Deere likely to send bears scampering
The company's cost cuts are dropping to the bottom line, and sales are zooming.
By Jim Cramer, TheStreet
Deere (DE) is as about important as it gets for this market. Deere is ag; it is road construction; it is lawn gear.
Deere is American industry, and the company's numbers support my new theory that we are in some sort of boom, which has been aided by some brilliant management by CEOs who will not only end all talk of double-dip but who will eventually cause all of those correction-callers to realize that they have to get in on this market.
Deere is a conservative company that has been missing conservative guidance for almost two years now. It is well run and was thought to be running lean, but it turned out that it wasn't as lean as it had to be.
Now we are seeing the costs cuts drop to the bottom line and the sales zoom, which should be good for more companies than Deere, including everyone from Cummins (CMI) and Caterpillar (CAT) to Mosaic (MOS) and Agrium (AGU).
Look for it to be another day when the bears should have to scramble.
At the time of publication, Cramer had no positions in the stocks mentioned.
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