Shares of General Mills Inc. plunged 9.6% toward a 5-year low in morning trade Wednesday, enough to pace the S&P 500’s decliners, after the consumer foods company reported a fiscal third-quarter profit that beat expectations but slashed its outlook. The stock hit an intraday low of $44.79, the lowest level seen since Feb. 19, 2013. A close at current levels would mark the biggest one-day percentage decline since it shed 11.2% on March 18, 2009, also following fiscal third-quarter results. The stock has now plummeted 24.5% over the past 12 months, while the SPDR Consumer Staples Select Sector ETF has lost 5.4% and the S&P 500 has climbed 15.9%.
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