John Deere Hits A Bump: Stock Slips Amid $9.93M Bribery Settlement
Portfolio Pulse from Surbhi Jain
John Deere (NYSE:DE) faces a $9.93 million SEC settlement over bribery charges involving its subsidiary, Wirtgen Thailand. Despite a 16.8% sales drop in Q3, analysts remain optimistic about Deere's long-term prospects, supported by strong earnings, dividends, and a share buyback program. The stock shows bullish technical indicators, but the bribery settlement and recent declines in key segments pose short-term challenges.
September 10, 2024 | 3:31 pm
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John Deere's $9.93 million bribery settlement with the SEC could impact its stock in the short term. Despite a 16.8% sales drop in Q3, the company maintains strong earnings, dividends, and a share buyback program. Technical indicators show bullish trends, but the bribery issue and segment declines may cause volatility.
The bribery settlement is a significant legal issue that could negatively impact investor sentiment and stock price in the short term. However, Deere's strong earnings, dividends, and share buyback program provide a buffer. The stock's bullish technical indicators suggest potential for recovery, but the recent sales drop and bribery charges introduce uncertainty.
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