TheStreet.com's Jim Cramer says besides the basket plays, you can nibble at the parts suppliers like Taiwan Semi and SanDisk.

The pain of coming in on a day like today is unfathomable. But get used to it. We have first of the month and Mutual Fund Monday and roaring Asian markets and worldwide stimulus. The money coming in over the transom seems to be accelerating as people sense that the GM (NYSE: GM) (Cramer's Take) news is long in the stock market and there doesn't seem to be a crisis at hand that can stop us today. I say "today" because I am sure by the end of the day the higher-inflation/higher-taxes mob will have ginned up something to make the markets less appetizing than they seem.

But I think you shouldn't be so daunted about coming in here. Our markets are way behind so many others, including Europe -- that's probably a mistake at this point -- but most especially anything China.

Analyst upgrades:

• Barclays believes Procter & Gamble's (NYSE: PG) portfolio mix provides better leverage to stabilizing macro trends. The firm upgraded shares to Overweight from Equal weight and raised its target to $60 from $56. Note the firm downgraded Colgate (NYSE: CL) to Equal Weight from Overweight.
• Deutsche Bank upgraded McDonald's (NYSE: MCD) to Buy from Hold as it finds the risk/reward on shares compelling at current levels and sees upcoming catalysts from McCafe and easing commodity pressures. The firm raised its target price to $65 from $60.
• FBR Capital upgraded Talbots (NYSE: TLB) to Outperform from Market Perform to reflect an attractive risk/reward, reduced risk of a bankruptcy, and merchandise improvements. The firm raised its target price to $4 from $2.
• Nokia (NYSE: NOK) was upgraded to Buy from Hold at Deutsche Bank.
• Analog Devices (NYSE: ADI) was upgraded to Neutral from Underperform at Baird.

After testifying before a Senate committee about AIG (NYSE: AIG) last week, the Fed's Ben Bernanke participates in a Council of Foreign Relations event Monday evening.

Economic data due to be released this week include wholesale trade and job vacancies for January on Tuesday morning, the U.S. Treasury budget for February on Wednesday, retail sales for February and business inventories for January on Thursday morning, and the U.S. trade balance for January on Friday morning.

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

• American Eagle Outfitters Inc. (NYSE: AEO) saw lower Q3 results in the tough retail envirnoment.
• Analog Devices Inc. (NYSE: ADI) Q4 profit surged but it lowered its Q1 forecast due to slowing orders.
• Borders Group Inc. (NYSE: BGP) had dismal Q3 results and said it had ceased its quest to sell itself.
• Campbell Soup Co. (NYSE: CPB) solid Q1 results beat estimates but shares fell despite a market rally.
• Deere & Co. (NYSE: DE) fell short of Q4 profit expectations and guidance was below estimates.
• Dollar Tree Inc. (NASDAQ: DLTR) had a bigger-than-expected Q3 profit and raised its full-year outlook.
• D.R. Horton Inc. (NYSE: DHI) reported a wider Q4 loss as home sales revenue declined by 50%.
• Hewlett-Packard Co. (NYSE: HPQ) posted strong Q4 numbers that didn't quite match the preliminary results.
• Salesforce.com Inc. (NYSE: CRM) had strong results and an optimistic forecast despite economic conditions.
• Starbucks Corp. (NASDAQ: SBUX) lowered its fiscal 2009 forecast and warned of further restructuring.
• Tiffany & Co. (NYSE: TIF) Q3 earnings declined but topped expectations, and it announced staff reductions.
• Warner Music Group Corp. (NYSE: WMG) Q4 earnings beat expectations though revenues fell slightly.
• Xerox Corp. (NYSE: XRX) forecast a full-year profit in line with estimates and said it is confident in its liquidity.

Upcoming earnings releases include Sears (NASDAQ: SHLD), Staples (NASDAQ: SPLS), Aeropostale (NYSE: ARO), Del Monte Foods (NYSE: DLM), Guess (NYSE: GES), Novell (NASDAQ: NOVL), Toll Brothers (NYSE: TOL), Big Lots (NYSE: BIG), Royal Bank of Canada (NYSE: RY).

Visit AOL Money & Finance for more earnings coverage.

The earnings season is beginning to wind down as we have passed the halfway mark of the quarter and the holiday season begins in earnest next week with Thanksgiving in the United States.

Bermuda-based Frontline Ltd. (NYSE: FRO) is anticipated by analysts surveyed by Thomson Reuters to be one of the biggest earnings gainers among companies scheduled to report quarterly results this coming week. The oil tanker fleet operator is expected to post third-quarter earnings of $1.97 per share, 86.8% higher than in the same period a year ago, on revenues of $399.5 million (+44.6%). Frontline missed estimates by 6.4% in the previous quarter, and the consensus recommendation by analysts is to hold FRO. While Motley Fool likes its robust dividend, Jim Cramer said in a recent Lightning Round that he prefers rival Nordic American Tanker Shipping Ltd. (NYSE: NAT). Shares have fallen 52.9% in the past three months, and reached a 52-week low of $25.00 on Friday.

Analog Devices Inc. (NYSE: ADI) is also expected to be among the week's biggest earnings gainers. Analysts are looking for the semiconductor chip maker to report a fiscal fourth-quarter profit of $0.44 per share, 31.8% higher than a year ago, on revenues of $661.7 million (+2.0%). Analog Devices has beat estimates in three of the past five quarters, but only missed by 1.3% in the previous quarter. Analysts on average recommend buying ADI, which has a forecast long-term EPS growth rate of 17.3%, which better than the S&P 500 and that of rival Texas Instruments Inc. (NYSE: TXN). Shares sank to a multiyear low of $16.23 on Friday, and are down 41.1% in the past three months.

Analyst upgrades:

• Goldman upgraded Bed Bath & Beyond (NASDAQ: BBBY) to Buy from Neutral based on valuation and a potential margin rebound at Linens N' Things.
  
• Citigroup upgraded Rockwell Automation Inc. (NYSE: ROK) to Hold from Sell on valuation and believes expectations have been reset to a reasonable level. The company's target was lowered to $27 from $33.
  
• Friedman Billings upgraded shares of Ceradyne (NASDAQ: CRDN) to Outperform from Market Perform on valuation following the recent weakness and thinks the Army will move forward with a larger XSAPI procurement in FY09. The firm raised their target to $30 from $26.
• Goldman added Wyeth (NYSE: WYE) to the Conviction Buy List.
  
• Equity Residential (NYSE: EQR) was upgraded to Buy from Neutral at UBS.
  
• Analog Devices (NYSE: ADI) was raised to Overweight from Equal Weight at Morgan Stanley.

Analyst downgrades:

Analyst upgrades:

• Philip Morris (NYSE: PM) was upgraded to Outperform from Neutral at Credit Suisse.
• Friedman Billings upgraded shares of Principal Financial (NYSE: PFG) to Market Perform from Underperform as they believe the company's capital buffer could keep outrunning credit losses.
  
• Friedman Billings also upgraded Office Max (NYSE: OMX) to Outperform from Market Perform. The firm believes the risk of recourse to Office Max from the Timber Notes formerly backed by Lehman is low and that any litigation by noteholders will have a low level of success.
  
• Citigroup upgraded CF Industries (NYSE: CF) to Buy from Hold on valuation following the recent weakness but lowered their target to $113 from $128.
• Analog Devices (NYSE: ADI) was upgraded to Buy from Neutral at Merrill Lynch.
  
• Granite Construction (NYSE: GVA) was upgraded to Neutral from Sell at Goldman.
  

Analyst downgrades:

This post is part of a report entitled "Six-pack of technology favorites." You can read about the other top tech stock picks here.

"I think Wall Street has made a poor assessment of Analog Devices (NYSE: ADI)," says Paul McWilliams. Here's a look at the chip maker from his technology-focused newsletter, Next Inning.

"Analog Device's top line guidance came in a bit below Wall Street expectations. However, I think the problems are between the Hudson and East Rivers and not in Norwood, Massachusetts, the hometown of Analog.

"What Wall Street appears to be missing is that since ADI has sold off some of its lower profit business units, its seasonal sales patterns have changed. ADI is now again driven by industrial market sectors much more than it was even just last year.

"Therefore, its conservative guidance of flat to up 3% sequentially shouldn't have been a big surprise nor a cause for concern. As a matter of fact, with its minimal exposure to PC and consumer markets, I think flat to up 3% is pretty good.

"What Wall Street would be better to focus on are the operational improvements ADI has made. In its July quarter, ADI improved its pro forma operating margin to 26.5% from 26.2% last quarter and again reduced its inventory, which sits now at the lowest level we've seen since 2004.

With concerns over recession, turmoil in the financial sector, fear of rising rates, high market volatility and a rising aversion to risk, many investors have been avoiding technology stocks.

Investors have feared that these economic headwinds will dampen both consumer spending for technology products and reduced capital expenditures for technology in the corporate sector.

Despite these concerns, some of the newsletter industry's leading advisors are looking beyond the current malaise and seeing longer-term value in some of the tech sector's leading players. They believe that much of the "bad news" is already reflected in the price of the shares, with little recognition being given to their longer-term potential.

For those willing to go against the crowd and buy, as they say, "while blood is running in the street," we offer a six-pack of technology stocks that the some top advisors considers to be among their favorite ideas.

Rival home improvement chains Home Depot Inc. (NYSE: HD) and Lowe's Companies Inc. (NYSE: LOW) are scheduled to report quarterly results this week. Not surprisingly, given the ongoing housing slump, analysts surveyed by Thomson Financial on average expect both companies to post earnings lower than in the same period a year ago. For Home Depot, that's 61 cents per share, down 20.8%, and for Lowe's, 56 cents per share, down 16.4%. Meanwhile, cabinet maker American Woodmark Corp. (NASDAQ: AMWD), for whom Home Depot and Lowe's are major distributors, is also expected to report lower earnings: 11 cents per share, down 67.6%.

The presidential campaigns have prompted much discussion of energy policy and alternative energy sources. Some solar-energy-related concerns are scheduled to report this week, and expectations seem to be high. Trina Solar Ltd. (NYSE: TSL) is expected to report 81 cents per share earnings, up 67.9%; ReneSola Ltd. (NYSE: SOL) is expected to post earnings of 32 cents per share, up 62.5%; and Suntech Power Holdings Co. (NYSE: STP) is expected to have earnings of 32 cents per share, up 21.9%. Even China Sunergy Co. Ltd. (NASDAQ: CSUN) is expected to have swung to a profit of 3 cents per share, from a per-share loss of 14 cents a year ago.

TheStreet.com's Jim Cramer says all that money has to go somewhere, and this is a likely destination.

Clash of the ideals! Oil's down, and what can you buy when there's so much bad bank news? What can you buy when Wachovia (NYSE: WB) (Cramer's Take) is boosting reserves and Morgan Stanley (NYSE: MS)) (Cramer's Take) is still being pursued by authorities and JPMorgan (NYSE: JPM) (Cramer's Take) says July stunk and UBS (NYSE: UBS) (Cramer's Take) is so tarnished that you can't believe it was once the most conservative blue chip out there.

The answer is tech, of course!

Wait a second. Would anyone mind if we actually had a reason to buy tech beyond the Kindle, the device that made Citigroup gaga about Amazon (NASDAQ: AMZN) (Cramer's Take) -- not that you needed a device to do that.

Sure, we have pre-seasonality. Remember, you are supposed to buy tech at the end of the summer, not that anyone waits that long.

But what we really have is that quant thinking that Doug rails about so correctly: the CDO of stocks! We take a little bad tech, the lowest-end stuff like RF Micro (NASDAQ: RFMD) (Cramer's Take) and Parametric (NASDAQ: PMTC) (Cramer's Take); mix in some mid-tech, stuff like National Semi (NYSE: NSM) (Cramer's Take) and Analog Devices (NYSE: ADI) (Cramer's Take); then throw in Intel (NASDAQ: INTC) (Cramer's Take), Microsoft (NASDAQ: MSFT) (Cramer's Take), Google (NASDAQ: GOOG) (Cramer's Take), Amazon and Adobe (NASDAQ: ABDE) (Cramer's Take) -- yes, Adobe; then split them into tranches, slice 'em up, and offer a derivative on them for those who want leverage and we have, well, a tech rally!

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

• Aeropostale Inc. (NYSE: ARO) posted strong Q1 results on increased same-store sales.
• Analog Devices Inc. (NYSE: ADI) reported solid Q2 results and raised its Q3 guidance.
• BMC Software Inc. (NYSE: BMC) Q4 results beat estimates and it raised its full-year guidance.
• Charming Shoppes Inc. (NASDAQ: CHRS) posted a Q1 loss its worst sales decline in years.
• Ford Motor Co. (NYSE: F) warned that it doesn't expect 2009 profit despite some strength overseas.
• Gymboree Corp. (NASDAQ: GYMB) reported strong Q1 results due to higher retail sales.
• Hormel Foods Corp. (NYSE: HRL) posted solid Q2 results that beat Wall Street estimates by a penny.
• Intuitive Surgical Inc. (NASDAQ: ISRG) warned that it might not meet expectations for 2008.
• Limited Brands Inc. (NYSE: LTD) disappointing Q1 results were offset by a one-time sale of an asset.
• PetSmart Inc. (NASDAQ: PETM) posted weak Q1 results that beat estimates, and offered weak guidance.
• Salesforce.com Inc. (NYSE: CRM) reported strong Q1 results that led to analyst upgrades.
• Talbots Inc. (NYSE: TLB) restructuring costs and soft same-store sales dragged down Q1 earnings.
• Toro Co. (NYSE: TTC) Q2 profits and revenues declined but beat low expectations of analysts.

Additional earnings highlights:
Home Depot, Gap, Lenovo, Air France, Activision, Suntech and others
Hewlett-Packard, Target, Barnes & Noble, Campbell, Staples and others

Upcoming results to watch for include Borders (NYSE: BGP), Polo Ralph Lauren (NYSE: RL), TiVo (NASDAQ: TIVO), Big Lots (NYSE: BIG), Costco (NASDAQ: COST), Dell (NASDAQ: DELL), HJ Heinz (NYSE: HNZ), Sears (NASDAQ: SHLD), Lions Gate (NYSE: LGF), and Tiffany (NYSE: TIF).

Visit AOL Money & Finance for more earnings coverage.

While medical device maker Medtronic Inc. (NYSE: MDT) reported flat fourth-quarter profit on Tuesday despite strong growth in sales and operating earnings, chip maker Analog Devices Inc. (NYSE: ADI) said its fiscal second-quarter profit increase on higher sales of analog products beat analyst estimates.

Minneapolis-based Medtronic's fourth-quarter profit of $812 million was the same as last year, when the company recorded a tax gain of about $129 million. Adjusted earnings-per-share rose to 72 cents, up from 70 cents per share a year ago, and in line with the estimates of analysts surveyed by Thomson Financial.

Revenue for the quarter rose 18% to $3.86 billion, ahead of analysts' expectations of about $3.72 billion.

For the full year just ended, the company earned $2.23 billion, or $1.95 per share, down from $2.8 billion, or $2.41 per share a year ago. Revenue rose to almost $13.52 billion, up from about $12.3 billion a year ago. Analysts were expecting earnings per share of $2.96 on revenue of $15.1 billion.

Medtronic said it expects to earn $2.94 to $3.02 per share for fiscal 2009, on revenue of $15 billion to $15.5 billion.

Shares rose $1.08, or 2.3%, to $48.96 in trading Tuesday, and rose an additional 19 cents after hours.

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.

MOST NOTEWORTHY: Analog Semiconductors, OrthoVita and First Solar were today's noteworthy initiations:

• Morgan Stanley initiated Analog Semiconductors with an In Line rating. The firm assumed National Semiconductor Corp (NYSE: NSM) with an Overweight rating and $26 target and is the firm's top pick; Analog Devices (NYSE: ADI) and Linear Tech (NASDAQ: LLTC) were initiated with Equal Weight ratings and a $32 target and $34 target, respectively.
  
• Barrington believes OrthoVita (NASDAQ: VITA) is the market share and technological leader of the biomaterials market. The firm assumed shares with an Outperform rating and $4 target.
  
• Canaccord Adams believes First Solar's (NASDAQ: FSLR) management and business model are among the best of any PV company and that execution has led to strong profitability plus a successful aggressive capacity ramp. Shares were started with a Buy rating and $325 target.

OTHER INITIATIONS:

• Morgan Stanley initiated Yum! Brands (NYSE: YUM) and Domino's Pizza (NYSE: DPZ) with Equal Weight ratings and targets of $40 and $15, and also initiated McDonald's (NYSE: MCD) and Burger King (NYSE: BKC) with Overweight ratings and targets of $65 and $34.
  
• Lehman initiated Alcoa (NYSE: AA) with an Overweight rating and $44 target.