General Mills Down 3.5% on Lower Guidance

General Mills

is trading lower on the session following its announcement that the U.S. volume weakness will affect its third quarter results. The company now sees Q3 EPS of $0.54 -$0.56 and 2012 EPS of $2.53-2.55. General Mills is a consumer staples stock, which differentiates it from other consumer stocks, such as, Tiffany

that have lowered their guidance this year. The lower guidance by GIS could implythat the U.S. consumers are starting to spend more on eating out rather than basic food items. The shares of General Mills are currently trading $38.38, a gain of $1.40 or 3.52%.