General Mills cuts '12 outlook on weak sales

General Mills cuts '12 outlook on weak sales

Stock Market Predictions

(Global Markets) - General Mills Inc (GIS.N) cut its 2012 outlook on Friday, citing weak sales volume, and its shares fell more than 4 percent.

The maker of Progresso soups and Cheerios cereal said it expected 2012 earnings of $2.53 to $2.55 per share, down from a prior forecast of $2.59 to $2.61.

The company forecast earnings of 54 cents to 56 cents per share for the third quarter ending on February 26.

The company plans to report third-quarter earnings on March 21.

General Mills shares fell 4.2 percent to $38.10 in premarket trading.

(Reporting By Martinne Geller in New York; Editing by Lisa Von Ahn)