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Deere (DE) Stock is Slumping on Earnings Outlook

NEW YORK (TheStreet) -- Shares of Deere & Co. (DE - Get Report) were declining by 6.77% to $84.74 in mid-morning trading on Friday, after the farming equipment manufacturer and retailer cut its full year 2015 financial outlook.

For the full year the company said it is expecting to report net income of $1.8 billion, down from its previous $1.9 billion forecast.

The company also said that it expects full year worldwide sales of its farm machinery to fall by 25% when compared to last year.

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