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‘Tariffs and trade’ hobble Deere earnings

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Deere & Co. blamed “tariffs and trade policies” for weighing on market sentiment, resulting in first-quarter earnings that missed estimates by a country mile. Deere reported earnings of $1.54 per share on revenues of $6.9 billion, Investor’s Business Daily reported. Analysts expected Deere earnings to climb 37 percent to $1.80 per share on revenue growth of 15 percent to $6.89 billion, according to Zacks Investment Research. Despite the earnings miss, Deere affirmed earlier guidance for full-year revenue growth of 7 percent and net income of about $3.6 billion. Deere stock fell 3.3 percent in early trading today after closing down 0.2 percent at $162.42 on Thursday.