Was looking solid, but today DE is dropping like a rock. Is there news on this thing? This is a pretty hefty intraday beating, and I can't find any news on it at all.
I'm guessing its the Chicago Purchasing Managers Index, which showed business activity in the U.S. Midwest slipped to 58.8 in March -- falling short of economists' consensus forecast.
Take a look at industry not the sector. Deere is in the Farm and Construction Machinery industry. This industry was wacked 1.67% on average today because of the report. Take a look at a favorite I trade in the same group, Joy Global (JOYG), is down 1.84 (-3.15%) today or Bucyrus Int.(BUCY) down 3.62 (-5.2%). The surprise was CAT only down .31(-0.49%).