General Mills slides, Bed Bath and Beyond sinks, gun stocks fall

Here’s a look at some of the stocks the Yahoo Finance team will be tracking for you today.

Earnings are rolling in and not looking so good. General Mills (GIS) shares got crushed in early trading after missing on both the top and bottom lines for the first quarter. Profit and revenue fell from a year ago due to lower sales of cereals and yogurts in North America. The maker of Cheerios also confirmed that it’s still expecting a weak outlook for the coming year. General Mills has lost over a tenth of its market share this year despite some of its consumer staples performing well.

Bed Bath and Beyond (BBBY) shares sank in early trading. The home goods retailer cut its outlook for the year after second-quarter earnings and revenue came in below analysts’ estimates, while same-store sales fell nearly four times as much as expected. The retailer blamed restructuring costs, Hurricane Harvey and a new accounting standard for the weak quarter. In its earnings call late Tuesday, the CEO said Bed Bath and Beyond is pivoting to expand online and launch projects that focus on customer and inventory needs.

FedEx (FDX) is under pressure in early trading today. The shipping giant lowered its 2018 earnings guidance to account for the TNT Express cyberattack that it was “significantly affected” by and Hurricane Harvey. Earnings per share and revenue for last quarter also came in below expectations.

American Outdoor Brands (AOBC), formerly Smith and Wesson, and Strum Ruger (RGR) shares are giving back some of Tuesday’s big gains. Gun stocks soared late yesterday following news that the Trump administration is planning to make it easier for US gun makers to sell small arms to foreigners.

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