FREIGHT COSTS CUT INTO GENERAL MILLS’ PROFITS
General Mills’ fiscal third-quarter profits results were hurt by rising freight and commodity costs. The maker of Cheerios cereal and Yoplait yogurt lowered its full-year earnings outlook, causing its stock to plunge nearly 9% Wednesday, its worst one-day drop since 2009, according to FactSet. Adjusted earnings came to 79 cents a share, in line with analysts’ forecasts.