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General Mills (NYSE:GIS) Stock, Option Chain

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.

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Sage Therapeutics rejects Biogen deal offer; Silvus Technologies considers sale/IPO; Allakos downsizes; MrBeast bids on TikTok.

Deal Dispatch: Sage And Silvus Are Up For Sale, MrBeast Secures $20B For TikTok

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General Mills has finalized its Canadian yogurt business sale to Sodiaal. The company has updated its fiscal 2025 outlook.

Pillsbury Maker General Mills Adjusts Fiscal 2025 Earnings Outlook After Canadian Yogurt Divestiture: Details

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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. 

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

General Mills Inc

<h2 class="wp-block-heading">New On The Block</h2>
<ul>
<li>Sage Therapeutics, Inc. NASDAQ: SAGE) is officially exploring "strategic alternatives" to make shareholders happy. The process includes anything from a possible business combination to a full-on sale. Who&#8217;s interested? That would be Biogen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>), which submitted an unsolicited offer Sage rejected. Cambridge, Massachusetts-based Sage is known for its ZURZUVAE treatment for women with PPD. Goldman Sachs is providing financial advice and Skadden, Arps, Slate, Meagher &amp; Flom LLP oversees legal matters. </li>
<li>Silvus Technologies, a Los Angeles-based mobile telecom owned by TJC, hired Morgan Stanley to explore a sale or initial public offering. TJC could seek a valuation of as much as $5 billion for Silvus, Bloomberg <a href="https://www.bloomberg.com/news/articles/2025-01-30/tjc-is-said-to-weigh-sale-ipo-of-radio-tech-provider-silvus">reported</a> citing sources. TJC, aka The Jordan Company purchased Silvus in December 2019. </li>
<li>Allakos Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALLK#NASDAQ">ALLK</a>) is shutting down its AK006 program, leading to a major downsizing — about 75% of the company will be laid off. The biotech plans to keep around 15 employees to explore strategic alternatives, which CEO Robert Alexander described as "the usual things," according <a href="https://www.fiercebiotech.com/biotech/allakos-axes-program-lays-75-staff-and-seeks-strategic-alternatives-after-phase-1-flop">to</a> Fierce Biotech. The move will significantly deplete Allakos' cash reserves, which stood at $81 million at the end of last year. The company expects to spend $34 million to $38 million on severance and restructuring costs, leaving it with just $35 million to $40 million in reserves by mid-year. The pressure is on to find a new strategic direction quickly.</li>
</ul>
<h2 class="wp-block-heading">Updates From The Block</h2>
<ul>
<li>YouTube star Jimmy Donaldson (aka MrBeast) has secured more than <a href="https://www.benzinga.com/25/01/43325891/backed-by-youtube-king-mrbeast-group-of-american-investors-including-roblox-ceo-lock-in-over-20-billion-for-tiktok-takeover-but-they-have-not-heard-back-directly-from-bytedance">$20 billion</a> for a TikTok offer. An investor group, led by tech entrepreneur Jesse Tinsley, includes Roblox Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>) CEO David Baszucki and Anchorage Digital CEO Nathan McCauley as investors. Tinsley <a href="https://www.bloomberg.com/news/articles/2025-01-29/tiktok-bidders-to-offer-significantly-more-than-20-billion?sref=KkPzpZvz">told</a> Bloomberg that their offer is &#8220;significantly higher&#8221; than a competing $20 billion bid. Whether Tinsley was referring to the <a href="https://www.benzinga.com/general/entertainment/25/01/42834240/kevin-oleary-joins-the-peoples-bid-for-tiktok-as-pending-ban-looms">Project Liberty bid</a> by former Los Angeles Dodgers owner Frank McCourt and &#8220;Shark Tank&#8221; star Kevin O'Leary is unclear. Also uncertain is whether Microsoft was seriously making a bid, <a href="https://www.benzinga.com/25/01/43260646/microsoft-eyes-tiktok-us-deal-as-trump-confirms-acquisition-talks-are-underway">as indicated by President Trump</a>.</li>
</ul>
<ul>
<li>Hewlett Packard Enterprise&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) $14 billion purchase of Juniper Networks (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNPR#NYSE">JNPR</a>) hit a roadblock. The Department of Justice is suing the tech company in what marks the first antitrust action of Trump's second term. The deal would result in Cisco Systems Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) and the combined HPE-Juniper entity controlling 70% of the wireless networking industry, regulators <a href="https://www.wsj.com/politics/policy/justice-department-sues-to-block-hewlett-packard-enterprises-bid-for-juniper-networks-99af47ac?mod=deals_news_article_pos1&amp;utm_source=newsletter&amp;utm_medium=email&amp;utm_campaign=newsletter_axiosprorata&amp;stream=top">said</a>. The merger, which was announced last January, has already received U.K. and EU regulatory approvals. </li>
<li>President Vladimir Putin signed a decree allowing Goldman Sachs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) to sell its Russia subsidiary to Balchug Capital.<a href="https://link.axios.com/click/38421266.59136/aHR0cHM6Ly9heGlvcy5saW5rLzQweWRrelk_dXRtX3NvdXJjZT1uZXdzbGV0dGVyJnV0bV9tZWRpdW09ZW1haWwmdXRtX2NhbXBhaWduPW5ld3NsZXR0ZXJfYXhpb3Nwcm9yYXRhJnN0cmVhbT10b3A/5841ec813f92a47b9bba9e4dBd37e415e" target="_blank" rel="noreferrer noopener"> </a>The deal makes the U.S. bank one of the few Western banks to fully exit the country, Bloomberg <a href="https://www.bloomberg.com/news/articles/2025-01-31/putin-allows-goldman-sachs-to-sell-its-business-in-russia?srnd=phx-deals">reports</a>.</li>
</ul>
<ul>
<li>Nippon Steel (TYO:<a class="ticker" href="https://www.benzinga.com/stock/TYO:5401#TYO">5401</a>) launched a $456 million tender offer for the remainder of its subsidiary Sanyo Special Steel (TYO:<a class="ticker" href="https://www.benzinga.com/stock/TYO:5481#TYO">5481</a>), representing a 37% premium.</li>
</ul>
<ul>
<li>Outbrain Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OB#NASDAQ">OB</a>) <a href="https://www.wsj.com/business/deals/outbrain-teads-1-billion-merger-deal-cleared-by-u-k-antitrust-regulator-dbc95d74?mod=deals_news_article_pos1">received</a> U.K. antitrust approval for its $1-billion acquisition of Dutch digital advertising platform from Altice, according to the Wall Street Journal.</li>
</ul>
<ul>
<li>Welltower Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WELL#NYSE">WELL</a>) <a href="https://welltower.com/investors/press-release-details/?id=27351#xd_co_f=YTg5NDI3NDMtNjI0Yy00MWUzLTllMDctNDQwMjQxZTliMTg3~">acquired</a> NorthStar Healthcare Income, a New York-based real estate investment trust focused on senior housing, for $900 million.</li>
</ul>
<ul>
<li>Emerson Electric Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EMR#NYSE">EMR</a>), an automation technology provider, has agreed to acquire the remaining shares it doesn't own of software supplier AspenTech for $265 per share in an all-cash tender offer. The minority stake being now acquired is <a href="https://www.benzinga.com/news/large-cap/25/01/43229951/emerson-electric-to-buy-out-aspentech-minority-stake-in-7-2-billion-cash-deal">valued at $7.2 billion</a>.</li>
</ul>
<h2 class="wp-block-heading">Off The Block</h2>
<ul>
<li>General Mills Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) completed the $2.1 billion sale of its U.S. and Canadian yogurt units to French dairies Groupe Lactalis and Sodiaal.</li>
</ul>
<h2 class="wp-block-heading">Bankruptcy Block</h2>
<ul>
<li>Spirit Airlines rejected a $400 million merger proposal from Frontier Group Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULCC#NASDAQ">ULCC</a>). The offer wasn&#8217;t high enough, the bankrupt air carrier said. Spirit, considered the biggest U.S. budget airline, filed a Chapter 11 <a href="https://www.benzinga.com/24/11/42032477/spirit-airlines-eyes-financial-stability-with-chapter-11-filing-and-equity-injection">bankruptcy petition in November</a>.</li>
</ul>
For last week&#8217;s <a href="https://www.benzinga.com/news/asset-sales/25/01/43216373/deal-dispatch-lovely-day-to-sell-guinness-plus-23andme-to-rid-lineage-of-lemonaid">Deal Dispatch, click here</a>.
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<li><a href="https://www.benzinga.com/news/econ-s/25/01/43396354/inflation-rises-again-may-be-end-of-the-road-for-interest-rate-cuts-expert-says">Inflation Rises Again: May Be &#8216;End Of The Road&#8217; For Interest Rate Cuts, Expert Says</a></li>
</ul>

Pillsbury maker General Mills, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) has finalized the sale of its <a target="_blank" href="https://www.benzinga.com/pressreleases/25/01/b43253580/general-mills-completes-sale-of-canadian-yogurt-business-and-updates-fiscal-2025-outlook-for-recen" rel="noreferrer noopener">Canadian yogurt division to </a><a target="_blank" href="https://www.benzinga.com/pressreleases/25/01/b43253580/general-mills-completes-sale-of-canadian-yogurt-business-and-updates-fiscal-2025-outlook-for-recen" rel="noreferrer noopener">Sodiaal</a>.
The transaction includes the Canadian operations of well-known yogurt brands such as Yoplait and Liberté, as well as a production facility in Saint-Hyacinthe, Québec.
In September last year, the company signed definitive agreements to sell its North American yogurt business to French dairy companies, Lactalis and Sodiaal, <a href="https://www.benzinga.com/markets/equities/24/09/40836990/general-mills-offloads-us-canadian-yogurt-divisions-in-2-1b-deal-amid-competition-and-market-cha" target="_blank" rel="noreferrer noopener">for a total of $2.1 billion</a>.
General Mills has stated that it expects the sale of its U.S. yogurt business to Lactalis to be finalized in 2025, subject to regulatory approval and other necessary conditions.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/25/01/43249153/mattel-partners-with-ferrari-for-hot-wheels-product-line-after-a-decade" rel="noreferrer noopener">Mattel Partners With Ferrari For First Hot Wheels Product Line In A Decade</a>
After the completion of the Canadian yogurt sale and the North American Whitebridge Pet Brands acquisition, General Mills has updated its<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener"> fiscal 2025 earnings forecast.</a>
The company now anticipates a decline in adjusted diluted earnings per share (EPS) between 4% and 2% in constant currency, a change from the earlier estimate of a 3% to 1% drop.
This revision accounts for the increased interest expenses resulting from the financing of the Whitebridge acquisition.
The closures of these two transactions do not affect the company&#8217;s&nbsp;outlook&nbsp;for fiscal 2025 organic net sales growth and did not have a material impact on the outlook&nbsp;for constant-currency adjusted operating <a target="_blank" href="https://www.benzinga.com/news/earnings/24/12/42552249/general-mills-beats-on-q2-earnings-stock-slumps-on-lackluster-outlook" rel="noreferrer noopener">profit growth and free cash flow conversion.</a>
Price Action: GIS shares closed higher by 2.09% at $61.64 on Monday.
Read Next:
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<li><a href="https://www.benzinga.com/25/01/43246437/bloomin-brands-faces-uphill-battle-says-analyst" target="_blank" rel="noreferrer noopener">Bloomin&#8217; Brands Faces Near-Term Pressure, Analyst Highlights Peer Brinker&#8217;s Turnaround Roadmap</a></li>
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General Mills updated its full-year fiscal 2025 outlook for adjusted EPS growth to reflect the impact of the recent closures of the North American Whitebridge Pet Brands acquisition and the Canada Yogurt divestiture.
The closures of these two transactions do not affect the company's outlook for fiscal 2025 organic net sales growth and did not have a material impact on the company's outlook for fiscal 2025 constant-currency adjusted operating profit growth and free cash flow conversion.

Asset Sales

General Mills Completes Sale Of Its Canadian Yogurt Business; Revises FY25 Adjusted EPS Outlook To Down 4% - Down 2% In Constant Currency Vs Previous Range Of Down 3% - Down 1% In CC

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 $78 to $72.

Price Target

Analyst Ratings

Stifel Maintains Buy on General Mills, Lowers Price Target to $72

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.

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.

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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FedEx To Rally More Than 33%? Here Are 10 Top Analyst Forecasts For Friday

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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Photo: Shutterstock

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Select Sector SPDR-Consumer Discretionary

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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Eurozone

Commodities

Intraday Update

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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.
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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.
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