News Summary

Shares of Honda Motor Co HMC fell about 0.6% after the company projects a 63.5% drop in its profit for the current fiscal year. Honda expects a profit of 195 billion yen ($2.4 billion) for the current fiscal year, down from 534 billion yen in the last fiscal year. However, analysts expected a profit of Y385.43 billion for the year. Honda now expects sales to drop 7.1% on year to 8.3 trillion yen ($104 billion) for the current fiscal year. It projects operating profit to drop 65% to Y200 billion from Y569.78 billion. Honda expects its global vehicles sales to decline to 3.30 million vehicles this fiscal year from 3.51 million vehicles in the earlier year. Honda's earnings estimates are based on the dollar at Y80 and the euro at Y110, versus Y86 and Y114 respectively in the previous fiscal year. Shares of FactSet Research Systems Inc FDS fell about 4% after the company reported a 12% rise in its third-quarter profit. FactSet Research's profit surged to $43.3 million, or $0.92 per share, from $38.7 million, or $0.81 per share, in the year-earlier period. The company's revenue climbed 15% to $183.7 million. However, analysts were expecting earnings of $0.92 per share on revenue of $183.1 million. FactSet projects Q4 earnings of $0.93 to $0.95 per share, versus analysts' estimates of $0.95 per share. Shares of General Mills Inc GIS gained about 0.55% after the company affirmed its sales and earnings forecast for fiscal 2011. General Mills projects adjusted earnings of $2.46 to $2.48 per share, versus analysts' estimates of $2.48 per share for the year. The company plans to report its results on June 29. Read more from Benzinga's Markets.