General Mills, Inc. (GIS)

[peterquinnvet]

11:26 a.m. ET: General Mills notches best 2-day gain on better-than-expected earnings

Shares of General Mills (GIS) rose for a second straight day after the food giant reported better-than-expected earnings results and full-year guidance on Wednesday.

The company lifted forecasts on its full-year core sales and profit thanks to a boost from higher prices and strong demand for cereals, snack bars and pet food.

“More important than the 3Q beat, in our view, was the company raising its full-year outlook (beyond what was expected exiting 2Q),” Deutsche Bank analyst Steve Powers said in a note.

General Mills stock was up 2.65% to $65.93 per share as of 11:24 a.m. ET after climbing as much as 6% in early trading.

Source: https://finance.yahoo.com/news/stock-market-news-live-updates-march-24-2022-223153836.html