Bloomberg the Company & Products

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Deere Rises After $8 Billion Buyback Authorization

Don't Miss Out —
Follow us on:

Dec. 4 (Bloomberg) -- Deere & Co., the world’s largest maker of agricultural equipment, rose the most in seven months after saying it will repurchase as much as $8 billion in stock.

The buyback program will supplement the $1 billion remaining as of Oct. 31 from a $5 billion share authorization announced in May 2008, Moline, Illinois-based Deere said in a statement today. The board also declared a quarterly dividend of 51 cents a share, unchanged from the previous payout.

Deere advanced 3.2 percent to $85.38 in New York, the biggest gain since April 29.

“This is positive,” Matt Arnold, a St. Louis-based analyst for Edward Jones & Co. who recommends buying the shares, said in a telephone interview. “This is one of the stocks that has not moved positively with the broader market.”

Deere has declined 0.7 percent in 2013 as it forecast sales and earnings will fall in its 2014 fiscal year. The Standard & Poor’s Index has gained 26 percent in the same period.

To contact the reporter on this story: Shruti Date Singh in Chicago at

To contact the editor responsible for this story: Simon Casey at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.