Diamonds and Dogs
General Mills (GIS) continues to perform well. The cereal maker is up 3% beating earnings estimates while also raising full-year core sales and profit forecasts, encouraged by higher prices and strong demand for the Cheerios maker's cereals, snack bars and pet food. General Mills continues to struggle with supply chain shortfalls, soaring freight and labor expenses and spiraling costs of packaging material and ingredients such as grains, meat and edible oils.
Adobe is (ADBE) pulling back. Software maker is down 8% following earnings. Adobe beat earnings estimates as revenue rose 9% to $4.26 billion, but then lowered guidance for the year due in part to increase competition from smaller rivals like Canva and Lightricks.
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