Kellogg (K) cuts its outlook for FY12 as it realizes a worse-than-anticipated Q1 after seeing "significant" challenges in Europe and in some U.S. categories. The company expects that full-year internal net sales will increase at a rate between 2%-3%, leading to EPS to fall in a range of $3.18 to $3.30 a share - compared to the consensus mark of analysts calling for $3.48.
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