DE Stock was down 5.3%

  • Deere & Co reported Q3 earnings that exceeded expectations, with net sales and revenue growth of 12% YoY.
  • Despite the positive earnings report, the stock experienced a bearish movement, potentially due to profit-taking after a period of strong performance.
  • The market may have reacted negatively to the slight miss in revenue estimates, despite the overall positive performance of the company.
  • The bearish movement could also be influenced by broader market trends or investor sentiment towards the sector.
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Disclaimer
Morpher is not liable for the content of the AI investment insights. Like most GPT-powered tools, these summaries may contain AI hallucinations and inaccurate information. Morpher is not presenting you with any investment advice. All investments involve risk, and the past performance of a security, industry, sector, market, or financial product does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. These summaries do not constitute investment advice.