Ramish Cheema
2 min read
In This Article:
General Mills, Inc. (NYSE:GIS) is one of the Jim Cramer Warns Viewers About FOMO & Discusses These 19 Stocks.
General Mills, Inc. (NYSE:GIS) is a packaged food company whose shares have dipped by 20.5% to make it one of the worst-performing food stocks in the market. June has seen the firm extend its losses over peers owing to a 5% drop after the firm’s midpoint full-year profit drop guidance of 12.5% was significantly larger than analyst estimates of 4.8%. General Mills, Inc. (NYSE:GIS)’s fiscal fourth-quarter revenue of $4.56 billion also missed analyst estimates of $4.59 billion. The only silver lining was the firm’s 74 cents earnings beating estimates of 71 cents. Cramer shared that General Mills, Inc. (NYSE:GIS) is removing synthetic dyes from its food products:
“. . .General Mills, Nestle, are all taking the dyes out. The synthetic dyes.”
A worker in a production facility packaging arbitrary food products, reflecting the company's commitment to comprehensive production standards.
In his previous comments about General Mills, Inc. (NYSE:GIS), Cramer discussed the earnings and the earnings call:
“Finally, there are the miserable consumer packaged goods plays. Oh my god, they’re so horrible. Today, the once invincible General Mills… put up incredibly weak numbers. The General used to be the most clockwork of the group. Today, the stock slipped over 5%. Amazing. Look, if you listen to management on the conference call, they don’t even sound challenged. It seems like they think it’s business as usual. They chatter on and on about some algorithm that gives them the numbers they want, but they don’t seem to understand that they gotta cut price big time or do some merging in order to make things palatable.”
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READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
