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Dough Rises at General Mills
Updated from 6:07 a.m. EDT
Fiscal fourth-quarter earnings at General Mills(GIS Quote), the maker of Cheerios cereal and Pillsbury bread and cake mixes, soared 94% as the company recorded a large mark-to-market valuation gain and the tax rate in the quarter was lower.
General Mills earned $358.8 million, of $1.07 a share, in the quarter, compared with $185.2 million, or 53 cents a share, a year earlier.
On an adjusted basis, earnings were 86 cents a share vs. 73 cents in the year-earlier period. ...
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