General Mills Falls as Slump Prompts Company to Cut Forecast
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General Mills Inc., the maker of Cheerios, Bisquick and Yoplait, fell 3.6 percent after slow growth in emerging markets and a lingering slump at home forced the company to cut its forecast.
Earnings are now expected to climb in the low-single digits for the fiscal year ending in May, the Minneapolis-based company said today in a statement. That was down from an earlier prediction of high-single digits. Sales, meanwhile, will grow in the low-single digits, compared with a previous projection for mid-single digits.