MOLINE, Ill. (AP) -- Even though sales of its green tractors, bulldozers and other equipment fell sharply, Deere & Co. reported better-than-expected fourth-quarter earnings as it cut costs.
The Moline, Illinois-based company also posted an earnings outlook for the year that surpassed Wall Street expectations. Its shares rose more than 2 percent in morning trading.
Deere has been hurt by weak commodity prices which have made farmers less likely to buy new equipment. And falling oil prices has hurt sales of its construction equipment.
Sales of its agriculture equipment, which include tractors, fell 25% in the quarter from a year ...