General Mills (GIS):
 Some good news out this morning from the Minnesota-based food company. (Was it all the Honey Nut Cheerios my kids have been gobbling up?) According to a release: 

“In anticipation of meetings with European investors this week, General Mills said today that its current estimates of fiscal 2009 earnings per share (EPS) exceed the company’s most recent guidance of $3.87 to $3.89 excluding certain items.”

The other tidbit in the release that caught my eye:

“General Mills said it would provide specific guidance for its 2010 financial targets on July 1, but the company expressed comfort with the current Reuters mean consensus earnings per share estimate of $4.15 per share for fiscal 2010.”

Obviously I think both these things are good news, and the stock could get (and would deserve) a nice boost in today’s session. But I like this situation anyway. Here's why:

1. It sells quality products, and if average families like mine continue to eat at home rather than dine out, it could play right into its hands. (At least, that’s my big-picture theory.)

2. It trades at what I’d call a reasonable (but not cheap) 13.4 times the current-year estimate.

3. Data shows a big fat insider purchase of 10,000 shares earlier in the year.

4. That dividend sure looks tasty.

McDonald's (MCD):
 Mickey D’s was out with its May comp numbers, and they were up 5.1% during the month. However, I expect some folks' underwear to be in a twist: Its US comps were up 2.8%, and some had higher hopes.

My thoughts:

1. Have you tried the double cheeseburger? It’s awesome. 

2. I still think they are (and will be) the force to be reckoned with in fast food.

3. That said, it may make more sense to be filling up the trough with full-service restaurants. Darden (DRI) is one that’s piquing my interest.

4. If the stock were to come down to the low $50s, I think it would be a big whopper (pun intended) of a buy.

Hey - have a great day!