DE - Behind Divergent Stock Movements: Why CNH Industrial Is Outperforming Deere
2024-02-22 17:40:17 ET
Summary
- Deere and CNH Industrial are the top farming machinery manufacturers, but their stocks have performed differently after earnings reports.
- CNH Industrial benefited from unmet demand by Deere, leading to better performance, but the outlook for future quarters weakened.
- CNH Industrial reported positive earnings, with increased net sales and improved margins, and expects a decrease in sales but aims to increase margins through cost reduction.
Introduction
Deere ( DE ) and CNH Industrial ( CNHI ) are No. 1 and No. 2 among farming machinery and equipment manufacturers. This means they deal with the same macroeconomic trends, and often, they trade in a correlated way.
However, after both companies reported earnings, the two stocks performed differently, with John Deere sliding while CNH Industrial popped ....
Behind Divergent Stock Movements: Why CNH Industrial Is Outperforming Deere