The company reported a 3% decline in sales to $6.5 billion and a 18% drop in quarterly profits to $285 million, or 90-cents a share. Deere shares surged nearly 9% in early trading to new multi-year highs above $100 a share. For Deere investors, getting ahead of the Trump rally means looking beyond many of the company’s cautionary statements, and forecasting an improved business climate. “Global farm recession, weak construction-equipment markets lead to lower sales and earnings for fourth quarter and full year,” Deere said of its results,” Deere said at the outset of its earnings release. Part of this execution involves the cost cutting and layoffs that have been felt hard across blue collar America.

Source: Forbes November 23, 2016 14:37 UTC