The good news was General Mills upped its dividend by 8% last week. The bad news was General Mills warned that this year may be rough going in part because the Venezuelan bolivar is unstable.
Of course, Venezuela's problems aren't the only issues General Mills is face. The company sees 1% lower volume for the quarter that ended last month. It also sees itself giving back some of the gains it made last year in its retail segment. In a press release, the company said:
"Third-quarter operating profit for the company's U.S. Retail segment is expected to be 10-11 percent below strong year-ago results that grew 13 percent. Total segment operating profit is also expected to be below last year's strong third-quarter level."
CNBC contributor Andrew Busch, editor and publisher of The Busch Update, believes that even though General Mills stock had a 22% run up in the first four months of 2013, it has since traded sideways and may even be a shorting opportunity as it tests a support level.
"Though the pattern has changed overall as though it's been in an uptrend," says Busch, "it recently put in a low below the previous low at $47.85…. I expect the downside to be tested here. I would want to take a shot at selling [General Mills] especially when they miss earnings and give negative forecasts going forward."
CNBC contributor Gina Sanchez, founder of Chantico Global, disagrees with Busch.
"I wouldn't advise selling," says Sanchez. "The outlook for [General Mills] is still quite good. Part of the negative guidance really has to do with the overall industry more than anything to do with GIS (General Mills) in particular."
Despite currency issues and a potential global slowdown, Sanchez sees upside ahead.
"They have great growth prospects, particularly internationally," says Sanchez. "That has enormous potential for GIS and they're a great yield play. This is, and always will be, a defensive stock. I don't think that's changed. We're experiencing some slowness right now. They're going to get through it and they'll be just fine."
To see the full discussion on General Mills with Busch on the technicals and Sanchez on the fundamentals, watch the video above.