Kellogg Company (NYSE: K) didn't need a hearty breakfast to get its stock going today (although I'm sure it had one anyway). All it needed was a reasonably healthy earnings report. Judging by how the stock is performing, I think the company got one.

For the third quarter, Kellogg saw flat sales growth. However, take out currency effects and acquisitions, and you've got a 3% expansion rate on the top line. Well, that isn't so robust, either, but let's head to the bottom line. Earnings per share came in at 94 cents, representative of a 6% increase. Not so bad, and according to Mark Fightmaster's preview, that was a dime better than what analysts wanted to see.

One of my wonderful friends, Ms. P, asked me for some guidance on how she might allocate $50,000 currently earning peanuts in a money market account. Though she is decades from becoming a grandmother, after a brief discussion about her financial parameters, it became clear to me that she was looking for a "granny fund."

In reality, my recommendations would be suitable, and perhaps desirable, for many passive investors as well.

The $50,000 is a portion of money Ms. P has set aside to purchase a home, which might happen in six months, but could also be pushed out further, depending on the economy and her situation. Basically, she wants to cover all her bases because she might need the money at any time and does not want to be caught short, while at the same time she would like to generate some revenue without taking any big risks.

Shares of Del Monte (NYSE: DLM) are up over 9% in early afternoon trading. And the volume is doing gangbusters business. The market is responding to the company's fourth-quarter results. The numbers did tell an overall fun story.

To begin with, revenues saw a big jump of 20%. As many news items have pointed out, price increases helped out. It should also be pointed out that the company's press release indicated that an extra week skewed things a bit. That's okay, though, it was still a good top-line performance. Earnings per share from continuing divisions came in at $0.35, which meant that Del Monte grew the bottom line by 75% (a couple elements affecting the perception of this profit expansion was a better tax situation linked to a positive change in California tax code and a $0.04 per-share transformation expense recorded in Q4 2008). Analysts said the company might earn $0.26 per share. That's a pleasant difference, isn't it?

Supermarket staple ConAgra Foods (NYSE: CAG) reported earnings for the third quarter on Thursday. Wall Street was bullish on the company since the bottom-line performance beat the expectations of analysts. Shares of the stock closed up over 9% at the end of yesterday's trading session.

Sales increased slightly over 6% and net income came in at 40 cents per diluted share on an adjusted basis. That was good for an 18% growth rate on the bottom line. Market analysts were only counting on 36 cents per share. So, you can see why the market was excited.

General Mills (NYSE: GIS), a cereal manufacturer whose colleagues at the supermarket include Kellogg (NYSE: K), Kraft (NYSE: KFT), and Campbell Soup (NYSE: CPB), is all set to report earnings on Wednesday, March 18. This will be for the third quarter, and according to the following source, analysts are expecting $0.88 per share. It won't be an impressive performance if General Mills merely meets expectations. In the previous year's Q3, the company did $0.87 per share. Obviously, $0.88 wouldn't be much in terms of growth.

Campbell Soup (NYSE: CPB) reported earnings for the second quarter, and while they weren't that great in terms of growth, they did beat Wall Street expectations. The bottom line came in at an adjusted 65 cents per share from continuing operations. Analysts were expecting 64 cents per share. I know, a one-penny beat isn't necessarily something to crow about, especially when Campbell grew income from continuing operations by only a single penny on a year-over-year basis. In this market, though, this is the stuff of dreams.

In fact, I bet Campbell's shares would have been higher on the news if it wasn't for the fact that the Dow is getting closer and closer to the 7,000 mark (and, please don't worry, we'll see a Dow reading that begins with a 6 before you can scream sell!).

Kraft (NYSE: KFT), a brand that shares the supermarket aisles with General Mills (NYSE: GIS), Kellogg (NYSE: K), Campbell Soup (NYSE: CPB) and ConAgra Foods (NYSE: CAG), was hammered on Wednesday.

The company's shares were down over 9% at the close of trading. Kraft's earnings release may have began with a headline that said earnings were strong for the year, but the market thought otherwise. And so did I.

Kraft (NYSE: KFT), whose supermarket colleagues include Kellogg (NYSE: K) and General Mills (NYSE: GIS), will be reporting Q4 results tomorrow. Analysts expect the foodstuffs company to report $0.44 per share. Unfortunately, Kraft did $0.44 per share in the year-ago period. So the market doesn't think Kraft will grow the bottom line.

Perhaps that will work in Kraft's favor. With expectations so low, management has the opportunity to surprise to the upside. The company has a decent record in beating Wall Street expectations. Kraft certainly has brands that people like. However, things are becoming more difficult for the consumer. Layoffs are everywhere, and job security has taken a sabbatical. Kraft needs to convince people to pay extra for a package of Kraft-branded cheese or a box of Nabisco Ritz crackers when there are less-expensive generic substitutes available.