It isn't selling for too much higher than its 52 week low?? The mean of the 52 week high/low is $59.19. The closing price as for today (56.02) is only about 5% off that, which is significantly better than most other companies.
A 5-10% pop is a bit high for such a steady stock. The question you're raising is certainly valid in that GIS isn't trading significantly higher than the 52wk low. However, if you review the last several years, you can see that the recession barely reduced the actual price of GIS... Long story made short is that GIS was "recession proof" ENOUGH to avoid being on the receiving end of any serious haircuts, instead, it just plowed through and continued the slow, steady climb upwards. That's my opinion and really the historical data is the no BS on my view.
It was hardly a big miss. I think it's important not to focus on a single number but take a look at the big picture trend. GIS is clearly a company that is recession-proof. I expect the earnings tomorrow to be quite good.