MOLINE, Illinois — When it comes to YOUR MONEY, we want to take it a step further. That's why Mark Grywacheski appears on Good Morning Quad Cities every Monday to give us his analysis of the latest business, economic, and financial news.
If you invest in John Deere, your stock is going way up.
On Friday, February 21st, Deere and Company reported its latest quarterly earnings, which sent its stock surging 7%.
The reason why? The company did better than expected. In its last quarterly report - the one before this one - management lowered its 2020 outlook based on weakness in construction and agriculture equipment.
However, during Good Morning Quad Cities' Your Money Segment on Monday, February 24th, Mark Grywacheski - Investment Advisor with the Quad Cities Investment Group - explained that the end of the U.S.-China trade dispute is making a big difference.
"Last quarter, John Deere stated that the China trade dispute was negatively impacting farmers - who would then have less money to spend on agricultural equipment," he said. "But under the terms of this recent trade settlement with China, China's now buying substantial quantities of U.S. soybeans, pork, agricultural products, so on Friday John Deere stated that this is now translating to a renewed optimism among American farmers, which will ultimately benefit John Deere."
Company leaders say Deere had a profit of $1.63 a share, which is up nearly 4% compared to this time last year.
Grywacheski also touched on the U.S. manufacturing industry and the impact the coronavirus is having on manufacturers around the world. To hear that part of our conversation, click the video clip above.