Why Deere Stock Jumped Today
Shares of Deere & Company (NYSE: DE) climbed on Wednesday after the farming and construction equipment maker announced strong growth in sales and profits. As of 3:30 p.m. ET, Deere's stock price was up more than 5%.
Deere's revenue surged 37% year over year to $15.5 billion in its fiscal 2022 fourth quarter, which ended on Oct. 30.
The heavy equipment manufacturer enjoyed broad-based gains across its major business lines. Net sales in its production and precision agriculture, small agriculture and turf, and construction and forestry divisions rose 59%, 26%, and 20%, respectively.
Source Fool.com
