Business briefs.(Business)

0 Comments | Daily Herald (Arlington Heights, IL), May, 2001

Morgan Stanley reduce outlook for telecoms LISLE -Morgan Stanley Dean Witter reduced its outlook for Tellabs and three other telecom or wireline companies - JDS Uniphase, Sycamore Networks and Nortel Networks - to "neutral" from "outperform." It said an industry recovery may be further away than expected, possibly as late as the third quarter of 2002.

Deere buys irrigation equipment company MOLINE, Ill. -Deere & Co. has agreed to buy irrigation products distributor Richton International Corp. for about $125 million, as part of a plan to launch a new enterprise catering to landscaping and irrigation professionals. The acquisition announced Wednesday is dependent upon the approval of Richton shareholders. Officials said Deere plans to fold Richton's...