Key Takeaways
- John Deere (DE) reported Q4 2025 EPS of $3.93, exceeding estimates, and net income of $1.07 billion, but its 2026 net income forecast of $4.00 billion to $4.75 billion came in significantly below the $5.31 billion analyst consensus.
- Russian Deputy Foreign Minister Sergei Ryabkov stated that Russia-US relations are only at an early stage of normalization, with Russia's arms treaty proposals intended to gain time for assessment and strategic dialogue.
- A Paris court has postponed the hearing on a request to suspend Chinese online platform Shein in France to December 5, following accusations of the company selling illegal products.
- US equity futures are trading with modest gains as global markets anticipate the upcoming UK Budget.
John Deere Exceeds Q4 Expectations, But 2026 Outlook Disappoints
John Deere (DE) delivered stronger-than-anticipated financial results for the fourth quarter of 2025, with earnings per share (EPS) of $3.93, surpassing the estimated $3.88. The agricultural and heavy equipment manufacturer also reported a net income of $1.07 billion, exceeding the $1.05 billion consensus, and construction and forestry net sales of $3.38 billion against an estimated $3.18 billion.
Despite the positive Q4 performance, the company's 2026 net income forecast struck a cautious note, projected to be between $4.00 billion and $4.75 billion. This outlook falls considerably below analyst expectations of $5.31 billion, indicating a more conservative stance for the upcoming fiscal year.
Russia-US Relations Remain Strained Amid Arms Treaty Discussions
Russian Deputy Foreign Minister Sergei Ryabkov has indicated that relations between Russia and the United States are currently in an early stage of normalization. Ryabkov emphasized that Russia's proposals regarding the New START nuclear arms control treaty are designed to prevent negative global scenarios and allow time to assess the situation for strategic dialogue.
President Putin previously offered to voluntarily uphold the limits of the 2010 New START accord, which is set to expire in February, provided the U.S. reciprocates. Ryabkov highlighted the complexity of the normalization process, reiterating Moscow's openness to finding a balance of interests.
Shein's French Legal Battle Postponed
The Chinese online fast-fashion retailer Shein continues to face legal challenges in France, as a Paris court has postponed a hearing on a request for its suspension in the country until December 5. This development follows the EU Commission's request for Shein to provide information regarding the sale of illegal products on its platform.
French authorities initiated proceedings to suspend Shein after discovering childlike sex dolls and weapons being sold through its marketplace. In response, Shein has removed all illicit products and temporarily suspended its marketplace for third-party sellers, thereby avoiding an immediate suspension. The company remains under close surveillance by state services as legal proceedings continue.
Global Markets See Modest Gains Ahead of UK Budget
US equity futures are trading with modest gains as global market participants look ahead to the impending UK Budget. The UK Budget is a significant event, with reports indicating that Chancellor Reeves is expected to announce measures such as protecting the national minimum wage, freezing rail fares, and potentially lifting the two-child benefit cap.
However, the UK's Office for Budget Responsibility (OBR) is reportedly set to forecast lower economic growth in 2026 and for every subsequent Parliament year, which could add a cautious tone to the fiscal outlook.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.