Market review: Deere shares jump as farm economy shows signs of life

February 23, 2020 at 5:08AM
FILE - In this Oct. 18, 2011, file photo, the Morgan Stanley logo is displayed on its Times Square building, in New York. Morgan Stanley is buying online brokerage E-Trade in an all-stock deal valued at about $13 billion. In the all-stock deal announced Thursday, Feb. 20, 2020, E*Trade shareholders will receive 1.0432 Morgan Stanley shares for each share they own. (AP Photo/Mark Lennihan, File)
FILE - In this Oct. 18, 2011, file photo, the Morgan Stanley logo is displayed on its Times Square building, in New York. Morgan Stanley is buying online brokerage E-Trade in an all-stock deal valued at about $13 billion. In the all-stock deal announced Thursday, Feb. 20, 2020, E*Trade shareholders will receive 1.0432 Morgan Stanley shares for each share they own. (AP Photo/Mark Lennihan, File) (The Minnesota Star Tribune)

Good harvest

Deere jumped 7% to $177.43 Friday after the farm equipment maker handily beat Wall Street's fiscal first-quarter profit forecasts. The company is coming out of an extended period in which it was bruised by the ongoing trade war between the U.S. and China.

Big deal

E-Trade surged 24% to $55.97 after Morgan Stanley said it will buy the online brokerage firm for $13 billion, one of the biggest deals on Wall Street since the financial crisis. E-Trade shares closed the week at $53.35. Morgan Stanley, which fell 4% to $54.24 on the news, closed Friday at $52.42.

Earnings bounce

Zillow Group jumped 19.7% to $65.23 Thursday after reporting a narrower than expected fourth-quarter loss and revenue that easily topped estimates. Shares closed the week at $65.

Lots of Benjamins

Financial services company Franklin Resources rose 6.7% to $25.99 Tuesday after saying it is buying competitor Legg Mason for $4.5 billion. Franklin shares closed the week at $25.20. Legg Mason, which rose 23.5% to $50.31 on the news, closed Friday at $50.35.

Rich crust

Domino's Pizza jumped 24.6% to $370.24 Thursday after the company delivered strong fourth-quarter profit and surprisingly good sales. The company handily beat a key sales measure. Shares closed the week at $371.96.

Dandy dividend

Analog Devices Inc. rose 4.5% to $123.89 Wednesday after the chipmaker raised its dividend after beating analysts' fiscal first-quarter earnings forecasts. Shares closed Friday at $122.76.

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