Nasdaq Drops More Than 100 Points; General Mills Reports Earnings Exceeding Expectations
Written by Emily J. Thompson, Senior Investment Analyst
Source: Benzinga
U.S. Stock Market Performance: U.S. stocks showed mixed results, with the Dow rising 0.68% while the Nasdaq fell 0.52% and the S&P 500 dropped 0.12%. Consumer staples saw a 1.1% increase, contrasting with a 0.7% decline in information technology stocks.
Company Earnings Reports: General Mills reported better-than-expected fiscal Q1 results, with adjusted earnings of 86 cents per share. In contrast, Manchester United's shares fell 6% after mixed financial results, and Paramount Group's shares dropped 12% following an acquisition announcement.
Commodity Market Trends: Oil and gold prices both decreased by 0.3%, while silver and copper fell by 1.4%.
International Market Overview: European shares mostly rose, with the eurozone's STOXX 600 up 0.26%. Asian markets closed mostly higher, although Japan's Nikkei fell by 0.25%.
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Analyst Views on GIS
Wall Street analysts forecast GIS stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for GIS is 52.38 USD with a low forecast of 47.00 USD and a high forecast of 63.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
15 Analyst Rating
4 Buy
9 Hold
2 Sell
Hold
Current: 44.350
Low
47.00
Averages
52.38
High
63.00
Current: 44.350
Low
47.00
Averages
52.38
High
63.00
About GIS
General Mills, Inc. is a global manufacturer and marketer of branded consumer foods. Its segments include North America Retail; International; North America Pet, and North America Foodservice. The North America Retail segment reflects business with a variety of grocery stores, mass merchandisers, membership stores, natural food chains, drug, dollar and discount chains, convenience stores, and e-commerce grocery providers. The International segment consists of retail and foodservice businesses outside the United States and Canada. Its product categories include super-premium ice cream and frozen desserts, meal kits, salty snacks, snack bars, dessert and baking mixes, and shelf-stable vegetables. The North America Pet segment includes pet food products sold in the United States and Canada in national pet superstore chains, e-commerce retailers, and grocery stores. The North America Foodservice segment product categories include ready-to-eat cereals, snacks, and baking mixes.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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