This morning, leading processed and packaged foods manufacturer General Mills Inc (NYSE:GIS) is coming under selling pressure after reporting earnings. Today, the stock is trading lower by $2.17 to 51.01 a share. General Mills Inc reported lower-than-expected quarterly profit and revenue. Last week, the company announced that it would buy organic food producer Annie's Inc for about $820 million to boost their presence in the organic food market. Traders and investors should watch for intra-day chart support around the $50.10 level. This level was major support in late July 2014 and is likely to be support again when retested. Traders should expect an intra-day bounce around this level.
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