Stock Movers: Deere, Cisco, Tapestry

Bloomberg

2 days ago

On this episode of Stock Movers: - Deere (DE) fell in the premarket after the agricultural-equipment giant trimmed its net income forecast for the full year. The midpoint of the new range is below analysts' expectations. The builder of the iconic green and yellow machines used to plant and harvest crops estimated 2025 net income between $4.75 billion and $5.25 billion. That's down from a forecast in May for between $4.75 billion and $5.50 billion, and compares to a Bloomberg estimate for $5.08 billion. - Tapestry (TPR) is down with the company's EPS outlook includes a negative impact of 60 cents from higher duties, according to a statement, with Chief Financial Officer Scott Roe saying the "new information" on tariffs will have a "significant" effect. Tapestry is forecasting revenue of nearly $7.2 billion in the current fiscal year, which is slightly above analysts' expectations, with revenue at Coach rising 13% and falling 13% at Kate Spade in the most recent quarter. - Cisco (CSCO) is lower after the maker of networking equipment reported earnings that were largely in line with expectations. The company gave a cautious forecast for the current fiscal year. - Bullish (BLSH) is moving to the upside, jumping from the IPO price after the digital-asset exchange operator raised $1.1 billion in an initial public offering. The company's CEO, Tom Farley, says "credibility matters a lot" in the crypto industry and being a public company listed on the New York Stock Exchange gives additional credibility