General Mills Sharply Lower After Q1 Miss

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General Mills, Inc. GIS shares are trading lower by $3.20 (5.8 percent) at $52.18 in Wednesday's session.

The company announced a Q1 EPS miss of 5 cents along with slight sales beat. The company forecasts organic net sales declining 1-2 percent.

After a much lower open, General Mills continued in that direction before it finally found support at $50.40 and staged a rebound. That marks its lowest level since the August 24, 2015, Flash Crash when it bottomed at $47.53. Since reaching that depressed level, it has rallied back to make a new high for the session at $53.22.

At time of writing, it backed off that high and is attempting to remain in the $52.00 handle.

Posted In: TechnicalsIntraday UpdateMoversTrading IdeasGIS
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