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General Mills Inc. (GIS) Dropped To Over A 3-Month Low On Guidance News

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General Mills Inc. (GIS: Quote) announced Friday morning that it now expects to report third quarter adjusted EPS of $0.54 to $0.56, compared to the $0.56 reported in the prior year period. The company also reduced its full year 2012 adjusted EPS forecast to between $2.53 and $2.55, from prior expectations of $2.59 to $2.61. The consensus estimates are for EPS of $0.60 and $2.60 respectively.

General Mills gapped open lower Friday and declined during the first half of the morning. The stock closed down by 1.44 at $38.34, with volume at nearly a 5-month high. General Mills dropped to over a 2 1/2 month low and fell below its 200-day moving average.

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by RTT Staff Writer

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