Deere ( DE) shares were flat at $76.41 in premarket trading Wednesday after the farm equipment maker swung to a profit in its fiscal fourth quarter, reporting net income of $457.2 million, or $1.07 a share. The Wall Street consensus estimate for the quarter was earnings of 94 cents a share.
NEW YORK (TheStreet) --
Shares of Frontline ( FRO) were falling 4.1% to $26.61 as the company said it expects to see continued weakness in tanker rates amid an oversupply of ships and a still vulnerable economy.
Shares of Deutsche Bank ( DB) were down 0.8% to $51.79. The company said cost-cutting activities for its global wealth-management operations were complete.
Tiffany ( TIF) shares rose in premarket trading Wednesday as the luxury retailer reported that third-quarter net earnings rose 27% from a year earlier. Tiffany shares rose $1.68, or 2.9%, to $59.95.
SAP's ( SAP) American depositary receipts were falling 2.2% to $47.61 in premarket trading after the company was ordered by a court to pay rival Oracle ( ORCL) $1.3 billion after losing a copyright infringement case. Oracle shares were rising by 1.8% to $27.68. SAP said the verdict won't impact its full-year outlook.
Gilead Sciences ( GILD) on Tuesday said that it asked the Food and Drug Administration to approve a single pill combining its Truvada HIV treatment and Tibotec Pharmaceuticals' HIV treatment. According to findings published in the New England Journal of Medicine, Gilead's Truvada drug reduces HIV risk by 44%. According to Bloomberg, the findings could help the company add $1 billion to its revenue. Shares of Gilead Sciences rose 52 cents, or 1.4%, to $37.50 in premarket trading Wednesday.
Bank of Ireland ( IRE) shares were plunging by 23.5% to $1.30 in premarket trading on news that the Irish government could take control of the nation's last independent bank. The news came as Ireland seeks aid from the European Union for its troubled financial sector.
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