Deere & Co stock rises 2.75% on strong trading day
Updated
Updated · MarketWatch · May 6
Deere & Co stock rises 2.75% on strong trading day
11 articles · Updated · MarketWatch · May 6
The shares closed at $591.64 on Wednesday as the S&P 500 gained 1.46% to 7,365.12 and the Dow rose 1.24% to 49,910.59.
Deere remained 12.24% below its 52-week high of $674.19 reached on 19 February, while rivals Caterpillar, CNH Industrial and Toro also advanced.
Trading volume was 980,918 shares, about 278,157 below Deere's 50-day average of 1.3 million, indicating lighter-than-usual activity despite the broad market rally.
With nine quarters of falling income, is Deere's stock rally built on future hype or a genuine market recovery?
As the FTC sues over repair rights, could a core pillar of Deere’s profitability be about to crumble?