General Mills shares are sinking today after the company pre-announced a third-quarter profit that trailed analysts’ estimates. The cereal-giant said this morning profit per share in its Q3 was 61 to 62 cents, versus a Wall Street consensus estimate of 68 cents. The company said sales volumes fell about 1%, hurt by foreign exchange rate fluctuations and food-industry trends in developed markets. TheStreet’s Jim Cramer is backing away from the stock, saying consumers now seek more organic foods.
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