UPDATE 3-Deere blames escalating trade war for worsening outlook
Trade war causing farmers to delay large machine purchases, says co * Co reducing production at two large facilities in second half * Stock falls as much as 6% (Adds details from the conference call, updates shares) May 17 (Reuters) - Deere & Co on Friday missed quarterly profit estimates for the fifth-straight quarter and cut its full-year outlook, as an escalating U.S.-China trade war threatens to further hit farm incomes and demand for the company's equipment. Shares of Deere, known for its trademark green tractors and harvesting ...
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