A-share morning session (Thursday, June 30, 2022): Overseas markets overnight — U.S. major indices posted mixed results, with the energy sector leading declines.

Adam Crisafulli, analyst at Vital Knowledge, wrote in a report: “The overwhelming majority of investors remain bearish, expecting the S&P 500 to decline further over the coming months.” Megan Horneman, Chief Investment Officer at Verence Capital Advisors, stated: “Markets are struggling to find direction. We’ve seen disappointing data, and investors are now awaiting the next round of quarterly earnings reports—which will provide greater clarity on corporate performance and the extent of economic slowdown.” Market Dynamics At market close, the Dow Jones Industrial Average rose 82.32 points, or 0.27%, to 31,029.31; the Nasdaq Composite fell 3.65 points, or 0.03%, to 11,177.89; and the S&P 500 declined 2.72 points, or 0.07%, to 3,818.83. Among the S&P 500’s 11 sectors, energy led losses—down over 3.4%—while real estate and materials each fell more than 0.7%, and financials and industrials dropped over 0.6%. In contrast, information technology and communication services gained at least 0.2%, consumer staples rose less than 0.5%, and health care edged up under 0.9%. U.S. sector ETFs closed mostly lower on Wednesday: the energy ETF fell ~3.5%—the worst performer—while the global airline ETF declined ~1.5%, regional bank and broader banking ETFs dropped over 0.8%, and the financials ETF fell over 0.5%. Meanwhile, the technology ETF rose 0.2%, the biotech ETF gained over 0.5%, the consumer staples ETF rose over 0.6%, and the healthcare ETF advanced less than 0.9%. Key Stock Performance Major tech stocks posted mixed results: Amazon rose 1.42%, Apple gained 1.30%, Microsoft climbed 1.47%, Tesla fell 1.79%, and Meta rose 2.03%. General Mills’ shares surged 6.35% after reporting fourth-quarter fiscal results (ended May 29), showing revenue growth of 8% to $4.89 billion—exceeding consensus estimates of $4.81 billion—and net income of $822.8 million versus $416.8 million a year earlier. Goldman Sachs rose 1.27% after Bank of America upgraded its stock rating to “Buy,” citing its resilience even amid economic slowdown. Conversely, amid intensifying competition, Bank of America downgraded several chip stocks, which led semiconductor stocks lower: Advanced Micro Devices (AMD) and Micron Technology both fell over 3%, while NVIDIA declined 2.75%. Carnival Corporation plunged 14.13%—leading cruise-line stocks lower—after Morgan Stanley analysts warned its shares could become worthless amid renewed demand shocks. It closed at $8.87. Lindblad Expeditions fell 11.68%, Royal Caribbean Cruises dropped 10.26%, and Norwegian Cruise Line declined 9.33%. Chinese ADRs performed poorly: the NASDAQ Golden Dragon Index fell 0.7% to close at 7,981.

2025 Global & Asia Top 10 Pet Food Companies List Released!

Rank Company Name Country/Region Annual Revenue Key Highlights 1 Mars Petcare United States $29.5 billion Regained global top spot decisively; significant revenue growth driven by integration of premium brands 2 Nestlé Purina Switzerland $22.15 billion Held steady at #2; slight revenue dip year-on-year, but overall scale remains stable 3 Hill’s Pet Nutrition United States $4.613 billion Sustained steady growth; deepened leadership in prescription nutrition niche 4 General Mills United States $2.5 billion Revenue rose steadily; focuses on natural and functional pet food products 5 United Petfood Belgium $1.7 billion Year’s biggest dark horse: jumped sharply from #7 in 2024 to #5 globally; rapid growth in private-label OEM business 6 J.M. Smucker United States $1.63 billion Slight decline in both rank and revenue 7 Diamond Pet Foods United States $1.5 billion Solid supply-chain advantages; firmly anchored in global mid-tier 8 Simmons Pet Food United States $1.25 billion Steady development leveraging raw-material and processing strengths 9 Freshpet United States $1.102 billion Specializes in fresh-meat and fresh-food pet nutrition niche 10 Unicharm Japan $1.01 billion The sole Asian company in the global top 10 Looking across the 2025 Global Top 10 Pet Food Companies list, European and North American firms occupy nearly all positions—indicating extremely high industry concentration. Industry leaders leverage century-old R&D foundations, globally recognized brand portfolios, and omnichannel distribution networks to build formidable, near-insurmountable competitive moats; tiered differentiation is becoming increasingly pronounced. • The biggest story this year is Mars Petcare’s decisive return to the global #1 position. Fueled by sustained acquisitions of premium brands and portfolio expansion, Mars achieved substantial revenue growth in 2025 versus 2024. Notably, the inclusion of premium imported brands such as ORIJEN and ACANA in its reported figures served as the core driver of revenue growth—further confirming that premium, functional pet food remains the central growth engine worldwide. • Nestlé Purina held firm at #2 with $22.15 billion in 2025 revenue—slightly down from 2024—but maintained stable overall scale, remaining a cornerstone of the global pet food industry. Its comprehensive mass-market product lines and mature supply chain continue to anchor its dominance in mainstream global consumer markets. • Hill’s Pet Nutrition ranked third, posting steady growth—revenue rising from $4.483 billion to $4.613 billion—leveraging its specialized expertise and clinical credibility in prescription and therapeutic nutrition to deepen its leadership in high-end niche segments, where profitability continues to lead the category. • General Mills ranked fourth, growing revenue from $2.376 billion to $2.5 billion, reinforcing its foothold in the mass-premium segment through natural-ingredient and functional-treat offerings. • This year’s biggest global dark horse emerged from Europe: Belgium-based United Petfood vaulted from #7 in 2024 to #5 globally on $1.7 billion in revenue. As a leader specializing in private-label manufacturing and customized production, its counter-cyclical growth directly validates the explosive expansion of supermarket private-label pet food and custom-formulated products—and underscores that contract manufacturing and OEM models remain indispensable pillars of the global industry. • Elsewhere, J.M. Smucker saw modest revenue contraction and slipped to sixth place; Diamond Pet Foods, Simmons Pet Food, and Freshpet held steady in the mid-tier—each consolidating market position via distinct advantages: supply-chain strength, fresh-meat/fresh-food specialization, respectively. • Notably, Japan’s Unicharm became the only Asian company to break into the global top 10, ranking tenth with $1.01 billion in revenue—a testament to the high degree of industrialization and branding maturity in Asia’s pet food sector, yet also highlighting the substantial scale gap between Asian players and top-tier Western giants.

General Mills beats fourth-quarter profit and sales estimates

Jul 1, 2026

General Mills exceeded fourth-quarter profit and sales expectations as budget-conscious consumers shifted spending toward pantry staples amid high inflation. Adjusted earnings reached 95 cents per share on $4.61 billion in sales, lifting shares 3%.

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