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

• Aflac Inc. (AFL) posted better-than-expected Q4 earnings, though revenue fell short, and offered rosy guidance.
• Avon Products Inc. (AVP) posted Q4 earnings growth that met analysts' expectations but shares sold off.
• Cisco Systems inc. (CSCO) higher Q2 earnings topped the consensus estimate but cash flow fell.
• CME Group Inc. (CME) fell short of analysts' Q4 profit expectations, resulting in price-target cuts.
• ExxonMobil Corp. (XOM) posted better-than-expected Q4 earnings and revenue that boosted shares.

It's a close call, but I'm I'm reiterating my buy rating for Western Union (WU), first recommended on July 9, 2009, at a price of $16.49. The call is nuanced, so attention is advised.

The July call argued that WU would likely post a 4% to 7% revenue gain for FY2010. However, the continued contraction in construction work -- which has reduced day-labor demand for money transfer services -- has weighed on WU's revenue. The big unknown for 2010? Will labor markets begin to heal, as expected?

Yesterday, several of America's largest and most well-know companies cut people at an alarming rate. The liquidation of Circuit City could put a total of 30,000 employees onto the street. Pfizer (NYSE: PFE) cut 2,400 sales people. AMD (NYSE: AMD) cut more than 1,000 people. Hertz (NYSE: HTZ) said it will let 4,000 people go, and Wellpoint (NYSE: WLP) will fire more than 1,000 people.

Bloomberg reported that GE (NYSE: GE) might fire up to 11,000 people in its financial unit.

So, in one day, as many as 60,000 people were out of work. A look at the activity shows why it will be so hard to arrest the drop in jobs. The companies involved in downsizing yesterday range from big pharma to transportation to tech to retail. The 24 hours were, in essence, a cross-section of the entire American economy suffering under the weight of the recession.

Economists say there cannot be a recovery with a reversal of the fall in unemployment. Unfortunately, addressing the cause of joblessness is has moved well beyond saving the retail industry and Detroit. Industry by industry, the entire system has become diseased.

Douglas A. McIntyre is an editor at 247wallst.com.

Western Union Company (NYSE: WU) provides a range of money transfer and bill payment services worldwide. Its consumer-to-consumer operations involve multi-currency and real-time processing systems for walk-in, online, and telephone money transfers. Its consumer-to-business operations enable payments to utilities, auto finance companies, mortgage servicers, financial service providers, and governmental agencies. The firm also offers money order products and advance payment services. Western Union does business through a network of more than 345,000 locations, in over 200 countries and territories.

Investors were pleased last week, when the company guided Y08 EPS to the higher end of the range $1.25-$1.29 and revenues to the higher end of the range $5.341-$5.439 billion. Analysts had been expecting $1.28 and $5.420 billion. Management also raised its long-term EPS growth objective from 12-14% to 15-18%, reaffirmed its long-term revenue growth objective of 10-12%, and announced that the board had authorized an additional $1 billion for share repurchases.

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

• Best Buy Inc. (NYSE: BBY) beat Q1 estimates as consumers spent their government stimulus checks.
• Carnival Corp. (NYSE: CCL) posted better than-expected Q2 results but offered cautious Q3 guidance.
• Cyberonics Inc. (NASDAQ: CYBX) beat Q4 expectations and offered full-year guidance.
• FactSet Research Systems (NYSE: FDS) had better-than-expected Q3 results and 500 new subscribers.
• General Mills Inc. (NYSE: GIS) raised its full-year guidance, sending shares up near the 52-week high.
• Goldman Sachs Group Inc. (NYSE: GS) results beat the previous quarter and analysts' estimates.
• John Wiley & Sons Inc. (NYSE: JW.A) doubled its Q4 earnings due to an acquisition.
• Life Partners Holdings Inc. (NASDAQ: LPHI) lifted its Q1 outlook after "best quarter" in company history.
• Lindsay Corp. (NYSE: LNN) Q3 profits nearly doubled, but the share price plunged anyway.
• Meade Instruments Corp. (NASDAQ: MEAD) narrowed its full-year net loss due to restructuring.
• Pall Corp. (NYSE: PLL) beat Q1 expectations on sales growth that was broadly based across markets.
• Titan Machinery Inc. (NASDAQ: TITN) beat Q1 estimates on strong demand for agricultural equipment.
• Vermont Pure Holdings Ltd. (AMEX: VPS) posted strong Q2 results despite a bad debt write-off.
• Western Union Co. (NYSE: WU) said 2008 profits would beat estimates and announced share buyback.

More earnings highlights from this week: Morgan Stanley, FedEx, Ford, GE, Circuit City and others

Freddie Mac (NYSE: FRE) is trading up about 7% on better-than-expected earnings.

Cardiome Pharma (NASDAQ: CRME) is up 9% on a good quarter.

Whole Foods (NASDAQ: WFMI) is selling off 9% on weak quarterly numbers.

Under Armour (NYSE: UA) is up 3% on news that S&P MidCap 400.

Douglas A. McIntyre is an editor at 247wallst.com.

• AFLAC Inc. (NYSE: AFL) reported better-than-expected earnings for the first quarter.
• Ambac Financial Group Inc. (NYSE: ABK) posted a wider-than-expected loss; shares hit new low.
• Amdocs Ltd. (NYSE: DOX) beat Q2 estimates on strength in the managed services businesses.
• Amphenol Corp. (NYSE: APH) beat expectations in the first quarter and raised its guidance.
• Amylin Pharmaceuticals Inc. (NASDAQ: AMLN) posted a larger-than-estimated Q1 loss.
• Aptar Group Inc. (NYSE: ATR) posted record Q1 results and raised its Q2 guidance.
• Bank of America (NYSE: BAC) Q1 earnings plunged on further housing-related write-downs.
• Brinker International Inc. (NYSE: EAT) narrowly beat earnings expectations on cost cutting.
• Bristol-Myers Squibb Co. (NYSE: BMY) beat analysts' estimates for the first quarter.
• Credit Suisse Group (NYSE: CS) reported a wider-than-forecast loss on subprime-related write-downs.
• Cree Inc. (NYSE: CREE) earnings slipped while revenues soared 29%.
• Eli Lilly & Co. (NYSE: LLY) reported worse-than-expected Q1 earnings on discontinued product charge.
• Gannet Inc. (NYSE: GCI) beat low expectations as earnings and revenue continue slump.
• Hasbro Inc. (NYSE: HAS) posted better-than-expected Q1 earnings on international strength.
• JAKKS Pacific Inc. (NASDAQ: JAKK) missed Q1 expectations on restructuring and litigation costs.
• Kimberly-Clark Corp. (NYSE: KMB) beat EPS estimates by a penny, as revenue jumped 10%.

Shares of the world's largest payment transfer company, Western Union Co. (NYSE: WU), have been rallying in today's trading after the company reported a strong quarterly profit, helped by favorable exchange rates that lifted international business. Strong growth came especially from India and China, but the domestic market too provided significant revenue growth on higher demand for electronic bill payment services.

For the quarter, Western Union said that its profit jumped 7% to $207 million, or 27 cents a share, helped by strong gains from its international business. These numbers are up from $193.2 million, or 25 cents a share, reported in the same period a year earlier. Included in the company's earnings figures was $24 million related to restructuring charges. Excluding that, Western Union's earnings would have come at 29 cents per share, exceeding analysts' forecasts for a quarterly profit of 28 cents a share.

Western Union posted a respectable growth of 12% year-over-year, climbing to $1.3 billion. During the period, Western Union benefited from the slumping dollar, a major driver for its international business. Analysts expected the company show revenue of $1.24 billion in the first-quarter, according to Thomson Financial.

Global Payments (NYSE: GPN) is a high-volume payments processor of electronic transactions and related money transfers. It performs point-of-sale credit card, debit card, and check authorization functions for merchants and financial institutions and offers corporate and government clients benefits transfer processing and electronic tax payment services. The firm also facilitates money transfers from the US and Europe, primarily targeting immigrants who send funds to their home countries. MasterCard (NYSE: MA) is a client. Western Union (NYSE: WU) is a competitor.

The firm had good news for investors late last month, when it announced fiscal Q3 EPS of 44 cents and revenues of $310.6 million. Wall Street has been expecting 42 cents and $300.9 million. In discussing the solid results, the CEO pointed to successful merchant services operations and strong revenue growth from an Asia-Pacific joint venture with HSBC Holdings (NYSE: HBC). Management also guided FY08 EPS to $1.95-$1.97 ($1.94 consensus) and FY08 revenues to $1.25-$1.26 billion ($1.24B consensus).

Western Union used to transmit telegrams like: Dear George, my office authorized a transfer of up to fifty thousand dollars to the Bailey Building & Loan STOP Then the advent of the telephone substantially reduced telegram traffic STOP

Next came the Internet and e-mail, which not only reduced telegram traffic to a crawl, it also decreased hard-copy letter writing, as the U.S. Postal Service will confirm.

Since that time The Western Union Company (NYSE: WU) has focused on its consumer money transfer service, or moneygrams, and the results have been impressive. Analysts expect 11-14% revenue growth in FY 2008 on higher transaction fees and foreign exchange fees.

The earnings crunch continues, and here are a few of the highlights of this past week's earnings coverage from BloggingStocks:

• Alcatel-Lucent (NYSE: ALU) posted its biggest quarterly loss since its creation in 2006.
• Archer Daniels Midland Co. (NYSE: ADM) missed earnings estimates despite revenue up 50%.
• Biogen Idec Inc. (NASDAQ: BIIB) fourth-quarter profit soared on strong sales of Avonex and Tysabri.
• Chevron Corp. (NYSE: CVX) reported record profits due to surging oil prices.
• CNET Networks Inc. (NASDAQ: CNET) revenue rose but the forecast was not encouraging.
• Data Domain Inc. (NASDAQ: DDUP) third-quarter revenues spiked due to aggressive overseas expansion.
• Elizabeth Arden Inc. (NASDAQ: RDEN) benefitted from overseas growth, which offset weak holiday sales.
• GlaxoSmithKline (NYSE: GSK) warned that 2008 earnings would be affected by competition from generics.
• Harris Corp. (NYSE: HRS) beat estimates and raised its guidance.
• Micros Systems (NASDAQ: MCRS) beat expectations and offered guidance in line with estimates.
• News Corp. (NYSE: NWS) fell short of earnings expectations despite strength in MySpace and Fox News.
• PepsiCo Inc. (NYSE: PEP) results met estimates and it announced further share buybacks.
• Polo Ralph Lauren Corp. (NYSE: RL) beat estimates and raised its guidance.
• SiRF Technology Holdings Inc. (NASDAQ: SIRF) missed expectations due to a seasonal decline.
• Toll Brothers Inc. (NYSE: TOL) expects to report its seventh straight quarterly revenue decline.
• Toyota Motor Corp. (NYSE: TM) attributed solid earnings to growth in China, Russia, emerging markets.
• Wendy's International Inc. (NYSE: WEN) missed earnings estimates, despite beating revenue forecast.
• Western Union Co. (NYSE: WU) posted results just ahead of Wall Street estimates.
• Yum! Brands (NYSE: YUM) posted solid results on overseas growth and share buybacks.

Do you know which company introduced the first consumer charge card? No? It also introduced the first successful stock ticker and was one of the original eleven stocks in the Dow Jones Average. Still no? What if I say that it completed the first transcontinental telegraph line across North America? Now you have it! Of course, the telegram is a memory.

Western Union Company (NYSE: WU) provides a range of money transfer and bill payment services worldwide. Its consumer-to-consumer operations involve multi-currency and real-time processing systems for walk-in, online, and telephone money transfers. Its consumer-to-business operations enable payments to utilities, auto finance companies, mortgage servicers, financial service providers, and governmental agencies. The firm also offers money order products and advance payment services. Western Union does business through a network of more than 320,000 locations, in over 200 countries and territories.

Investors were pleased last week, when the company reported Q3 EPS of 30 cents and revenues of $1.26 billion. The Street had been looking for 28 cents and $1.26 billion. D.A. Davidson subsequently upgraded the shares to "buy," noting improved business in Mexico and optimism over newer relationships with Wal-Mart Stores Inc. (NYSE: WMT) and Google Inc. (NASDAQ: GOOG). Management also guided FY07 EPS to $1.11-$1.13, versus consensus of $1.08. The share price popped on the news and then moved into a bullish "flag" consolidation pattern. Stocks frequently exit flags moving in the same direction they were traveling on entry. In this case, that would be to the upside.