Deere forecast misses Wall Street expectations
Deere & Co said environmental regulations and higher costs could make 2011 a tricky year, and offered a profit forecast that missed Street expectations, sending shares lower in premarket trading. The company said this morning it expects higher raw-material costs in 2011 and a less favorable sales mix in its flagship farm division. As a result, it said it expects a full-year 2011 profit of $2.1 billion. Analysts on average expected $2.42 billion, according to Thomson Reuters.
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