Ann Taylor (ANN - option chain) shares are rising today after the company reported earnings this morning, posting a fiscal-Q4 profit of $7.97 million, or 14 cents per share. Excluding one-time items, ANN earned 19 cents per share on revenue of $515.3 million. Analysts had forecast a profit of 17 cents per share on revenue of $515.1 million. ANN also forecast Q1 revenue of $510 million and fiscal-2011 revenue of $2.18 billion. Analysts have forecast Q1 revenue of $488 million and 2011 revenue of $1.98 billion. 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 ANN.

ANN opened this morning at $27.38. So far today the stock has hit a low of $26.50 and a high of $27.98. As of 11:55, ANN is trading at $27.19 up $2.98 (12.3%). The chart for ANN looks neutral and S&P gives ANN a neutral 3 STARS (out of 5) hold ranking.

Ann Taylor (ANN) March put option implied volatility is at 67, April is at 57, June is at 52. This is compared to its 26-week average of 53 according to Track Data, suggesting larger near term price movement into expected Q4 results on March 3.

Nike, Inc. (NKE) March put option implied volatility is at 31, April is at 27, July is at 25. This is compared to its 26-week average of 24 according to Track Data, suggesting larger near term price movement into expected Q3 results on March 17.

Update is by Stock Specialist Paul Foster of theflyonthewall.com

Analyst upgrades:

• Netflix (NFLX) upgraded to Buy from Underperform at BofA/Merrill.
• Rockwell (ROK) upgraded to Outperform from Market Perform at Wells Fargo.
• Chico's (CHS) upgraded to Outperform from Market Perform at FBR Capital.
• Ann Taylor (ANN) upgraded to Buy from Hold at Citigroup.
• Meredith (MDP) upgraded to Buy from Hold at Citigroup.
• CarMax (KMX) upgraded to Outperform from Sector Perform at RBC Capital.
• Family Dollar (FDO) upgraded to Outperform from Sector Perform at RBC Capital.
• Siliconware Precision (SPIL) upgraded to Outperform from Neutral at Macquarie.
• Amedisys (AMED) upgraded to Buy from Hold at Jefferies.
• TRW Automotive(TRW) upgraded to Buy from Neutral at Goldman.
• Magna (MGA) upgraded to Neutral from Sell at Goldman.

Analyst Upgrades

• Wynn Resorts (WYNN) to overweight from neutral at JPMorgan.
• Oracle (ORCL) and Alliance Data Systems (ADS) to outperform from neutral at Macquarie.
• Saint Joe (JOE) to outperform from market perform at Keefe Bruyette.
• Starwood Hotels (HOT) to neutral from underperform at RW Baird.
• Middlesex Water (MSEX) to buy from neutral at Janney Capital.
• Consol Energy (CNX) to buy from hold at BB&T.

Ann Taylor Stores, Corp. (ANN) is doing extremely well this afternoon. At the time of this writing, shares of the company were up 9% to $25.90. What a move. It probably goes without saying that it was backed by high volume.

The 52-week low for the stock is $11.59 while the 52-week high, which was reached earlier in the intraday session, is currently set at $26.12. There is definitely a bullish aura surrounding this equity. The one-year chart shows a nice recent uptrend, as well as a desire to move past resistance levels defined back in the springtime. So, should investors still be interested at this point?

Analyst Upgrades

• RBC Capital upgraded Brookfield Infrastructure (BIP) to outperform from sector perform with a $20 target. The firm thinks the units' valuation is compelling, while the company's proposed acquisition of assets is positive.
• Stifel upgraded First Horizon (FHN) to buy from hold based on valuation and its path towards normalized profitability. The firm has a $15 price target on the stock.
• KeyBanc upgraded Isle of Capri (ISLE) to buy from hold based on improved earnings growth and valuation. The firm has a $13 target on the stock.
• ATA Inc. (ATAI) was upgraded to neutral from underweight at Piper Jaffray.
• Buckeye Partners (BPL) was upgraded to neutral from sell at Goldman.
• Sinopec (SNP) was upgraded to overweight from neutral at HSBC.

Below are some highlights from this past week's earnings coverage on BloggingStocks. Click through to the original posts for more details.

• Ann Taylor Stores Corp. (ANN) shares rallied on heavy volume after it posted better-than-expected Q1 earnings.
• AutoZone Inc. (AZO) Q3 earnings easily beat consensus expectations and same-store sales rose sharply.
• Borders Group Inc. (BGP) posted a wider operating loss, decreasing gross margin, and a same-store sales decline.
• Campbell Soup Co. (CPB) posted strong Q3 results and offered guidance, boosting shares on a down-market day.
• Costco Wholesale Corp. (COST) posted better-than-expected Q3 results, due in part to a surge in membership sales.

Ann Taylor (ANN) closed higher this past Friday by a whopping 8%. It increased $1.73 to $21.96. Volume was well above average, an indication of conviction behind the trade. Wall Street gave the retailer a thumbs-up after its most recent quarterly report.

The stock has been an interesting one over the past twelve months. As I've mentioned before, it's been difficult figuring out exactly where the market wants to take it. Yet, when you step back and have a look at the one-year chart, you see what appears to be a bias to the upside. The right side of the graphic shows a little volatility that has pulled the stock down from the 52-week high of $25.24. Have we been presented with a buying opportunity?

Blame the Greeks... Why should today be any different? The fear is that the Greek debt crisis is ready to spread. You have heard it before, and you will continue to hear it again. Maybe this is just the excuse the bears needed to take control. Suddenly, the VIX was back above 25 for the first time since February.

Here were today's closing bell levels:

Dow 10,926.77 -225.06 (-2.02%)
S&P 500 1,173.60 -28.66 (-2.38%)
Nasdaq 2,424.25 -74.49 (-2.98%)

Top Analyst Calls

"Why are we seeing strength in select retailers such as AnnTaylor (ANN), Philip-Van Heusen (PVH) and Talbots (TLB)? asks Mike Cintolo.

The editor of Cabot Top Ten Report explains, "The world of retail is a harsh and unforgiving one, especially when the U.S. and global economies are still technically in a recession. But investors are always looking ahead, and right now they like what they see.

AnnTaylor (ANN - option chain) shares are rising today after the US Commerce Department reported that retail sales rose 1.6 percent in March, topping forecasts of 1.2 percent growth. If you think this news is a good sign for ANN and 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 ANN.

ANN opened this morning at $21.24. So far today the stock has hit a low of $21.43 and a high of $22.77. As of 12:00, ANN is trading at $22.63 up $1.45 (6.8%). The chart for ANN looks bearish and S&P gives ANN a negative 1 STARS (out of 5) strong sell ranking.

Analyst Upgrades

• Barrington upgraded Global Payments (GPN) to outperform from market perform following the company's Q3 results and raised earnings guidance.
• FBR Capital upgraded Foot Locker (FL) to outperform from market perform to reflect the company's improving comps and international expansion. The firm set a $17 price target for shares.
• Keefe Bruyette upgraded Legg Mason (LM) to outperform from market perform and raised its target for shares to $37 from $34.
• Acuity Brands (AYI) was upgraded to buy from hold at BB&T.
• Ann Taylor (ANN) was upgraded to hold from underperform at Jefferies.
• Waddell & Reed (WDR) was upgraded to buy from hold at Citigroup.

Analyst Upgrades

• Credit Suisse upgraded Blackrock (BLK) to outperform from neutral and added shares to its U.S. Focus List. The firm cites valuation for the upgrade. The firm raised its target to $280 from $270.
• Keefe Bruyette upgraded Greenhill & Co. (GHL) to outperform from market perform following the company's acquisition of Caliburn. The firm raised its price target for shares to $110 from $82.
• Deutsche Bank upgraded Athenahealth (ATHN) to buy from hold, citing the removal of the company's accounting overhang and a strong long-term outlook. The firm raised its price target for shares to $51 from $40.
• Ann Taylor (ANN) was upgraded to neutral from underperform at BofA/Merrill.
• Jacobs Engineering (JEC) was upgraded to sell from conviction sell at Goldman.
• Sterling Bancorp (STL) was upgraded to outperform from market perform at BMO Capital.

Ann Taylor (ANN). Now there's a stock that drives me crazy. If you check out previous articles I've written on the retailer (here's one from November 2009; here's another from August 2009), you'll notice that I didn't have a great handle on where the stock was heading. It's tough sometimes to figure out how the market will judge the fundamentals of a situation, even if the fundamentals seem especially clear.

Anyway, the company reported fourth-quarter numbers earlier today. On an adjusted basis, profit came to 5 cents per share. A year ago, investors had to deal with a loss of $1.03 per share. Analysts thought a loss of a penny per share was in the cards. That's got to be worth a bid, right?

Most of the S&P 500 have reported earnings results this quarter, but on tap this week are Brown-Forman Corp. (BF.B), National Semiconductor Corp. (NSM) and Pall Corp. (PLL), which are expected to post earnings growth, as well as H&R Block Inc. (HRB) and Kroger Co. (KR), which are not.

Most of the high expectations from analysts surveyed by Thomson Reuters are still with retailers this week, though. Here's a look at a few of them.