Deere Plows Higher Off Q2 Beat

'' Deere & Co.

shares are trading higher by $3.76 at $93.22 in Friday's session. The catalyst for the rally is a huge Q2 beat for EPS ($2.03 vs. $1.55 Est) and a slight miss on sales ($7.4B vs. Est. $7.53B). The company raised its forecast for net income to$1.9B for FY 2015. After reaching $93 in premarket trading it retreated to open the regular session at $91.81, then with only a nickel retreat it resumed its rally. Within minutes the issue surpassed its premarket, reaching $93.35 and made several attempts to clear that level before ball back to $93. That is the highest level for Deere since its peaked at $93.78 in June 2014. Today's price action is taking place on heavier than average volume as 5M shares have already changed hands compared with its 20 day average of 2.55M with less than fours to go in the session.