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U.S. Stocks Open Higher; General Mills Reports Higher Profits

U.S. markets opened higher Thursday as markets continue to digest the Federal Reserve interest rate hike and look at corporate earnings.
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U.S. markets opened higher Thursday as markets continue to digest the Federal Reserve interest rate hike and look at corporate earnings. General Mills (GIS) says its profits were higher but it was on cost cuts not on increased sales. The maker of Cheerios and Betty Crocker cake mixes said sales will be lower this year as well. The food company has closed factories and cut jobs in recent years as it transitions for a consumer who is more interested in fresh and natural foods and not pre-packaged goods. Rite Aid (RAD) is seeing higher sales. It attributes the increase to a new initiative on health and wellness items. The third-largest drugstore chain agreed to merge with number one Walgreens Boots Alliance in a $17.2 billion deal struck in late October. Accordingly, on Thursday, Rite Aid said it wouldn't provide 2016 guidance.