Diamonds and Dogs
Deere (DE) bouncing back following earnings. Deere actually missed estimates by 19 cents on inline sales. Sales rose 34% to $9.75 billion. For the current quarter Deere dramatically raised estimates to $9.2 billion verse estimates of just $8.84 billion. The company also raised estimates modestly for the full year. Farmers are still in the planting season here in the U.S, making notable progress in the past few weeks after showing a notable delay in planting due to the late spring.
Nothing is going right at Campbell Soup (CPB). The consumer goods maker is down 11% today and down 35% in the last year to a 5 year low after lowering guidance for the pull year. The CEO is stepping down and the company will go through a restructuring to get business turned around. Campbell said the acquisition of snacks maker Snyder's-Lance will hurt earnings, but long term management should get things turned around. The stock looks cheap at 10 times earnings and a dividend yield of 3.3%.
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