Shares of General Mills Inc. (GIS) jumped 3.2% toward a seven-month high in premarket trading Wednesday, after the consumer-foods company reported fiscal third-quarter profit that rose above expectations, as price increases and cost savings helped offset volume declines. Net income for the quarter to Feb. 25 rose to $670.1 million, or $1.17 a share, from $553.1 million, or 92 cents a share, in the same period a year ago. That beat the FactSet consensus for earnings per share of $1.05. Sales slipped 0.5% to $5.10 billion, but were above the FactSet consensus of $4.97 billion, as sales declined for its pet and international businesses, was flat for North America retail and edged up for North America foodservice. Gross margin improved by one percentage point to 33.5%. For the full fiscal year, the company affirmed its guidance ranges for adjusted EPS growth, excluding the impacts of currency translation, of 4% to 5% and for organic sales growth of between down 1% and flat. The stock has gained 5.4% year to date through Tuesday, while the Consumer Staples Select Sector ETF (XLP) has tacked on 5.2% and the S&P 500 (GIS) has gained 8.6%.