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

• ADC Telecommunications Inc. (ADCT) posted a surprise net loss for Q4 and predicted a loss in Q1.
• BJ's Wholesale Club Inc. (BJ) shares fell after Q3 earnings met expectations and offered guidance for FY.
• Dell Inc. (DELL) posted lower-than-expected Q3 earnings, prompting a sell-off of shares.
• Foot Locker Inc. (FL) said Q3 earnings slumped more than analysts' forecast, sending shares lower.
• Gap Inc. (GPS) reported growth of EPS and revenue in Q3 and announced a share buyback program.

ADC Telecommunications (ADCT - option chain) stock is trading lower today after the company posted a fourth-quarter loss last night of $19.8 million, or 20 cents per share, on revenue of $183.9 million. ADCT also forecast a first-quarter adjusted loss of 10 to 0 cents per share on revenue of $250 million to $275 million. Analysts are forecasting a profit of 11 cents per share on revenue of $274 million. 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 ADCT.

This morning, ADCT opened at $5.46. So far today the stock has hit a high of $5.93 and a low of $5.35. As of 12:05, ADCT is trading at $5.71, down 93 cents (-14.0%). The chart for ADCT looks bullish and S&P gives ADCT a positive 5 STARS (out of 5) strong buy ranking.

ADC Telecommunications' (NASADAQ: ADCT) stock has bided time over the past four months, since the Buy rating on June 10, 2009 at a price of $8.46, but that in no way changes the company's positive.

Hence, look on the current roughly $7.50 price as another chance to scoop up ADCT's shares at a reasonable price, and I'm Reiterating my Buy rating.

TheStreet.com's Jim Cramer says if the company you're looking at is a player in the mobile Internet space, it's probably a good bet.

Does it have smartphone exposure, or doesn't it? That is the question. When I look at what's moving in tech and what's become sullen and gloomy, there's only one compass: smartphones. Think about what's moved this week: Cree (NASDAQ: CREE) (Cramer's Take), Tellabs (NASDAQ: TLAB) (Cramer's Take) and ADC Telecom (NASDAQ: ADCT) (Cramer's Take). These are terrific plays in the smartphone food chain and are included in the "Mad Money" Mobile Internet Index.

ADC Telecom is Chinese Internet infrastructure, and we know that China's spending $40 billion to build out infrastructure that can allow aggressive adoption of smartphones. Tellabs has been waiting for next-generation telecom orders -- smartphones. I think the fact that it announced a giant buyback -- it matters when the stock is this small -- is the signal needed to suggest they are getting orders.

Readers of this space know that the bias favors large-cap companies. However, every once in a while, an exception is made, and ADC Telecommunications (NASDAQ: ADCT) is one.

ADCT is a global supplier of broadband network equipment, software, and systems integration services that enable communications service providers to deliver high-speed internet, data, video, and voice services, with an emphasis on that critical 'last mile' (homes/businesses) portion of network.

Analyst upgrades:

• Ericsson (NASDAQ: ERIC) was upgraded to Add from Hold at WestLB.
  
• JP Morgan upgraded Shire Plc (NASDAQ: SHPGY) to overweight from Neutral to reflect Vyvanse share gains and valuation.
  
• Wachovia upgraded Jefferies (NYSE: JEF) to Market Perform from Underperform because they believe that the recent collapse of the large cap bank sector, Jefferies' cash equity business, and the company's partial privatization as a result of its Leucadia investment will shield shares.
  
• Canaccord upgraded Amylin Pharma (NASDAQ: AMLN) to Hold from Sell.
• ADC Telecomm (NASDAQ: ADCT) was upgraded to Buy from Hold at Kaufman Bros. on valuation following the recent weakness.
• STEC Inc (NASDAQ: STEC) and Popular (NASDAQ: BPOP) were raised to Buy from Neutral at B. Riley.
  

Analyst downgrades:

• Merrill downgraded Disney (NYSE: DIS) to Underperform from Neutral and cut its target to $27 from $34 citing the impact from the current economic climate on earnings.
  
• Barclays downgraded IBM (NYSE: IBM) to Equal Weight from Overweight citing the impact from the weakening economy and the company's large exposure to the financial services industry. IBM's target was cut to $108 from $130.
  
• Jefferies downgraded Salesforce.com (NYSE: CRM) to Underperform from Buy on increased risks of deteriorating payment terms and price pressure on renewals. The company's target was lowered to $36 from $75.
• Goldman downgraded First Solar (NASDAQ: FSLR) and added shares to the Conviction Sell List.

While the earnings crunch for this quarter is all but over, there is still plenty of action in the earnings arena this coming week. For instance, analysts surveyed by Thomson Financial are expecting America's Car Mart Inc. (NASDAQ: CRMT) and Campbell Soup Co. (NYSE: CPB) to be among this week's top earnings gainers.

Bentonville, Ark.-based America's Car Mart is expected to post net income of 38 cents per share (up 52.6% from the same period a year ago) on revenue of $73.8 million (up 25.8%). The used car dealer chain has tended in recent quarters toward positive surprises -- by 21 cents per share, or 73.5%, in the previous quarter. The long-term EPS growth forecast is 15%, about the same as the S&P 500. The consensus recommendation of analysts is to buy CRMT.

Campell is tentatively scheduled to report this week, and the world's biggest soup maker is expected to post net income of 25 cents per share (up 44.0% from a year ago) on revenue of $1.7 billion (up 7.5%). The Camden, N.J.-based company has just missed earnings estimates in the past three quarters. Its long-term EPS growth forecast is 7.5%, which is less than the industry average, but about the same as rivals Kraft Foods (NYSE: KFT) and Heinz (NYSE: HNZ). The analysts' consensus recommendation is currently to buy Campbell.

Other anticipated double-digit earnings gainers scheduled to report this week include brand name apparel maker Guess Inc. (NYSE: GES), mining equipment maker Joy Global (NASDAQ: JOYG), and chip maker National Semiconductor (NYSE: NSM). And Take-Two Interactive Software (NASDAQ: TTWO) is expected to swing to a profit.

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

• ADC Telecommunications Inc. (NASDAQ: ADCT) beat Q2 estimates and raised its full-year guidance.
• Alcoa Inc. (NYSE: AA) near-term earnings prospects led to an analyst downgrade.
• Banco de Chile (NYSE: BCH) earnings prospects after an acquisition led to an analyst's upgrade.
• Benihana Inc. (NASDAQ: BNHN) posted lower Q4 profits but still beat earnings estimates.
• Bob Evans Farms Inc. (NASDAQ: BOBE) reported solid Q4 results due in part to cost management.
• Brown-Forman Corp. (NYSE: BF.B) easily beat Q4 estimates and offered full-year guidance.
• CMGI Inc. (NASDAQ: CMGI) lowered its guidance, sending shares tumbling 25%.
• Coca Cola Hellenic Bottling Co. (NYSE: CCH) warned of weaker earnings due to economic conditions.
• Conn's Inc. (NASDAQ: CONN) reported solid Q1 results and issued in-line guidance for the year.
• Dick's Sporting Goods Inc. (NYSE: DKS) earnings prospects impress analysts despite recent guidance.
• Guess? Inc. (NYSE: GES) topped Q1 expectations due to strong international expansion.
• Krispy Kreme Doughnuts Inc. (NYSE: KKD) swung to a Q1 profit despite falling revenues.
• Lehman Brothers Holdings Inc. (NYSE: LEH) posted a bigger-than-expected loss on further write-downs.

ADC Telecommunications (NASDAQ: ADCT) provides infrastructure equipment used by wireline, wireless, cable, broadcast and enterprise networks. Its systems connect high-speed Internet, data, video and voice services to residential, business and mobile subscribers. The firm also provides network management software and integration services. Ciena (NASDAQ: CIEN), Morgan Stanley (NYSE: MS) and Verizon Communications (NYSE: VZ) are on the company's customer list.

The firm surprised the Street last week, when it reported Q2 EPS of 39 cents and revenues of $403.4 million. Analysts had been looking for 30 cents and $384.8 million. Management also guided Q3 revenues to about $403.4 million ($395.70 million consensus), FY08 EPS to $1.25-$1.33 ($1.21 consensus) and FY08 revenues to $1.52-$1.54 billion ($1.5B consensus). Friedman Billings, Robert W. Baird, UBS and Deutsche Securities subsequently reiterated "buy" ratings on the shares. Lehman Brothers reiterated its "equal weight". All five firms boosted their price targets to the $18.50-$20.00 range.

MOST NOTEWORTHY: Semiconductors, ADC Telecomm and Nationwide Financial were today's noteworthy upgrades:

• Banc of America upgraded the Semiconductor Sector to Overweight from Market Weight citing indications of a bottom given earnings estimate revision momentum and supply chain inventory levels. The firm upgraded Intel (NASDAQ:INTC), Power Integrations (NASDAQ:POWI) and Semtech (NASDAQ:SMTC) to Buy from Neutral and PMC Sierra (NASDAQ:PMCS) and LSI Corp (NYSE:LSI) to Neutral from Sell.
  
• Deutsche Bank upgraded shares of ADC Telecomm (NASDAQ:ADCT) to Buy from Hold as they believe April consensus estimates could prove conservative.
  
• UBS raised Nationwide Financial (NYSE::NFS) to Buy from Neutral and believes a higher offer by Nationwide Mutual is likely.

OTHER UPGRADES:

• Halliburton (NYSE:HAL) was upgraded to Buy from Neutral at Goldman.
  
• Westlate Chemical (NYSE:WLK) was raised to Overweight from Equal Weight at Morgan Stanley.

Bank of America upgraded Intel Corp. (NASDAQ: INTC) to "buy" from "neutral" according to Briefing.com. The news service also reports that Citigroup downgraded PetroChina (NYSE: PTR) from "hold" to "sell."

Bank of America upgraded Analog Devices (NYSE: ADI) to "buy" from "neutral," according to MarketWatch.

ADC Telecom (NASDAQ: ADCT) was raised to "buy" at Deutsche Bank, according to 24/7 Wall St. The financial website also reports that Cirrus Logic (NASDAQ: CRUS) was cut to "perform" from "outperform" at Oppenheimer.

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

Some investors / readers may not be aware that the Internet -- critical as it is today for commercial activities and the flow of information -- was not designed to handle the volume and complexity of today's web tasks. Moreover, the appearance of Internet bottlenecks and ensuing upgrades to broadband and, eventually, to hyperband, has created an impressive business opportunity for ADC Telecommunications.

ADC Telecommunications (Nasdaq: ADCT) is a global supplier of broadband network equipment, software, and systems integration services that enable communications service providers to deliver highspeed Internet, data, video, and voice services.

In F2008 analysts expect strong fiber connectivity sales, including substantial work from telecommunications giant AT&T Inc. (NYSE: T). Further, ADCT's product mix should improve, with high top-line connectivity products offsetting some sector-wide pricing pressure.

MOST NOTEWORTHY: British Airways, ADC Telecomm and Qwest were today's noteworthy upgrades:

• Goldman upgraded shares of British Airways (OTC: BAIRY) to Buy from Neutral on valuation, and believes the company is the "jewel in the crown" in European aviation.
  
• Morgan Keegan expects ADC Telecomm (NASDAQ: ADCT) to benefit from carrier upgrade activity and views expectations as conservative. The firm raised shares to Outperform from Market Perform.
  
• Qwest (NYSE: Q) was raised to Buy from Hold at Soleil on valuation and yield support.

OTHER UPGRADES:

• VistaCare (NASDAQ: VSTA) was upgraded to Hold from Sell at Deutsche Bank.
  
• Banc of America raised Boston Scientific (NYSE: BSX) to Buy from Neutral.
• Lehman upgraded Kindred Healthcare (NYSE: KND) to Overweight from Equal Weight.

The efficiency of high-speed Internet service depends on the excellence of its infrastructure components. An Eden Prairie, Minnesota firm is a leading manufacturer of reliable hardware for the industry, serving big name clients in over 130 countries.

ADC Telecommunications (NASDAQ: ADCT) provides infrastructure equipment used by wireline, wireless, cable, broadcast and enterprise networks. Its systems connect high-speed Internet, data, video and voice services to residential, business and mobile subscribers. The firm also provides network management software and integration services. Ciena (NASDAQ: CIEN), Morgan Stanley (NYSE: MS) and Verizon Communications (NYSE: VZ) are on the company's customer list.

The firm surprised the Street last week, when it reported fiscal Q4 EPS of 30 cents and revenues of $330 million. Analysts had been looking for 22 cents and $318.4 million. Management also guided FY08 EPS to $1.12-1.22, versus Street consensus of $1.17. Merriman Curhan Ford subsequently upgraded the shares to "buy", Friedman Billings reiterated its "outperform", and Robert W. Baird noted that the firm's conservative outlook sets the stage for further outperformance.

MOST NOTEWORTHY: BMC Software, Cynosure and ADC Telecomm were today's noteworthy upgrades:

• Credit Suisse upgraded BMC Software (NYSE: BMC) to Outperform from Neutral based on an improving pricing environment for mainframe software, growth expectations, and upcoming release of IBM (NYSE: IBM) mainframe hardware.
  
• Cynosure (NASDAQ: CYNO) was upgraded to Buy from Hold at Citigroup. The firm upgraded shares after yesterday's sell-off as their checks suggest no notable reduction in demand in Q4.
  
• Merriman upgraded shares of ADC Telecommincations (NASDAQ: ADCT) to Buy from Neutral on the company's strong margin performance in Q4, prospects for growth and attractive valuation.

OTHER UPGRADES:

• Goldman added Intercontinental Exchange (NYSE: ICE) to its Conviction Buy List.
  
• Keefe Bruyette upgraded SLM Corp (NYSE: SLM) to Outperform from Market Perform.
  
• Deutsche Bank upgraded Peugeot (NASDAQ: PEUGY) to Buy from Hold.