The major U.S. averages were waffling ahead of the turkey day break with the Dow and S&P 500 spending time in both negative and positive territory this session. The Nasdaq meanwhile touched record high territory, driven by strength in the tech sector.
Shares of Deere and Co (DE) were up 4% following the company's strong fourth-quarter earnings beat. Deere reported earnings of $1.57 per share, a full dime better than analysts were expecting for the period. Revenue rose 23% in the period to over $8 billion. The company also forecast first-quarter equipment sales will jump 38% year over year as demand in South America climbs.
HP Enterprise (HPE) investors are mourning the departure of CEO Meg Whitman by selling shares in the company, dropping the stock more than 9% in the process. The CEO announced that she will step down in February next year after joining the company in 2011. Whitman will be replaced by company president Antonio Neri.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Breaking down an approach to the long side of this biotech stock.
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