From Barron's 6-4-07: "The explosive growth of emerging markets could help power GE's revenue sharply higher in coming years, leading to even more robust and sustainable gains in the company's earnings, and a share price of around 50, more than 30% above current levels. Within five years Fairfield, Conn.-based GE will get 55% to 60% of its revenue from outside the U.S., compared with 50% now. "Whenever I feel bad about the company, I leave the country," Chairman and CEO Jeffrey Immelt recently told clients and suppliers. "They love us outside the U.S. Yet GE -- and the world -- have changed greatly since the Immelt era began, in ways that make the company far more valuable and suggest the future will be kinder to its stock. No company of its size can change its spots quickly, but GE has made big moves to alter its business mix. Among other things it has sold off slow-growing units like insurance and plastics, and beefed up faster growers such as health care and aerospace." Al Beimfohr, a principal at Knightsbridge Asset Management in Newport Beach, Calif., notes that GE is expected to earn $3.20 a share in 2010, and yields 3%. Apply today's price-earnings multiple to those profits, he says, and add in GE's annual dividend of $1.12 a share, and the shares could be worth a price in the mid-50s in three years. That would represent a total return of 15% a year.

From Barron's 6-4-07: "The Street's newfound appreciation for TV is bullish for Belo (BLC), a venerable Texas media company that owns an attractive group of 19 TV stations, including an affiliate of ABC in Dallas and of CBS in Houston, both the top-ranked stations in their markets. Belo also owns four newspapers, led by the Dallas Morning News. Citigroup Global Markets analyst Eileen Furukawa last week lifted her rating on Belo to Buy from Hold, and boosted her price target on its stock to 25 from 19. Belo's shares, which have been trading around 22, could go as high as 30 if Belo is willing to separate its broadcasting and newspaper divisions."

From Barron's 6-4-07: "Now that the controlling family of Dow Jones has agreed to consider a sale, will the New York Times be next? A sale looks unlikely...but the Times could be worth $35 on a sum-of-the-parts basis...With iron-clad control of the Times, the family has no need to do anything, but given the potential sale of Dow Jones, the Sulzbergers may have to reconsider their options."

From Barron's 6-4-07: "There are three elements of the market's enthusiasm for the shares of global stock exchanges: industry consolidation, electronic trading and the derivatives boom. TSX Group, parent of the Toronto Stock Exchange, is a play on all three. And yet the stock is generally neglected by U.S. investors and trades at an attractive discount to other exchanges. TSX (ticker X.CN or X.TO) has shown impressive earnings growth of more than 30% over the past five years, and its return on equity exceeded 60% last year."

From Barron's 6-4-07: "The telecom-equipment maker's stock popped to a two-year high after The Wall Street Journal reported Avaya is in talks about a possible sale." Could be sold as soon as next week a buyout valued at more than $9 billion, according to a report this afternoon by Light Reading.

From Barron's 6-4-07: A jet lessor in which GE has an 11% stake, says lease rates are rising 5% to 10% a year, and demand for planes "far exceeds" deliveries from manufacturers, whose backlogs stretch out three to five years. In addition, the U.S. airline industry is undergoing a revival. Many carriers are in the black again, but with 40% of the nation's fleet averaging 18 years of age, their upgrade needs are substantial, says Roger King, an airline analyst at CreditSights. He figures that U.S. carriers need to spend $14 billion a year on planes, or $280 billion in the next 20 years, just to keep the fleet's mean age at 12 years. Opportunities for airplane suppliers are "outstanding," he adds.