For investors, there wasn't much to get excited by Halliburton's (HAL) first-quarter results. The company, which is the world's number two oil-services provider, saw its earnings plunge 46% to $206 million, or $0.23 per share.

Then again, this was expected as the company still faces challenges (especially in Latin America). But for investors looking beyond the quarter, Halliburton does offer some promise.

U.S. stock futures fell Monday, indicating that stocks could retreat at the open, as Wall Street remained shaken by SEC the fraud allegations against Goldman Sachs. Investors will focus on more corporate results, including from Citigroup, and await some economic data.

On Friday, Wall Street reeled after hearing the Securities and Exchange Commission brought civil fraud charges against Goldman Sachs Group Inc. (GS) in relation to subprime securities. Goldman defrauded investors, the charges say, by not telling investors material information, specifically that the CDO it was selling had been deliberately constructed out of residential mortgages backed securities ikely to become worthless. Goldman Sachs shares dropped nearly 13% on Friday.

U.S. stock futures advanced slightly Monday morning reacting to a finally approved aid package to debt-stricken Greece, several deal news and rumors and as investors geared up for the the unofficial kick off of first quarter earnings season.

On Sunday, the finance ministers of the 16 eurozone nations agreed on a massive aid package for the heavily indebted Greece, making euro30 billion ($40 billion) in loans available to Greece this year if it requests for the money, while the International Monetary Fund would contribute about another euro10 billion. Greece's borrowing costs immediately dipped Monday. In return, Greece has promised it will get a handle on its debt by instigating deep budget cuts so it can reduce its budget deficit. European shares were generally higher.

Analyst Upgrades

• Wells Fargo upgraded its sector rating on large-cap U.S. banks to market weight from underweight to reflect improving economic data, valuations in the space and reduced concerns of regulatory changes.
• Soleil upgraded Disney (DIS) to buy from hold, citing better ESPN affiliate fee and cruise ship expectations. The firm upped its target price for shares to $42 from $30.
• Baird upgraded Huron (HURN) to outperform from neutral, citing the company's better-than-expected retention efforts of MDs in core segments and continued stabilization in its more cyclical segments. The firm raised its price target to $30 from $27.
• Schlumberger (SLB) was upgraded to strong buy from outperform at Raymond James.
• Dollar General (DG) was upgraded to outperform from market perform at Wells Fargo.
• UDR Inc (UDR) was upgraded to outperform from sector perform at RBC Capital.

Here are some highlights from this past week's earnings coverage on BloggingStocks:

• Apple Inc. (AAPL) posted its highest quarterly revenue ever, easily beating estimates, as iPhone sales doubled.
• Boeing Co. (BA) swung to a larger-than-expected Q4 profit but guidance fell short of analysts' estimates.
• Chevron Corp. (CVX) fell short of analysts' earnings estimates for Q4, sending shares lower.
• Cisco Systems Inc. (CSCO) shares rose after optimistic statements by the CEO ahead of Q2 results.
• Eastman Kodak Co. (EK) shares surged after it beat Q4 expectations by a wide margin and cash flow improved.
• Ford Motor Co. (F) reported its first annual profit in four years due to cost-cutting and improved market share.
• Halliburton Co. (HAL) reported lower Q4 earnings but beat estimates by a penny, and revenue also fell.

Monday morning, Halliburton (HAL) posted lower fourth-quarter earnings that narrowly topped the consensus estimates of analysts polled by Thomson Reuters, due in part to increased activity in North America.

Halliburton, one of the world's largest oilfield service providers, said earnings fell more than 46% from a year ago to $0.28 per share, but that beat the First Call consensus by a penny. Revenues fell about 25% from a year ago to $3.69 billion. The consensus estimate was for $3.63 billion.

U.S. stock futures moved firmly higher Monday morning, pointing to a rebound after a sharp three-day selloff last week. This morning, it seems, bargain hunters moved. Meanwhile, as earnings season kicks into high gear, investors also await housing data due out after the market open.

U.S. stocks skidded on Friday, with the Dow Jones Industrial Average pulling back 2.1%. For the week, the Dow lost 4.1% -- the worst week on a percentage basis since March. Fears that the White House plan to curb bank risk-taking would cut profits helped sour sentiment, as did several earnings report that didn't live up to expectations. The situation in China, with its bank tightening policy, didn't help either.

Halliburton (HAL - option chain) stock is trading lower after the company said Tuesday that reduced activity by major Mexican customer Petroleos Mexicanos will reduce HAL's Q4 EPS by 2 cents. Analysts previously had expected 0.28 EPS from HAL in the fourth quarter. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on HAL.

Wednesday, HAL opened at $29.95. In early trading, the stock hit a high of $30.05 and a low of $29.30. As of 11:10, HAL was trading at $29.76, down $0.70 (-2.3%). The chart for HAL looks neutral and S&P gives HAL a neutral 3 STARS (out of 5) hold ranking.

Analyst upgrades:

• Sierra Wireless (NASDAQ: SWIR) was upgraded at Jefferies to Hold from Underperform following Q3 results. The firm believes the Wavecom acquisition integration is progressing better than expected and finds the valuation attractive at current levels. The firm raised its price target to $10 from $5.
• Boston Properties (NYSE: BXP) was upgraded to Buy from Hold at Deutsche Bank to reflect the company's recapitalization and better-than-expected occupancy. The firm raised its target to $69 from $46.
• Wyndham (NYSE: WYN) was upgraded to Outperform from Market Perform at FBR Capital after the shares sold off following the company's Q3 results. The firm raised its target to $23 from $15.
• Human Genome (NASDAQ: HGSI) was upgraded to Overweight from Neutral at JPMorgan. Target was raised to $25 from $14.
• Urban Outfitters (NASDAQ: URBN) was upgraded to Overweight from Market Weight at Thomas Weisel as they expect a "meaningful sales and earnings improvement in Q4." Target was raised to $39 from $32.
• Methanex (NASDAQ: MEOH) was upgraded to Buy from Neutral at UBS, citing improved methanol demand following the Q3 report. Target was raised to $19.50 from $17.
• Buffalo Wild Wings (NASDAQ: BWLD) was upgraded at Raymond to Market Perform from Underperform.

Analyst upgrades:

• American Express (NYSE:AXP) was upgraded to Market Perform from Underperform at FBR Capital, as the firm sees limited near-term downside in the stock. The firm raised its target price on the shares to $37 from $25.
  
• RBC Capital upgraded Estee Lauder (NYSE:EL) to Outperform from Sector Perform. Target to $44 from $34. UBS upgraded Nestle on expectations the company will begin returning cash to shareholders via buybacks and dividends.
  
• Piper Jaffray raised Dicks Sporting (NYSE:DKS) to Neutral from Underweight following positive channel checks and raised its target on the shares to $28 from $18.
  
• Sohu.com (NASDAQ:SOHU) was upgraded to Neutral from Sell by Pali Capital.
  
• Halliburton (NYSE:HAL) was raised to Buy from Hold by Natixis.
  
• Sunpower (NASDAQ:SPWRA) was upgraded to Neutral from Underperform at Macquarie.
• China Automotive (NASDAQ:CAAS) was upgraded to Buy from Neutral at Merriman.

You can tell the oil market's in rough shape when companies are drilling more to pull in smaller profits. This is the situation in which Halliburton (NYSE: HAL) finds itself, with lower energy prices pushing down the cash that comes through the door.

So, its revenue was up for the most recent quarter, but earnings were down. The $262 million that came to the bottom line is 61% lower than the profit for the same quarter the year before.

We had a lot of big names trading up to new 52 week highs again today. The overall markets were pretty flat, with the DOW closing the day down 0.14%, the NASDAQ closing the day's trading up 0.04%, and the S&P ending the day a bit lower to finish today's trading down 0.28%.

Here are a few of the names that moved higher during the day to set new 52 week highs.

Here are some highlights from last week's earnings coverage from BloggingStocks:

• AK Steel Holding Corp. (NYSE: AKS) posted a smaller-than-expected Q2 net loss as steel prices rise.
• Boston Scientific Corp. (NYSE: BSX) posted a better-than-expected Q2 profit on strong overseas sales.
• Caterpillar Inc. (NYSE: CAT) shares jumped after it beat earnings, missed revenues, and offered guidance.
• DuPont (NYSE: DD) shares declined after it posted a higher-than-expected profit but lower revenue.
• Eaton Corp. (NYSE: ETN) disappointing results were a sign that the bulls are in charge, said Jim Cramer.
• General Electric Co. (NYSE: GE) Q2 earnings and sales declined, dragged down by finance and NBC units.

This morning, oil firm Halliburton (NYSE:HAL) posted second-quarter earnings and a warning about North American natural gas markets. First things first, HAL reported second-quarter earnings of 30 cents per share (excluding a $12-million charge stemming from job cuts). While these results were far worse than the 55 cents per share the company earned a year ago, they still managed to top the consensus estimate by four cents per share. The situation was the same for quarterly revenue, which fell to $3.49 billion (from $4.49 billion a year ago) but still managed to outpace the Street's expectations - which called for $3.41 billion.

"Many experts believe that oil prices are at unsustainably low prices now, and they expect a sharp rise in the commodity price as supply and demand come back into line again," says turnaround expert George Putnam.

In The Turnaround Letter, he suggests, "If oil does begin to rise again, the oilfield service stocks could rebound sharply." Here, he takes a look at large cap plays on a rebound within the oilfield services sector.

"We all know that oil prices have fallen dramatically from their highs in the summer of 2008. But different types of oil-related stocks have reacted quite differently to the price change in the underlying commodity.

"For example, while oil itself has dropped nearly 70% from its 12-month high, the stock of the largest integrated oil company, Exxon-Mobil (NYSE: XOM), is down only 26%, less than the stock market as a whole.