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Two Huge U.S. Companies Just Revealed Rotten Earnings Reports

(Image source: Bloomberg via Getty Images)

A pair of American economic heavyweights announced earnings reports Wednesday morning.

Neither one was what investors wanted to see.

General Mills saw quarterly profits tank 37 percent in the second quarter, dragging the company's net income down to $346.1 million, or 56 cents per share, in the second quarter ending Nov. 23.

That's down from $549.9 million, or 84 cents per share, this time last year.

(Image source: Bloomberg via Getty Images) (Image source: Bloomberg via Getty Images)

FedEx, on the other hand, saw earnings increase 36 percent over the second quarter to $2.14 per share — but the shipping titan missed its target of $2.25 per share.

(Image via Getty Images) (Image source: Getty Images)

The market reacted negatively to the miss, with FedEx shares down more than 4 percent in pre-market trading.

Image via Google Finance Image via Google Finance

Other earnings reports expected today include those of Apogee and Oracle.

Follow Zach Noble (@thezachnoble) on Twitter

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