Deere beats on earnings and boosts its forecast for the year (DE)

Deere boosted its forecast for sales this year amid more demand for its farming equipment. The company said Friday that “improving market conditions throughout the world” contributed to a 31.1% year-over-year increase in profits. The global agriculture industry is working its way out of a recession that was triggered by crop surpluses and weaker commodity prices. “We are seeing higher overall demand for our products with farm machinery sales in South America experiencing strong gains and construction equipment sales rising sharply,” said Samuel Allen, John Deere’s CEO. Deere said it saw full-year net sales at $2.08 billion, up from $2 billion and higher than analysts’ estimate for $2.03 billion. It… Read More

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If You Bought Google at Its IPO Price, Here’s How Much Richer You’d Be

Earlier this year, Warren Buffett and Charlie Munger told Berkshire Hathaway investors that passing on Google stock shortly after its initial public offering on August 19, 2004 was a mistake. According to Buffett, Google’s founders approached Berkshire with a investment prospectus, but, he admitted, “I blew it.” In retrospect, Google would have been a winning investment. When it first hit the stock market in 2004, the search engine was worth less than toothpaste-maker Colgate-Palmolive, at about $27 billion at the close of trading that day. Today, it’s the second largest company of the S&P 500 Index with a market value of about $648 billion. And its early investors rose right… Read More

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Snap is getting crushed, but bulls aren’t throwing in the towel

Snap has had a rough go of it since going public in March, with its market value being cut in half from post-IPO highs. Despite recent weakness, the jury is still out on whether the company will stumble and fail (like Twitter), or if it will pick itself up (like Facebook). What we do know is that Snap will trade around 15 to 20 times earnings, and it’s good news for bulls that the company is cheaper now, because it means the profit threshold for maintaining that valuation will be lower going forward. Key drivers for Snap include user growth and revenue expansion. If either of those stall, the downside… Read More

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10 things you need to know before the opening bell (SPY, SPX, QQQ, DIA, GPS, CPN)

Here is what you need to know. Stocks see their 2nd biggest drop of the year. The S&P 500 fell 1.54% on Thursday as false rumors swirled that Gary Cohn, President Donald Trump’s top economic advisor, was stepping down and after a van plowed into a crowd in Barcelona, Spain in what authorities said was a terrorist attack. The stock market’s safety net is working better than ever. Corporations who have been doing the most share buybacks have been beating the S&P 500 over the last two months after underperforming for years, according to data compiled by Bank of America Merrill Lynch. China’s home price growth slows. The value of… Read More

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