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Construction and Farm Machinery

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  • Feb 20- Farm equipment maker Deere& Co posted a 43 percent fall in first-quarter profit and cut its full-year profit forecast as lower corn prices and weak farm income weighed on demand for agricultural machinery. The company also has operations in Canada, Brazil, China, France, Germany, India, Russia and South Africa among others. The United States and Canada...

  • Feb 20- Farm equipment maker Deere& Co posted a 43 percent fall in quarterly profit on Friday, hurt by a decline in sales of tractors, harvesters and other farm machinery. Net income attributable to Deere fell to $387 million, or $1.12 per share, in the first quarter ended Jan. 31, from $681 million, or $1.81 per share, a year earlier. Sales fell 16.6 percent to $6.38 billion.

  • NEW YORK, Feb 17- Warren Buffett's Berkshire Hathaway Inc on Tuesday disclosed a 5 percent stake in agricultural equipment maker Deere& Co and said it shed a $3.74 billion investment in oil company Exxon Mobil Corp as oil prices plunged. The changes were among several that Berkshire made in its common stock investments in the fourth quarter, according to a U.S....

  • NEW YORK, Feb 17- Warren Buffett's Berkshire Hathaway Inc on Tuesday disclosed a new stake in agricultural and construction equipment maker Deere& Co, one of a handful of changes in its stock holdings during the fourth quarter. Berkshire reported a 17.1 million-share stake, according to a U.S. Securities and Exchange Commission filing that detailed its...

  • CHICAGO, Jan 23- Deere& Co, the world's largest maker of farm equipment, will lay off more than 900 employees at plants in Iowa and Illinois in the latest round of job cuts spurred by a decline in grain prices that is hurting demand for agricultural machinery. Iowa will be hit hardest by the reductions, with about 565 workers in Waterloo and 300 others in Ankeny slated...

  • *Better-than-expected China data lifts China- related stocks. TOKYO, Jan 20- Japanese stocks surged to a more than one-week high on Tuesday morning as China's better-than-expected growth data lifted China- related stocks, while expectations that the European Central Bank will unveil easing measures buoyed overall sentiment. China- related shares...

  • Monsanto plants its seed into farming   Wednesday, 7 Jan 2015 | 5:45 AM ET
    Monsanto plants its seed into farming

    Agriculture company Monsanto is set to report its Q1 earnings this week. Michael Cox, senior research analyst at Piper Jaffray, discusses the company and how it's bringing new technology to South America.

  • MILAN, Nov 27- Technology firm Insigma has teamed up with another Chinese company to try to buy Finmeccanica's rail assets, two people familiar with the matter said, a move that could thwart a rival bid from Hitachi. Italy's Finmeccanica is selling its unprofitable train-making unit AnsaldoBreda and its 40 percent stake in Ansaldo STS, which makes rail...

  • MILAN, Nov 27- Technology firm Insigma has teamed up with another Chinese company to try to buy Finmeccanica's rail assets, two people familiar with the matter said, a move that could thwart a rival bid from Hitachi. Italy's Finmeccanica is selling its unprofitable train-making unit AnsaldoBreda and its 40 percent stake in Ansaldo STS, which makes rail...

  • Nov 26- Deere& Co said it expected equipment sales to fall further as lower grain prices discourage farmers from buying tractors, harvesters and other machinery. Corn prices have fallen about 11 percent this year so far, on top of a decline of nearly 40 percent last year. Moline, Illinois- based Deere cut its forecast for corn price next year to about $3.45 per bushel...

  • Nov 26- Deere& Co forecast a drop in equipment sales in the current quarter as lower grain prices discourage farmers from buying tractors, harvesters and other agricultural machinery. Corn prices have fallen about 11 percent this year, on top of a decline of nearly 40 percent last year. Net income attributable to Deere fell to $649.2 million, or $1.83 per share, in...

  • BEIJING, Nov 9- There will be no "major announcement" on a Washington- backed Asia-Pacific free trade deal during a meeting of leaders from the region in Beijing this week, U.S. Few expected that a deal on the ambitious 12- country Trans-Pacific Partnership could be reached this year, largely because of a deadlock between the pact's two biggest economies, the United...

  • Oct 31- Construction equipment company Caterpillar Inc on Friday said the U.S. Securities and Exchange Commission is investigating how it accounted for its July 2011 purchase of Bucyrus International Inc.. In its quarterly report, Caterpillar said the Sept. 10 subpoena from the SEC seeks information about its accounting for goodwill relating to the $7.6...

  • SHANGHAI, Oct 15- Chinese stock markets rose on Tuesday, with major indexes lifted by airline stocks and pharmaceuticals, but analyst said sentiment remained cautious given signs of continued pressure on producer pricing power and weakness in overseas markets. The CSI300 index of the largest Shanghai and Shenzhen A-share listings was up 0.6 percent, while...

  • Deere shares fall, despite earnings beat Wednesday, 14 May 2014 | 7:26 AM ET
    John Deere lawn tractors sit on display at Klein Equipment, a John Deere dealership in Galesburg, Illinois.

    Deere on Wednesday posted a stronger-than-expected profit as cost cuts helped offset lower sales of its tractors, harvesters and earth-moving equipment.

  • Deere profit beats estimates, but outlook unchanged Wednesday, 12 Feb 2014 | 7:27 AM ET
    A John Deere R962i trailer crop sprayer, manufactured by Deere & Co., stands on display at the Green Week agricultural trade fair at the Messe Berlin exhibition center on Jan. 26, 2014.

    Deere posted a stronger-than-expected quarterly profit, but kept its full-year forecast unchanged, citing the challenges the farm equipment industry.

  • AGCO CEO: Growing profits in agriculture   Tuesday, 17 Dec 2013 | 6:53 AM ET
    AGCO CEO: Growing profits in agriculture

    Martin Richenhagen, Chairman & CEO of AGCO, shares his thoughts on the company's 2014 growth prospects, and the outlook on global agriculture. I think U.S. farmers will have money to invest, says Richenhagen.

  • Evolution of the tractor produces precision farming

    Traditional farming is going high tech, reports CNBC's Jane Wells with a look at the latest equipment designed to help farmers produce the best yields.

  • Trouble on American Farms: 'We Face a Grim Future' Monday, 20 May 2013 | 10:24 AM ET
    Farmer Bill Maupin verifies that his equipment is dropping seeds at the appropriate depth as he plants a cornfield outside Henry, Ill.

    Worried about a possible economic bust in agriculture like that of the 1980s, farmers talk about their growing fears.

  • Next Group That May Be Slammed by Debt: Farmers Thursday, 16 May 2013 | 10:36 AM ET

    It would take a perfect storm, but there are worries the current economic boom for farmers could turn into a bust. The issue is how much debt farmers take on.