Decent action by megacap techs offered bullish support as Microsoft continues to lead this year and remains in a proper buy zone. Meanwhile, Apple, a recent breakout, rallied more than 2% and got extended from its breakout point on the stock market today. The Nasdaq opened mildly lower and fell no more than 0.2%. Read More...
Heard on the Street: Food Stocks Get Cooked as General Mills Disappoints
General Mills was the bearer of bad news for its industry on Wednesday, confirming investor fears that prices are too high and volumes are under pressure. The maker of Cheerios cereal, as well as Yoplait yogurt and Annie’s Mac and Cheese, posted weak results, sending its shares as much as 5% in early trading. Organic sales, which strip out currency and merger impacts, were down 6% from a year earlier last quarter.
The Wall Street Journal•
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