Stocks in the news: General Mills, Citigroup, Microsoft, Ford
The following post rounds up the companies making headlines today:
General Mills (GIS) reported fiscal fourth-quarter this morning, posting nearly double the profit as consumers flocked toward the food maker's well-known brands such as Cheerios and Yoplait and sales rose 5 percent. The company beat bottom line estimates, although missed a bit on the sales figure. GIS gained nearly 2 percent ahead of the bell.
Citigroup (C) is selling NikkoCiti Trust and Banking Corp. to Nomura Trust and Banking Co. for 19 billion yen ($196 million) as the U.S. financial group scales back its Japan business. The deal is expected to close in October if all regulatory conditions are met. Meanwhile, Citi could again incur the public's wrath after the Financial Times reported it has increased interest rates on up to 15 million U.S. credit card accounts just months before curbs on such rises come into effect. Citi shares were up about a percent in pre-market trade.