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Two Ways To Play: Deere Plows Through Fourth-Quarter Expectations


Strengthen your portfolio in good times and bad.

Deere Beats Fourth-Quarter Expectations

Deere (DE) reported results for its fiscal fourth quarter. The world's biggest maker of farming equipment said earnings came in at $0.23 a share, $0.20 better than Wall Street estimates.

Revenues fell nearly 30% year-over-year to $4.73 billion versus expectations of $4.44 billion. For the fiscal year 2010, Deere sees further declines in sales of about -1% and approximately -10% year-over-year for the first quarter.

Wall Street was expecting declines to be about -2% in 2010 and about -12% year-over-year for the first quarter. In the premarket, shares are currently down 1.5%.

From the Bull Pen: The agricultural and fertilizer space has been hot these past few weeks. With earnings out of the way and Deere trading lower, investors see this as an entry opportunity. One strategy is to fade (read: buy) into weakness into its 20-DMA (currently 48.46); a sell stop can be set below that level.

From the Bear Cave: The day before and after Thanksgiving are traditionally very good days for the bulls. So bears, beware. But with the dollar index making a new low, one can press the downside with the bearish dollar fund (UDN); a sell stop can be set below $28.40.

A Quick Check around the World

Asian trading closed with the Nikkei 0.43%, India 0.40%, Hang Seng 0.84%, Shanghai 2.07%, and Taiwan 0.54%.

Across the pond, we see the FTSE 0.59%, CAC 0.61%, DAX 0.45%

As of 8:15 AM EST, S&P Futures are trading +5.00 to 1108.00. Nasdaq futures are +8.500 to 1795.00.

A Look at Commodities

Over in commodities, crude oil is +0.31 to 76.33 while gold is +14.70 to 1180.50 this morning. Silver is +19.0 to 1864.5 and copper +3.050 to 314.40.

The dollar Index is -0.5750 to 74.5500.

On the Radar


08:30 Personal Income 0.2% cons.
08:30 Personal Spending 0.5% cons.
08:30 PCE Prices
08:30 PCE Prices- Core 0.1% cons.
08:30 Initial Claims
08:30 Continuing Claims
08:30 Durable Orders 0.5% cons.
08:30 Durable Orders ex. Transportation 1.0% cons.
09:55 Michigan Sentiment 66.5 cons.
10:00 New Home Sales 414k cons.
10:30 Crude Inventories

Click here for the full trading radar.

Minyans, good luck and have a great Thanksgiving! Gobble! Gobble!
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No positions in stocks mentioned.

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