Inside these posts: Farm equipment manufacturer

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Deere raises forecast as fiscal 1Q profit doubles

Farm equipment maker Deere & Co. reported a doubling of quarterly profit Wednesday amid strong North American sales of large, high-margin machines and price increases, and lifted its full-year profit forecast.

The world’s largest maker of tractors and combines earned $513 million, or $1.20 per share, in the first quarter ended Jan. 31, up from $243.2 million, or 57 cents per share a year earlier. Get the full story »