General Mills Initiates FY23 Outlook; Boosts Qtly Dividend 6% - Update

General Mills Cuts FY25 View Despite Q2 Above Market; Stock Drops

Shares of General Mills, Inc. were losing around 6 percent in the pre-market activity on the NYSE after the branded food company on Wednesday trimmed its fiscal 2025 earnings view, and said it sees net sales at the lower end of estimate range, citing increased promotional investment. This was despite reporting higher second-quarter profit and revenues, above market estimates.

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General Mills Reaffirms FY24 Outlook - Update

While reporting financial results for the first quarter on Wednesday, branded food company General Mills, Inc. (GIS) reaffirmed its adjusted earnings growth and organic net sales growth outlook for the full-year 2024.

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General Mills Boosts FY23 Outlook As Q2 Results Top Estimates

Branded food company General Mills reported Tuesday a profit for the second quarter that edged up 1 percent from last year, driven by improved gross margins and 4 percent net sales growth. Both adjusted earnings per share and net sales topped analysts' estimates. The company also raised its adjusted earnings and organic net sales growth guidance for the full-year 2023.

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Spain Unemployment Rises Less Than Forecast

Spain's unemployment increased less than expected in January and also hit the lowest level for the month in 17 years as the economy continued to exhibit robust growth, official data showed on Tuesday. The number of people out of work increased 38,725 in January from the previous month, the labor ministry said.

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European Shares Slide As Trade War Fears Mount

European shares declined on Tuesday as new U.S. tariffs of 10 percent on Chinese imports took effect and China announced retaliatory tariffs and export controls, raising fears of a trade war between the world's two largest economies.

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Asian Shares Pare Early Gains As China Retaliates With Tariffs On US Goods

Asian stocks gave up some early gains but still ended higher on Tuesday as China slapped tariffs on U.S. imports in a rapid response to a 10 percent trade duty imposed by the Trump administration on Chinese goods, which took effect from 00:00 ET today.

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Commodity Currencies Advance After Trump's Tariff Delay

The commodity currencies such as Australia, the New Zealand and the Canadian dollars strengthened against their major currencies in the Asian session on Tuesday, as traders reacted positively to U.S. President Donald Trump's latest decision to delay imposing the planned tariffs on Mexico and Canada after successful negotiations with the respective leaders. The tariffs could have renewed inflation fears, leading the U.S. Fed to keep interest rates on hold for longer.

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Canadian Dollar Advances Against Majors

The Canadian dollar strengthened against other major currencies in the Asian session on Tuesday.

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EURUSD	1.0339	GBPUSD	1.24262	AUDUSD	0.62084
USDJPY	155.329	USDCAD	1.44259	USDCHF	0.90952