$General Mills(GIS.US) rose by eight to nine points. Q4 adjusted EPS of 0.95 beat the expected 0.80, revenue also exceeded expectations, and it set a $30 billion cost-saving target. Both the solid earnings foundation and cost reduction provide reasons for valuation recovery.
$Kraft Heinz(KHC.US) followed with a rise of about six points. On one hand, the packaged food sector was lifted by $General Mills(GIS.US)'s strong earnings report; on the other hand, insider buying also provided support.
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