Why Deere Stock Shot Higher in November

Lou Whiteman, The Motley Fool
·2 min read
Why Deere Stock Shot Higher in November

Late last month, heavy equipment manufacturer Deere & Co. (NYSE: DE) reported better-than-expected fiscal fourth-quarter results thanks to strong demand from agricultural customers. Investors cheered both its results and management's forecast for more good times to come, sending shares of Deere up 11.4% in November, according to data provided by S&P Global Market Intelligence. Higher crop prices, driven in part by disruptions in Ukraine -- normally a major food exporter -- have provided farmers with funds to invest in new tractors and other heavy machinery.

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