General Mills Down 4% on Weak Sales

General Mills Down 4% on Weak Sales

Megan Higgins, assistant director of client services at Adviser Investments, has the market analysis for Wednesday, June 26. Major U.S. indexes saw minimal movement and closed with mixed results. The Dow Jones Industrial Average and S&P 500 both fell 0.1% while the NASDAQ Composite rose 0.4%. Energy stocks saw the S&P’s largest percentage gain as a sector in response to a nearly 3% rise in crude oil prices: Hess and ConocoPhillips both surged 5% and EOG Resources climbed 3%. In contrast, General Mills’ stock dropped nearly 4% after the cereal manufacturer reported weak fourth-quarter revenue because of decreasing U.S. demand for snack foods.

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