Deere has reported a surprisingly strong first quarter after an extended period in which the tractor maker was bruised by the ongoing trade war between the United States and China.
CEO John May says that farmer confidence, though still subdued, has improved on hopes of a relaxation in those trade tensions. The agricultural and construction equipment manufacturer had posted three consecutive quarters of falling profits and slowing sales growth.
Shares of Deere & Co. jumped 7% Friday.
