Deere & Co. shares climbed the most in two weeks with the end of a monthlong strike at its U.S. plants easing concern about the company’s ability to supply farmers with equipment.
Late Wednesday, United Auto Workers members voted 61% to 39% to ratify a new labor contract with the company, putting an end to their first strike since 1986. The deal will increase pay and boost retirement benefits over six years. The union said the work stoppage “captured the mood of a nation” wanting fair wages and benefits for workers. The company said in a message that operations would resume Wednesday night with many reporting to the third shift.