If you've been watching earnings this past week, or if you read last week's Week in Preview, then this coming week may leave you feeling a bit like Bill Murray in Groundhog's Day. That is, again analysts surveyed by Thomson Reuters expect earnings declines to be more frequent and deeper than earnings gains.

Motorola Inc. (NYSE: MOT), Dow Chemical Co. (NYSE: DOW), Anadarko Petroleum Corp. (NYSE: APC), IAC Interactivecorp (NASDAQ: IACI), Moody's Corp. (NYSE: MCO), Elizabeth Arden Inc. (NASDAQ: RDEN), Devon Energy Corp. (NYSE: DVN), Diebold Inc. (NYSE: DBD), Tyco International Ltd. (NYSE: TYC), United Parcel Service (NYSE: UPS), Cisco Systems Inc. (NASDAQ: CSCO), Polo Ralph Lauren Corp. (NYSE: RL), ITT Corp. (NYSE: ITT), and Walt Disney Co. (NYSE: DIS) are scheduled to report quarterly results this week, and they're all expected to report double-digit declines in earnings.

But again this week, let's take a look who Wall Street feels may have done well in the past quarter.

Analyst upgrades:

• JP Morgan upgraded Altria (NYSE: MO), citing the company's 25% cash return to shareholders by 2010 and its market leadership.
  
• RBC Capital upgraded Core Laboratories (NYSE: CLB) based on its solid balance sheet and liquidity, strong market positions, and technology-driven products.
  
• RBC Capital believes Schlumberger's (NYSE: SLB) earnings will decrease the least vs. its peers through 2010 and notes its breadth of products/services.
• Tellabs (NASDAQ: TLAB) upgraded to Overweight from Equal Weight at Barclays.
  
• Bally Tech (NYSE: BYI) upgraded to Buy from Neutral at Goldman.
  
• Best Buy (NYSE: BBY) upgraded to Buy from Neutral at Piper Jaffray.

• Goldman downgraded Apple (NASDAQ: AAPL) citing consumer spending concerns and valuation.
  
• Merrill downgraded JP Morgan (NYSE: JPM) citing expectations for credit costs to get worse in the US.
  
• Wachovia downgraded a handful of names, including Chesapeake (NYSE: CHK), in the Exploration & Production space as they believe natural gas prices have more downside in order to balance supply/demand fundamentals.

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.

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

• Applied Materials Inc. (NASDAQ: AMAT) Q2 profits declined on a glut of flash memory chips.
• Bally Technologies Inc. (NYSE: BYI) beat Q3 expectations and offered full-year guidance.
• Barclay's (NYSE: BCS) reported a big Q1 loss on credit-related write-downs.
• Constant Contact Inc. (NASDAQ: CTCT) saw big increases in Q1 revenues and in its customer base.
• Deere & Co. (NYSE: DE) Q2 profits rose on international demand, but results just missed estimates.
• Fluor Corp.'s (NYSE: FLR) strong Q1 results are a signal for the energy sector, says Jim Cramer.
• Freddie Mac (NYSE: FRE) Q1 loss widened on the housing slump, but not as much as forecast.
• IndyMac Bancorp Inc. (NYSE: IMB) narrowed its loss but predicted it wouldn't see a profit in 2008.
• LDK Solar Co. Ltd. (NYSE: LDK) Q1 earnings topped forecasts and it raised its outlook.
• MBIA Inc. (NYSE: MBI) reported a larger-than-expected Q1 loss due to write-downs.
• Mindray Medical International Ltd. (NYSE: MR) beat Q1 expectations and raised its full-year guidance.
• Nuance Communications Inc. (NASDAQ: NUAN) Q2 earnings were in line with analysts' expectations.
• ON Semiconductor Corp. (NASDAQ: ONNN) beat Q1 expectations and raised its Q2 revenue forecast.
• RealNetworks Inc. (NASDAQ: RNWK) beat Q1 estimates and announced share buybacks and a spin off.
• Salary.com Inc. (NASDAQ: SLRY) missed Q1 forecasts, leading to analysts' downgrades.
• Sykes Enterprises Inc. (NASDAQ: SYKE) beat Q1 estimates and raised its Q2 and full-year forecast.
• Syniverse Holdings Inc. (NYSE: SVR) beat Q1 expectations on strength in "messaging and mobil data."
• Toll Brothers Inc. (NYSE: TOL) warned of lower Q2 profits and more "challenging times" ahead.
• Website Pros Inc. (NASDAQ: WSPI) reported flat earnings despite soaring revenues and operating income.

Bally Technologies (NYSE: BYI) designs, manufactures, operates and distributes advanced gaming devices and associated information systems. Products include reel-spinning slot machines, video slots, wide-area progressives and lottery games, as well as an array of casino management, slot accounting, bonusing, cashless operation and table management systems. Bally also owns and operates the Rainbow Casino in Vicksburg, Mississippi.

The company pleased investors earlier in the week, when it announced fiscal Q3 EPS of 52 cents and revenues of $232.6 million. Analysts had been expecting 48 cents and $231 million. Operating income increased to 24% of revenue from 10% in the comparable period last year and from 20% in the December 2007 quarter. Management also guided FY08 EPS to $1.78-$1.90 ($1.79 consensus), FY08 revenues to levels above $885 million ($894.02M consensus) and FY09 EPS to $2.10-$2.50 ($2.24 consensus).

Bally Technologies (NYSE: BYI) designs, manufactures, operates and distributes advanced gaming devices and associated information systems. Products include reel-spinning slot machines, video slots, wide-area progressives and lottery games, as well as an array of casino management, slot accounting, bonusing, cashless operation and table management systems. Bally also owns and operates the Rainbow Casino in Vicksburg, Mississippi.

The company pleased investors earlier in the month, when it announced fiscal Q1 EPS of 37 cents and revenues of $189 million. Analysts had been expecting 27 cents and $180.7 million. Gaming equipment gross margins increased from 32-46% (yr/yr). Management also guided FY08 EPS to $1.55-1.85 ($1.41 consensus) and FY08 revenues to levels above $865 million ($843.08M consensus). Roth Capital subsequently reiterated its "buy" rating on the stock and boosted its price target to $60.