Markets

Shares of General Mills tumbled 7 percent Tuesday after the Cheerios maker slashed its full-year sales and profit outlook, blaming stubborn inflation and a “challenging” consumer backdrop for squeezing volumes.

The Philippine Stock Exchange index (PSEi) slid 1.3 percent to 6,384.58, extending profit-taking for a second session after touching seven- to nine-month highs. Even so, the benchmark remains comfortably above the 6,000 mark, keeping the broader uptrend intact and suggesting the pullback is more consolidation than reversal.

Barbie wasn’t in the mood to celebrate — even if Ken showed up with Hot Wheels and the Teenage Mutant Ninja Turtles. Investors weren’t feeling festive either.

Global markets are taking a step back—not because of panic, but caution. Investors are reducing risk as they navigate uncertainty around inflation, interest rates, and global tensions. 

Qualcomm shares fell Thursday as investors reacted to warnings that industry-wide memory supply constraints are hurting the company’s near-term handset outlook, overshadowing record quarterly revenue and a confident long-term strategy.