General Mills (GIS):
 Forget cereal -- I think the company should start selling butter because they’re on a roll. (Wow.)

The other day, I pointed out that the company announced a dividend bump-up. This morning, it was out with some wholesome fourth-quarter-earnings numbers.

It put up $0.86 a share, excluding items -- that was a nickel north of expectations. To boot, it indicated that for fiscal 2010, it’s looking for earnings of $4.20 to $4.25. Not too shabby, given the estimate I’m seeing is for $4.18.

Some thoughts:

1. I like the knockout blow coming from the beat and the positive outlook. Both should draw plenty of eyes in early trading.

2. I remain a full-fledged bull on the stock. In fact, my big-picture outlook is consistent with what I said in my article yesterday.

3. Part of me wonders what will happen next week with all of this news in the rear-view mirror. I suspect some air could be let out of this balloon.

Gannett (GCI):
 In one sense, the newspaper company deserves kudos: Despite the Internet’s popularity, the shoddy economy, and the frugality of consumers, it’s still trucking. But things could certainly be better.

1. There’s talk in the press that some layoffs could be on the horizon.

2. The shares trade under $5 and for that reason, are likely to remain off many investors' radar screens.

3. The advertising environment isn’t buff by any means.

4. There are free papers and so many Internet sources out there that it’s hard to see how print will ultimately make it.

I can't imagine where things are going from here. But maybe I'm the big dummy: Data shows an insider coughed up some pretty big coin to buy 20,000 shares in April. I doubt he did that for fun. I’d also remind you that excluding items, Gannett beat expectations -- albeit, by only a penny -- in its first quarter.

Maybe it does have some life left to live.

Keep an eye peeled -- the second-quarter-earnings call is set to happen in mid July.

Have a great day!