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The Boston Globe

Business

Deere & Co. cuts earnings forecast; stock falls

Deere & Co. cut its full-year profit forecast $3.1 billion from $3.35 billion as overseas sales slow, particularly in Argentina and India, undermining the growth strategy of the world’s largest manufacturer of agricultural equipment. The shares fell the most in a year. Deere plans to get at least half its sales from outside the United States and Canada by 2018, compared with 39 percent now.