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(Moline, IL) -- Deere & Company stock closed down 4.75% Thursday after the Moline, Illinois-based company reported mixed fiscal second-quarter results.
Earnings at John Deere were down half-a-billion dollars year-over-year at $2.37 billion, or $8.53 per share.
Revenue fell 12%, but adjusted revenue just beat market projections.
Some analysts attribute part of the stock drop to USDA reports that net farm income will drop 25% this year, adversely affecting the ag equipment manufacturer.
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