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

• Advance Auto Parts Inc. (AAP) was downgraded due to concerns about its 2010 earnings outlook.
• Analogic Corp. (ALOG) received an analyst's downgrade after it reported weaker-than-expected earnings.
• AutoZone Inc. (AZO) strong Q1 results beat earnings expectations, but shares rose only a little.
• BWAY Holding Co. (BWY) received an analyst's upgrade following release of its Q4 results.
• Casey's General Stores Inc. (CASY) topped Q2 earnings estimates but lower revenue fell short.
• Ciena Corp. (CIEN) shares plummeted after it fell short of its earnings expectations for Q4.

Hog producer Smithfield Foods (SFD) reported weak second-quarter results Thursday as live hog prices plummeted because of lower export demand, especially from China. The company said weak prices and squeezed margins offset improvements in its pork and packaged-meat businesses.

Smithfield said it lost $26.4 million, or an adjusted 26 cents per share, for the quarter. Sales fell 15% form a year ago to $2.69 billion. Analysts surveyed by Thomson Reuters had expected a loss of 39 cents per share on revenue of $2.71 billion.

Smithfield Foods (SFD - option chain) shares are rising today in anticipation of the company's second quarter earnings report tomorrow morning before the markets open. Analysts are expecting the company to report a loss of 39 cents per share on revenue of $2.71 billion, compared to a loss of 21 cents per share on revenue of $3.15 billion in the year-ago period. If you think that the stock won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on SFD.

SFD opened this morning at $16.94. So far today the stock has hit a low of $16.83 and a high of $17.27. As of 12:05, SFD is trading at $16.86 up 18 cents (1.1%). The chart for SFD looks bearish and S&P gives SFD a negative 2 STARS (out of 5) sell ranking.

Pigs at the Minnesota state fair have tested positive for the H1N1 "swine" flu virus in preliminary tests.

Confirmation tests are pending, but this could be bad news and cause panic within the pork industry. Pork belly futures and companies like Smithfield Foods (NYSE: SFD), Tyson (NYSE: TSN), and Hormel (NYSE: HRL) are a few that could be affected.

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

• Best Buy Inc. (NYSE: BBY) was downgraded by one analyst ahead of next week's Q2 earnings report.
• Campbell Soup Co. (NYSE: CPB) better-than-expected Q4 and full-year profit failed to impact the share price.
• FedEx Corp. (NYSE: FDX) boosted its Q1 earnings guidance ahead of next week's quarterly report.
• JoS. A. Bank Clothiers Inc. (NASDAQ: JOSB) saw its Q2 earnings jump higher than expected.
• Korn/Ferry International (NYSE: KFY) swung to a Q1 net loss as revenue plunged despite cost cuts.
• lululemon athletica inc. (NASDAQ: LULU) strong Q2 numbers topped estimates and drove shares higher.

Today was a strange post-holiday session as US markets really just keyed off of a weak dollar and higher commodity prices. $70+ on oil and $1,000+ gold were a highlight, but all in all this was merely the U.S. playing catch-up on gains after we had an extra day off.

Here were today's unofficial closing bell figures:

Dow 9,497.34 +56.07 (0.59%)
S&P 500 1,025.37 +8.97 (0.88%)
Nasdaq 2,037.77 +18.99 (0.94%)

Top Analyst Upgrades
Top Analyst Downgrades
Top Day Trader Alerts

Pork producer Smithfield Foods (NYSE: SFD) confessed Tuesday morning to a first-quarter loss of $107.7 million, or 75 cents per share, notably worse than its year-ago loss of just $13.2 million, or 10 cents per share. Excluding one-time charges, SFD would have swallowed a loss of 56 cents per share for the recently concluded quarter. Revenue for the period fell by more than 13% to $2.72 billion.

Both figures fell short of analysts' expectations, which called for a loss of 53 cents per share on $2.82 billion in revenue. Thanks to the twin factors of the recession and the still-spreading H1N1 virus -- a.k.a. the "swine flu" -- Chief Executive Larry Pope said, "I feel like the world has been against us for 12 months." (While H1N1 cannot be contracted by consuming pork products, the pork industry has suffered nevertheless by association.)

Analyst upgrades:

• Goldman upgraded Gerdau AmeriSteel (NYSE: GNA) to Buy from Neutral and has a $5.50 target on shares. Shares were upgraded due to the potential impact from infrastructure spending. Note that Goldman downgraded Steel Dynamics (NYSE: STLD) and Olympic Steel (NYSE: ZEUS) to Neutral from Buy.
  
• Banc of America/Merrill upgraded Coca-Cola Enterprises (NYSE: CCE) to Buy from Neutral and raised the price target to $18 from $15. The firm the strong Q1 report gives them greater confidence in shares.
  
• Roth Capital upgraded Halozyme (NASDAQ: HALO) to Buy from Hold due to increased clarity into Roche programs, the discontinuation of the chemophase program, and progress on insulin delivery.
• American Movil (NYSE: AMX) was raised to Overweight from Neutral at JP Morgan and to Hold from Sell at Citigroup.
  
• Barclays (NYSE: BCS) and Lloyds TSB Group (NYSE: LYG) were upgraded at HSBC to Overweight from Neutral.

I remember Toronto during SARS. As one of the harder hit areas, it was not a happy place. It was the end of winter, but that miserable, cold winter just didn't want to end. People walked the streets in a gloomy haze, afraid to take the subway and giving dirty looks to anyone brazen enough to cough in public. Worse, I couldn't even visit a friend in the hospital. All things considered though, in global pandemic terms, it was over relatively quickly. Let's hope swine flu will be the same.

In the meantime, let's put on our investors hats and see what's in store for some stocks:

Travel and tourist stocks
This is one of the worst hit areas, especially airlines, as people may cancel their travel plans. For example, AMR Corp. (NYSE: AMR) traded over 9 percent lower an hour after the open. Royal Caribbean Cruises (NYSE: RCL) was down over 15 percent. In fact UBS downgraded these airlines and hotels this morning: AMR, Continental Airlines (NYSE: CAL), Host Hotels and Resorts (NYSE: HST), Lasalle Hotel Properties (NYSE: LHO), Marriott (NYSE: MAR), United Airlines (NASDAQ: UAUA), US Airways (NYSE: LCC). Carnival Cruise Lines (NYSE: CCL) also declined considerably. Best to stay away from the sector.

Telmex (NYSE: TMX) is expected to report Q1 EPS today. TMX May option implied volatility of 43 is below its 26-week average of 50, according to Track Data, suggesting decreasing price movement.

Smithfield Foods (NYSE: SFD) closed at $10.32. SFD says it found no evidence of swine influenza at its Mexican joint ventures. SFD May option implied volatility of 102 is below its 26-week average of 112, according to Track Data, suggesting decreasing price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

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

• Aeropostale Inc. (NYSE: ARO) reported strong Q4 numbers as same-store sales increased.
• American Eagle Outfitters Inc. (NYSE: AEO) same-store sales fell in Q4 but earnings met expectations.
• ArcSight Inc. (NASDAQ: ARST) continued its growth in Q3 and it forecast continued growth.
• Buckle Inc. (NYSE: BKE) posted a better-than-expected Q4 profit and continued same-store sales growth.
• Citigroup Inc. (NYSE: C) CEO said in a memo that it earned a profit in the first two months of this quarter.
• Dick's Sporting Goods Inc. (NYSE: DKS) beat Q4 earnings estimates but same-store sales fell.

Analyst upgrades:

• Bernstein upgraded Merck (NYSE: MRK) to Outperform from Market Perform and raised its target to $30 from $27 citing valuation and its decision to buy Schering-Plough, at what appears to be a reasonable price.
  
• RBC Capital upgraded Palm (NASDAQ: PALM) to Outperform from Sector Perform and raised its target to $12 from $5 as it believes webOS has increased its chances for Smartphone leadership and will increase its attractiveness as an acquisition target.
  
• RW Baird upgraded Alcatel-Lucent (NYSE: ALU) to Outperform from Neutral on valuation as it believes balance sheet risks are overly discounted in the stock, creating a buying opportunity. The firm has a $3 target on shares.
• Express Scripts (NASDAQ: ESRX) was raised to Buy from Hold at Argus.
  
• France Telecom (NYSE: FTE) was upgraded at Morgan Stanley to Equal Weight from Underweight.
  
• Foster Wheeler (NASDAQ: FWLT) was upgraded to Conviction Buy from Neutral at Goldman.

Analyst upgrades:

• UBS upgraded Dollar Tree (NASDAQ: DLTR) to Buy from Neutral but lowered its target to $42 from $45 following the solid Q4 report. The firm expects Dollar Tree's cost containment to continue. JP Morgan upgraded shares to Overweight from Neutral on valuation as it believes the recent pullback is overdone and the company set achievable FY09 guidance. The firm has a $43 target on the stock.
  
• JP Morgan also upgraded Smithfield Foods (NYSE: SFD) to Overweight from Neutral on valuation as they find the stock oversold at current levels.
  
• KeyBanc upgraded Nordson (NASDAQ: NDSN) to Hold from Underweight based on valuation, strong balance sheet and cost reductions, and a solid track record of execution.
• Philips Electronics (NYSE: PHG) was upgraded to Neutral from Underweight at HSBC.
  
• Aeropostale (NYSE: ARO) was raised to Equal Weight from Underweight at Barclays.
  
• Carter's (NYSE: CRI) was upgraded at Goldman to Neutral from Sell.

In the News:
How Much Will You Get From Stimulus Package?
Find out how much you'll benefit from the government's big plan. Most workers will end up with an extra $8 a week. But the $787 billion economic stimulus package, which President Obama is expected to sign Tuesday, contains numerous provisions that could save you much more than that, depending on your circumstances. Here's a closer look at who stands to gain from the American Recovery and Reinvestment Act.
http://www.usatoday.com/money/perfi/columnist/block/2009-02-16-stimulus-home-car-buyers_N.htm
and http://www.smartmoney.com/Spending/Deals/What-Does-the-Stimulus-Mean-for-You/

Last week, Bank of Montreal (NYSE: BMO), one of Canada's oldest and largest banks, reported growth in its fiscal fourth-quarter earnings. But it may be the only one that does, as at least two of the Canadian banks scheduled to report fourth-quarter numbers this week have already released preliminary results that warn of lower earnings due to debt write-downs and trading losses.

Analysts surveyed by Thomson Reuters expect Toronto-based Canadian Imperial Bank of Commerce (NYSE: CM) to post earnings 42.6% lower than a year ago, or $1.28 per share. CIBC beat estimates by a penny in the third quarter, but missed by a penny in the period before that. The bank faces a class-action lawsuit related to investments in collateralized debt obligations consisting of U.S. subprime mortgages. Shares have climbed 20.7% from a recent 52-week low of $39.52, but are down 37.8% in the past three months.

Toronto Dominion Bank (NYSE: TD), Bank of Nova Scotia (NYSE: BNS), and Royal Bank of Canada (NYSE: RY) are expected to report more modest earnings declines of $1.01 per share, $0.73 per share, and $0.83 per share, respectively. All three Toronto-based banks topped estimates in the third quarter. Toronto Dominion and RBC have recently announced plans to offer shares in order to raise capital. Toronto Dominion and Scotiabank have been trading near 52-week lows, and their share prices are down around 39% in the past three months. But only Toronto Dominion has a consensus buy recommendation from analysts.