最新ニュース General Mills (NYSE:GIS) 株価情報

General Mills

General Mills is a global packaged food company that produces snacks, cereal, convenient meals, dough, baking mixes and ingredients, pet food, and superpremium ice cream. Its largest brands are Nature Valley, Cheerios, Old El Paso, Pillsbury, Betty Crocker, Blue Buffalo, and Haagen-Dazs. In fiscal 2024, 81% of its revenue was derived from the United States, although the company also operates in Canada, Europe, Australia, Asia, and Latin America. Although most of General Mills' products are sold through retail stores to consumers, the company also sells products to the foodservice channel and the commercial baking industry.

General Mills Inc

The U.S. Food and Drug Administration announced a ban on Red No. 3, an artificial food coloring linked to cancer in animal studies, effective Jan. 15, 2027. 
The dye, found in products ranging from candy to cold medicine, has been scrutinized for decades. This move follows the FDA's 1990 prohibition of the dye in cosmetics due to its carcinogenic <a href="https://www.benzinga.com/fda-calendar">effects on lab rats</a>.
The decision, announced on Wednesday, comes in response to a 2022 petition by consumer advocacy groups, including Consumer Reports, Public Citizen and the Environmental Working Group, urging the FDA to eliminate Red No. 3 from the American diet. The agency acknowledged the dye induces cancer in male rats and is subject to the Delaney Clause, a regulation banning substances shown to cause cancer in humans or animals from being used in food.
"Red Dye 3 poses an unacceptable risk to our health, especially when safer alternatives are readily available," said Brian Ronholm, director of food policy at Consumer Reports, <a href="https://www.bloomberg.com/news/articles/2025-01-15/us-fda-to-ban-red-dye-no-3-rfk-went-after-due-to-cancer-link?srnd=homepage-americas&amp;sref=TBDibEcD">as reported</a> by Bloomberg. Advocacy groups have argued that banning the dye will encourage manufacturers to adopt safer ingredients already in use in Europe and other countries.
<h1 class="wp-block-heading">Children's Products Loaded With Red Dye No. 3</h1>
The dye, widely prevalent in U.S. supermarkets, seems to be especially used to color food items consumed by young children. An analysis by the healthy food app <a href="https://www.gococo.app/">GoCoCo</a> revealed its presence in 26% of baking decorations, 16% of chewing gum, 13% of candy and 11% of cookies. 
Products such as Brach's candy corn produced by the Ferrara Candy Co., Betty Crocker sprinkles made by General Mills Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) and strawberry Ensure from Abbott Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABT#NYSE">ABT</a>) contain Red dye No 3. It is also used in medications, including Takeda Pharmaceutical Co. Ltd.&#8217;s (NYSE: TAK) Vyvanse, a medication used to treat attention deficit hyperactivity disorder, which <a href="https://www.cdc.gov/adhd/data/index.html#:~:text=Millions%20of%20U.S.%20children%20have%20been%20diagnosed%20with%20ADHD.&amp;text=An%20estimated%207%20million%20(11.4,parents%20using%20data%20from%202022.">affects</a> seven million U.S. children and teens.&nbsp;Store-brand heartburn remedies from Costco Wholesale Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cost#NASDAQ">COST</a>) and Rite Aid also contain Red dye No 3.
"If you can't put it on your skin why would you eat it?" said Linda Birnbaum, former director of the National Institute of Environmental Health Sciences and the National Toxicology Program, in an interview with Bloomberg last month. "Bright red dye is completely unessential. We don't need bright red candies."
The industry expressed support for the FDA's regulatory authority. "Our consumers and everyone in the food industry want and expect a strong FDA," the National Confectioners Association said in a statement.
Ferrara and General Mills have indicated their readiness to meet the new standards. Ferrara has already begun reformulating products.
While the ban marks progress, advocates like Scott Faber of the Environmental Working Group are urging the FDA to tackle other dyes, including Red No. 40 and Yellow Nos. 5 and 6, linked to hyperactivity and other health concerns.
Now Read: • <a href="https://www.benzinga.com/government/regulations/24/11/42144709/kennedys-war-on-food-dyes-could-be-coming-to-your-breakfast-table">Kennedy's War On Food Dyes Could Be Coming To Your Breakfast Table</a>
Photo: Shutterstock.

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News

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Markets

COST

FDA Bans Red Dye No. 3 Effective January 2027, Cites Cancer Risks: Food Stocks To Watch

Wells Fargo analyst Chris Carey maintains General Mills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) with a Equal-Weight and lowers the price target from $68 to $64.

Price Target

Analyst Ratings

Wells Fargo Maintains Equal-Weight on General Mills, Lowers Price Target to $64

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Truist Securities cut the price target for NIKE, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) from $97 to $90. Truist Securities analyst Joseph Civello maintained a Buy rating. Nike shares closed at $77.10 on Thursday. See how other analysts view this stock.</li>
<li>Stifel raised the price target for Darden Restaurants, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>) from $190 to $205. Stifel analyst Chris O&#8217;Cull maintained a Buy rating. Darden shares closed at $183.44 on Thursday. <a href="https://www.benzinga.com/quote/DRI/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Keefe, Bruyette &amp; Woods boosted the price target for T. Rowe Price Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TROW#NASDAQ">TROW</a>) from $114 to $116. Keefe, Bruyette &amp; Woods analyst Aidan Hall maintained a Market Perform rating. T. Rowe Price shares closed at $112.97 on Thursday. <a href="https://www.benzinga.com/quote/TROW/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>UBS cut Lennar Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) price target from $225 to $205. UBS analyst John Lovallo maintained a Buy rating. Lennar shares settled at $138.40 on Thursday. <a href="https://www.benzinga.com/quote/LEN/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Stifel raised FedEx Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) price target from $321 to $368. Stifel analyst J. Bruce Chan maintained a Buy rating. FedEx shares closed at $275.88 on Thursday. <a href="https://www.benzinga.com/quote/FDX/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Canaccord Genuity increased BlackBerry Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BB#NYSE">BB</a>) price target from $2.8 to $3. Canaccord Genuity analyst Kingsley Crane maintained a Hold rating. BlackBerry shares closed at $2.98 on Thursday.  <a href="https://www.benzinga.com/quote/BB/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Barclays cut General Mills, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) price target from $74 to $68. Barclays analyst Andrew Lazar maintained an Equal-Weight rating. General Mills shares closed at $64.01 on Thursday. See how other analysts view this stock.</li>
<li>Keefe, Bruyette &amp; Woods raised the price target for Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) from $165 to $275. Keefe, Bruyette &amp; Woods analyst Kyle Voigt maintained a Market Perform rating. Coinbase shares settled at $273.92 on Thursday. <a href="https://www.benzinga.com/quote/COIN/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Morgan Stanley raised Brinker International, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EAT#NYSE">EAT</a>) price target from $70 to $115. Morgan Stanley analyst John Glass upgraded the stock from Underweight to Equal-Weight. Brinker shares closed at $131.33 on Thursday. <a href="https://www.benzinga.com/quote/EAT/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Stifel increased FactSet Research Systems Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDS#NYSE">FDS</a>) price target from $469 to $493. Stifel analyst Shlomo Rosenbaum maintained a Hold rating. FactSet Research shares closed at $489.73 on Thursday. <a href="https://www.benzinga.com/quote/FDS/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
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Trading Ideas

COIN

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Barclays analyst Andrew Lazar maintains General Mills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) with a Equal-Weight and lowers the price target from $74 to $68.

Barclays Maintains Equal-Weight on General Mills, Lowers Price Target to $68

Citigroup analyst Thomas Palmer maintains General Mills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) with a Neutral and lowers the price target from $71 to $67.

Citigroup Maintains Neutral on General Mills, Lowers Price Target to $67

TD Cowen analyst Robert Moskow maintains General Mills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) with a Hold and lowers the price target from $75 to $64.

TD Cowen Maintains Hold on General Mills, Lowers Price Target to $64

Stifel analyst Matthew Smith maintains General Mills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) with a Buy and lowers the price target from $82 to $78.

Stifel Maintains Buy on General Mills, Lowers Price Target to $78

RBC Capital analyst Nik Modi reiterates General Mills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) with a Sector Perform and maintains $70 price target.

Reiteration

RBC Capital Reiterates Sector Perform on General Mills, Maintains $70 Price Target

Wells Fargo analyst Chris Carey maintains General Mills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) with a Equal-Weight and lowers the price target from $70 to $68.

Wells Fargo Maintains Equal-Weight on General Mills, Lowers Price Target to $68

Deutsche Bank analyst Steve Powers maintains General Mills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) with a Hold and lowers the price target from $72 to $68.

Deutsche Bank Maintains Hold on General Mills, Lowers Price Target to $68

The CNN Money Fear and Greed index showed a sharp decline in the overall market sentiment, while the index moved to the &#8220;Fear&#8221; zone on Wednesday.
U.S. stocks settled lower on Wednesday, with the Dow Jones index falling for the 10th session in a row, dipping more than 1,100 points during the session.
Federal Reserve Chair Jerome Powell adopted a hawkish stance during his Wednesday press conference after the December Fed meeting. Although the Federal Reserve lowered interest rates by 0.25% to a range of 4.25%-4.5%, as widely anticipated, the updated economic projections suggest just two potential rate cuts in 2025 — down from four projected in September and fewer than the three anticipated by markets before the meeting.
On the economic data front, the U.S. recorded a current account deficit of $310.9 billion in the third quarter compared to the revised gap of $275.0 billion in the previous period, versus market estimates of a $284 billion gap. U.S. housing starts fell 1.8% to an annualized rate of 1.289 million units in November from 1.312 million in October.
General Mills, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) shares fell around 3% on Wednesday following the release of second-quarter results. Shares of Worthington Enterprises, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOR#NYSE">WOR</a>) rose around 10% during Wednesday&#8217;s session as the company posted better-than-expected results for its second quarter.
All sectors on the S&amp;P 500 closed on a negative note, with consumer discretionary, real estate, and communication services stocks recording the biggest losses on Wednesday.
The Dow Jones closed lower by around 1,123 points to 42,326.87 on Wednesday. The S&amp;P 500 fell 2.95% to 5,872.16, while the Nasdaq Composite declined 3.56% at 19,392.69 during Wednesday's session.
Investors are awaiting earnings results from Accenture Plc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>), Nike Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>), and FedEx Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 33.9, the index moved to the &#8220;Fear&#8221; zone on Wednesday, versus a prior reading of 50.7.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
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Photo courtesy: Shutterstock

Earnings

Pre-Market Outlook

Dow Dips Over 1,100 Points, Falling For 10th Session As Powell Adopts Hawkish Stance: Greed Index Moves To 'Fear' Zone

General Mills, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) is trading lower on Wednesday. The company reported earnings and Wall Street didn't like what it heard.
Our team of technical analysts has made it our Stock of the Day. There is a good chance the shares rally off of the current levels.
The company posted earnings that were better than estimates. For the quarter, General Mills earned $1.40 per share. This was well ahead of the $1.22 the Street was looking for.
Sales were higher than estimates as well. They came in at $5.24 billion. Analysts were looking for $5.14 billion.
But the stock is getting hit because the company lowered its<a href="https://www.benzinga.com/news/earnings/24/12/42552249/general-mills-beats-on-q2-earnings-stock-slumps-on-lackluster-outlook"> full-year earnings outlook</a>.
General Mills is now looking for earnings to be down 1% to 3%. This compares with previous guidance for a 1% decrease to a 1% gain.
There is a good chance the stock will reverse and head higher.
As you can see on the chart, over the past year each time it dropped to around $62.50 it found support and a rally followed. It could happen again.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="565" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/18124838/GeneralMills.1220241-1024x565.png" alt="" class="wp-image-698287" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/18124838/GeneralMills.1220241-1024x565.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/18124838/GeneralMills.1220241-300x166.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/18124838/GeneralMills.1220241-768x424.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/18124838/GeneralMills.1220241.png 1489w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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In the stock market, some price levels are more important than others. That's the case here. $62.50 is an important support level.
Sometimes, an important price level can retain its importance for a long time. This is referred to as &#8220;market memory.&#8221;
Support levels can stay intact because of psychology. There are traders who sold shares while the stock was previously at support. Some of them regretted their decisions to do so when the price rallied soon after.
A number of them decide to buy their shares back if they could get them for the same price they were sold. As a result, when the stock fell back to what had been support before, they placed buy orders.
If there are enough of these buy orders, it creates support again at the level. That is what happened here.
Sometimes stocks rally off of support levels. This happens when the people who created the support with their buy orders are afraid someone else will be willing to pay a higher price.
They know that's who the sellers will go to. They don't want to miss out, so they increase the price they are willing to pay. Others see this and do the same thing.
It could result in a snowball effect that forces the stock higher. It's happened before with General Mills and it may be about to happen again.
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Photo: T. Schneider via Shutterstock

Technicals

Movers

Stock Of The Day: Time To Buy General Mills?

Wall Street inched marginally higher during Wednesday morning trading in New York, with traders remaining on edge ahead of the eagerly anticipated Federal Reserve meeting scheduled for 2 p.m. ET, followed by Fed Chair Jerome Powell&#8216;s press conference <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42554114/all-eyes-on-december-fed-meeting-as-traders-await-interest-rate-projections">at 2:30 p.m. ET.</a>
The Fed is widely expected to reduce interest rates by 25 basis points to a target range of 4.25%-4.50%. Yet, the market&#8217;s reaction is likely to hinge on the updated economic projections and Powell&#8217;s commentary on future policy direction.
The semiconductor sector rebounded strongly, with the iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) climbing 0.9% after a 1.6% dip on Tuesday. Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) surged 3.6%, on track to mark its best single-day gain in a month and to snap a four-day losing streak. The jump followed Nvidia&#8217;s announcement of a new $249 Jetson computer for AI applications, significantly cheaper than its predecessor priced at $499.
In currency markets, the U.S. dollar edged 0.2% higher, with the DXY index breaking above 107, its highest level in three weeks. Treasury yields were steady, with the 10-year yield holding at 4.40% as traders awaited the Fed&#8217;s decision.
Commodities presented a mixed picture: gold slipped 0.4%, while WTI crude gained 1.2%, supported by a larger-than-expected drawdown in U.S. crude inventories.
The cryptocurrency market took a breather after recent strong gains, with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) down 1.8%, trading below the $105,000 mark.
<h1 class="wp-block-heading">Wednesday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day % chg</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>43,597.75</td>
<td>0.3%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>6,063.18</td>
<td>0.2%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,337.19</td>
<td>0.1%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>22,010.91</td>
<td>0.0%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:10 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent121824&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.2% to $605.62.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 0.4% to $437.08.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) held steady at $535.84.</li>
<li>The&nbsp;iShares Russell 2000 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) edged 0.2% up to $231.42.</li>
<li>The&nbsp;Technology Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, up by 0.4%; the&nbsp;Real Estate Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) lagged, down 0.4%.</li>
</ul>
<h1 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h1>
<ul>
<li>Micron Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) rose 2.4% ahead of its fiscal first-quarter earnings report. Analysts anticipate adjusted earnings of $1.76 per share on revenue of $8.7 billion for the quarter.</li>
<li>Stocks reacting to earnings reports included General Mills Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>), down 3%; Jabil Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JBL#NYSE">JBL</a>), up 9.6% and Heico Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HEI#NYSE">HEI</a>), down 8.7%.</li>
</ul>
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Stocks Inch Up Ahead Of Fed Decision, Nvidia Set To Snap Four Straight Losses, Bitcoin Slips: What's Driving Markets Wednesday?

U.S. stocks traded higher midway through trading, with the Dow Jones index gaining around 150 points on Wednesday.
The Dow traded up 0.52% to 43,674.00 while the NASDAQ rose 0.26% to 20,161.35. The S&amp;P 500 also rose, gaining, 0.31% to 6,069.24.
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Leading and Lagging Sectors Information technology shares rose by 0.6% on Wednesday.
In trading on Wednesday, real estate shares fell by 0.3%.
Top Headline
General Mills, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) shares fell around 3% on Wednesday following the release of second-quarter results.
The company reported second-quarter adjusted earnings per share of $1.40, beating the street view of $1.22. Quarterly sales of $5.24 billion beat the analyst consensus estimate of $5.14 billion.
General Mills has revised its FY25 adjusted EPS outlook, now expecting a decline of 3% to 1% in constant currency. This adjustment compares to the previous outlook range of a decline of 1% to a growth of 1% in constant currency.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Polyrizon Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLRZ#NASDAQ">PLRZ</a>) shares shot up 227% to $3.4277 after the company announced it secured a GMP partnership with Eurofins CDO Amatsiaquitaine.</li>
<li>Shares of KULR Technology Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KULR#NASDAQ">KULR</a>)got a boost, surging 200% to $0.5353 after the company announced it regained NYSE stockholders&#8217; equity required compliance status.</li>
<li>Worthington Enterprises, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOR#NYSE">WOR</a>) shares were also up, gaining 16% to $44.35 as the company posted better-than-expected results for its second quarter.</li>
</ul>
Equities Trading DOWN
<ul>
<li>TransCode Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RNAZ#NASDAQ">RNAZ</a>) shares dropped 41% to $3.7280. TransCode Therapeutics announced Safety Review Committee approval of opening third cohort and preliminary results from first cohort in Phase 1 TTX-MC138 clinical trial.</li>
<li>Shares of HEICO Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HEI#NYSE">HEI</a>) were down 9% to $236.77 following mixed fourth-quarter results.</li>
<li>Corvus Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRVS#NASDAQ">CRVS</a>) was down, falling 46% to $4.02. The company announced interim data from the randomized, double-blind, placebo-controlled Phase 1 clinical trial evaluating soquelitinib in patients with moderate to severe atopic dermatitis.</li>
</ul>
Commodities In commodity news, oil traded up 1.3% to $71.02 while gold traded down 0.4% at $2,651.90.
Silver traded down 1% to $30.625 on Wednesday, while copper rose 0.2% to $4.1535.
Euro zone
European shares were mostly higher today. The eurozone's STOXX 600 rose 0.15%, Germany's DAX fell 0.02% and France's CAC 40 rose 0.26%. Spain's IBEX 35 Index gained 0.26%, while London's FTSE 100 rose 0.05%.
Asia Pacific Markets
Asian markets closed mixed on Wednesday, with Japan's Nikkei 225 falling 0.72%, Hong Kong's Hang Seng Index gaining 0.83%, China's Shanghai Composite Index gaining 0.62% and India's BSE Sensex falling 0.62%.
Economics
<ul>
<li>U.S. mortgage applications fell by 0.7% from the previous week during the week ending Dec. 13, compared to the 5.4% gain in the previous week.</li>
<li>The U.S. recorded a current account deficit of $310.9 billion in the third quarter compared to the revised gap of $275.0 billion in the previous period and versus market estimates of a $284 billion gap.</li>
<li>U.S. housing starts fell 1.8% to an annualized rate of 1.289 million units in November from 1.312 million in October.</li>
<li>U.S. building permits in gained by 6.1% to an annualized rate of 1.505 million in November.</li>
<li>U.S. stocks of crude oil declined by 934 thousand barrels in the second week of December, compared to a 1.425 million barrel fall in the previous week, and versus market expectations of a 1.7 million barrel decline.</li>
</ul>
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Crude Oil Gains Over 1%, General Mills Shares Fall

General Mills, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) shares are trading lower in the <a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">premarket session on Wednesday.</a>
The company reported second-quarter adjusted earnings per share of $1.40,<a target="_blank" href="https://www.benzinga.com/pressreleases/24/12/b42549821/general-mills-reports-fiscal-2025-second-quarter-results-and-updates-full-year-outlook" rel="noreferrer noopener"> beating the street view of $1.22</a>.
Quarterly sales of $5.24 billion beat the analyst consensus estimate of $5.14 billion. Quarterly sales&nbsp;were up 2%, driven by higher pound volume, while organic net sales&nbsp;increased 1%.
Gross margin&nbsp;was up 250 basis points to 36.9%, driven primarily by Holistic Margin Management cost savings and favorable mark-to-market effects, partially offset by input cost inflation.
Adjusted gross margin was up 130 basis points to 36.3%. Operating profit of $1.1 billion was up 33%, driven primarily by higher gross profit dollars and a goodwill impairment charge a year ago.
Also Read: <a target="_blank" href="https://www.benzinga.com/24/12/42550944/whats-going-on-with-nio-stock-today" rel="noreferrer noopener">What&#8217;s Going On With NIO Stock Today?</a>
The acquisition of the Edgard &amp; Cooper pet food business in the fourth quarter of fiscal 2024 impacted the comparability of second-quarter and year-to-date International segment operating results between fiscal 2024 and fiscal 2025.
The company exited the quarter with cash and equivalents worth $2.292 billion. Inventories were $1.967 billion.
Outlook: General Mills says organic net sales&nbsp;are still expected to range between flat and up 1%, with the company now targeting the lower end of the range due to increased promotional investment.&nbsp;
General Mills has revised its FY25 adjusted EPS outlook, now expecting a decline of 3% to 1% in constant currency. This adjustment compares to the previous outlook range of a decline of 1% to a growth of 1%&nbsp;in constant currency.
Adjusted operating profit&nbsp;is now expected to range between down 4% and down 2% in constant currency, compared to the previous range of between down 2% and flat in constant currency, reflecting higher investment levels.
Price Action: GIS shares are trading lower by 4.29% to $63.10 premarket at last check Wednesday.
Read Next:
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<li><a href="https://www.benzinga.com/general/market-summary/24/12/42548385/fund-managers-increase-allocation-to-banking-and-insurance-stocks-in-december-here-are-the-best-performing-financial-stocks-in-2024" target="_blank" rel="noreferrer noopener">Fund Managers Increase Allocation To Banking And Insurance Stocks In December: Here Are The Best Performing Financial Stocks In 2024</a></li>
</ul>

Guidance

General

General Mills Beats On Q2 Earnings, Stock Slumps On Lackluster Outlook

WIIM

General Mills shares are trading lower after the company reported Q2 financial results and lowered FY25 adjusted EPS outlook.

General Mills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) reported quarterly earnings of $1.40 per share which beat the analyst consensus estimate of $1.22 by 14.75 percent. This is a 12 percent increase over earnings of $1.25 per share from the same period last year. The company reported quarterly sales of $5.24 billion which beat the analyst consensus estimate of $5.14 billion by 1.94 percent. This is a 1.97 percent increase over sales of $5.14 billion the same period last year.

Earnings Beats

CORRECTION: General Mills Q2 2025 Adj EPS $1.40 Beats $1.22 Estimate, Sales $5.24B Beat $5.14B Estimate

Adjusted operating profit is now expected to range between down 4 percent and down 2 percent in constant currency, compared to the previous range of between down 2 percent and flat in constant currency, reflecting higher investment levels.&nbsp;

General Mills Revises FY25 Adjusted EPS Outlook Range To Down 3% To Down 1% In Constant Currency, Compared To Previous Range Of Down 1% To Up 1%

Organic net sales results in the second half are expected to include a 1-point headwind from the reversal of timing-related benefits in the second quarter.

General Mills Now Targets Lower End Of FY25 Organic Net Sales Outlook Range Of Flat To Up 1%, Due To Increased Promotional Investment

U.S. stock futures climbed on Wednesday in premarket hours as Wall Street awaits the Federal Reserve&#8217;s final interest rate decision for 2024 and its monetary policy forecasts for 2025.
On Tuesday, the Dow Jones index fell for the <a href="https://www.benzinga.com/news/earnings/24/12/42546507/dow-records-longest-losing-streak-since-1978-nvidia-declines-fear-greed-index-in-neutral-zone">ninth session in a row</a> to record its longest losing streak since 1978.
The 10-year and two-year Treasury notes yielded 4.40% and 4.25%, respectively. The Federal Open Market Committee will announce its decision later in the day after a two-day meeting.
It is widely expected to announce another interest rate reduction at the conclusion of their meeting on Wednesday. Expectations of a 25 basis point rate cut rose to 95.4%, from 58.7% a month ago, according <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">to</a> CME Group&#8217;s FedWatch tool.
If the Fed cuts rates, it would be the third consecutive cut, bringing the federal funds rate down from its current level of 4.50% to 4.75%. Following the meeting, Chairman Jerome Powell&#8217;s remarks will be closely scrutinized by market participants.
Investors will receive another critical economic data point on Friday with the release of the November personal consumption expenditures (PCE) inflation index. This release follows other inflation indicators that suggest price increases accelerated in November.
Prior to that, GDP revisions on Thursday will reveal whether the economy maintained the previously estimated 2.8% growth rate for the third quarter.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>0.24%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.28%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.24%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>0.49%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Wednesday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was up 0.25% to $605.80 and the Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.24% to $537.09, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Cues From The Last Session
The <a href="https://www.benzinga.com/news/earnings/24/12/42546507/dow-records-longest-losing-streak-since-1978-nvidia-declines-fear-greed-index-in-neutral-zone">Dow Jones Industrial Average </a>extended its losing streak to nine consecutive sessions on Tuesday, its longest downturn since 1978. This negative trend weighed on the broader U.S. stock market.
While Tesla shares rallied after a positive analyst upgrade, Nvidia experienced a slight decline.
On the economic front, U.S. retail sales exceeded expectations in November, suggesting increased consumer spending. However, industrial production contracted, signaling a slowdown in manufacturing activity.
The S&amp;P 500 saw a broad-based decline, with industrials, energy, and financials leading the losses. Consumer discretionary stocks, on the other hand, bucked the trend and closed higher.
At the close of trading, the Dow Jones Industrial Average had fallen by approximately 268 points to 43,449.90. The S&amp;P 500 and Nasdaq Composite also ended the day lower, declining by 0.39% and 0.32%, respectively.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-0.32%</td>
<td>20,109.06</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.39%</td>
<td>6,050.61</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.61%</td>
<td>43,449.90</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-1.18%</td>
<td>2,334.08</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts
The Dow Jones Industrial Average index last saw a nine-day fall for the first time since February 1978, according to FactSet data. However, the index has seen steeper crashes in a single day as compared to the cumulative erosion it has witnessed over these nine days.
Dow Jones has fallen nearly 3.47% to 43,449.90 points over the last nine days since Dec. 4, when it was at 45,014.04 points.
&#8220;Since 1900, I see 267 times it lost more than 3.47% in a single day,&#8221; said Ryan Detrick, chief market strategist at Carson Research.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The Dow is down 3.47% the past 9 days (and lower all 9 of them). Since 1900, I see 267 times it lost more than 3.47% in a single day.
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1869205905780388184?ref_src=twsrc%5Etfw">December 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
According to BlackRock, the global economy is undergoing a transformation that could keep shifting the long-term economic trend. They suggest that investors should shift to distinct drivers of risk and return.
&#8220;That creates a wide range of potential outcomes and a need to use scenarios to guide portfolio construction, we think. Government bonds have become a less reliable cushion against risk asset selloffs in this new regime. So investors should consider new diversifiers like gold and bitcoin – not to replace bonds, but to get exposure to distinct drivers of risk and return.&#8221;
&#8220;We see the AI buildout and adoption creating opportunities across sectors,&#8221; BlackRock&#8217;s note added.
&#8220;Overall, with so much uncertainty around tariffs and inflation, bond market volatility is unlikely to fade anytime soon,&#8221; said JPMorgan in their note.
&#8220;The week's economic data releases appeared to be enough for markets to solidify expectations for a rate cut at the upcoming Federal Reserve meeting,&#8221; said T Rowe Price in their weekly note.
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures" target="_blank" rel="noreferrer noopener">How To Trade Futures</a>
Upcoming Economic Data
Important data is slated to be released this week that will help investors determine the future course of action.
<ul>
<li>On Wednesday, housing starts, and building permit data for November will be announced at 8:30 a.m., ET.</li>
<li>The FOMC&#8217;s interest rate decision will be announced at 2:00 p.m., ET, and the Fed Chair Jerome Powell&#8217;s press conference will begin at 2:30 p.m., ET.</li>
</ul>
Stocks In Focus:
<ul>
<li>Parazero Technologies Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRZO#NASDAQ">PRZO</a>) was up 71.24% in premarket trading after it regained Nasdaq compliance.</li>
<li>Nukkleus Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUKK#NASDAQ">NUKK</a>) gained 45.37% after the company announced it acquired a 51% controlling stake in Star 26 Capital.</li>
<li>Corvus Pharmaceuticals Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRVS#NASDAQ">CRVS</a>) rose 17.73% in premarket after it said that it would report interim data from its Phase 1 clinical trial evaluating Soquelitinib in patients with moderate to severe atopic dermatitis, on Dec. 18.</li>
<li>Applied DNA Sciences, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APDN#NASDAQ">APDN</a>) fell 13.04% in pre-market trading after reporting weak quarterly sales.</li>
<li>Quantum Computing Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QUBT#NASDAQ">QUBT</a>) was up 13.28% after it received a NASA contract doe Goddard Space Flight Center to use its entropy quantum optimization machine to help the space agency&#8217;s imaging.</li>
<li>Investors are awaiting earnings results from General Mills, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>), Jabil Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JBL#NYSE">JBL</a>, )) and Micron Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) today.</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures were lower in the early New York session by 0.03% to hover around $70.08 per barrel.
The gold spot index rose by 0.08% to $2,664.21 per ounce. The dollar index was up 0.04% to 106.997 level.
Asian markets were mixed on Wednesday, as Hong Kong&#8217;s Hang Seng, China&#8217;s CSI 300, and South Korea&#8217;s Kospi index advanced. Whereas, Japan&#8217;s Nikkei 225, India&#8217;s S&amp;P BSE Sensex, and Australia&#8217;s ASX 200 index declined. Most European markets advanced.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/market-summary/24/12/42548385/fund-managers-increase-allocation-to-banking-and-insurance-stocks-in-december-here-are-the-best-performing-financial-stocks-in-2024">Fund Managers Increase Allocation To Banking And Insurance Stocks In December: Here Are The Best Performing Financial Stocks In 2024</a></li>
</ul>
Photo courtesy: Wikimedia

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Press Releases

Donna Kelce and the Pillsbury Doughboy Crown the 52nd Pillsbury Bake-Off™ Contest Winners with Festive Debut of Holiday Recipes

General Mills Quarterly Dividend Declared

REESE'S PUFFS Cereal and All-Star Angel Reese Expand Partnership with KidSuper Collab

General Mills to Webcast Fiscal 2025 Second Quarter Earnings Results on December 18, 2024

Totino's™ Pizza Rolls™ Announces Big Game Ad Debut as General Mills Returns to Football's Biggest Night After More Than a Decade

General Mills Expands Protein Product Lineup with Launch of Cheerios Protein

The Kelces and the Watts Star in "Game Day" by General Mills, a New Campaign Inspired by the Superstitions That Bind Fans All Season

General Mills Reports Fiscal 2025 Second-Quarter Results and Updates Full-Year Outlook

General Mills Completes Acquisition of Whitebridge Pet Brands' North American Premium Cat Feeding and Pet Treating Business

Soup You Can Suck On: Introducing Progresso Soup Drops, the Ultimate Cold and Flu Season Comfort

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