Business News

It Runs Like a Deere

The world's No. 2 personal computer maker, Hewlett-Packard, posted a profit of $1.01 billion.  That was down 11% from last year.  Sales across most of HP's product lines fell, dragging its total revenue down 6.8% to $25.45 billion. Its enterprise services unit, which accounts for about a fifth of total revenue, suffered the most with a 16% drop. (Reuters)

John Deere is the world's leading seller of farming equipment. Deere reported second-quarter profits today that smashed expectations. Earnings per share came in at $2.03. The company reported sales of $8.17 billion. Deere forecast that sales of construction and forestry equipment will increase 2% this year, with sales improvements in the US and Europe offsetting declines elsewhere. Deere, however, has a bleak outlook for the agricultural sector, saying it sees weak demand for tractors and other heavy machinery. (Business Insider)

The worst U.S. avian-flu outbreak ever has resulted in the deaths or extermination of at least 38.9 million birds. That's about 10% of the U.S. egg-laying flock. Egg prices are soaring as a result. Shares of the nation’s largest egg producer, Cal-Maine Foods, are up 39% in the last month. (WSJ)

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