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

• Blockbuster Inc. (BBI) Q1 net loss was in line with estimates and same-store sales declined, shares also fell.
• CA Inc. (CA) shares sold off on high volume following the Q4 earnings miss and disappointing guidance.
• Cigna Corp. (CI) reported better-than-expected Q1 earnings and higher revenue, and reaffirmed its full-year outlook.
• Cisco Systems Inc. (CSCO) beat Q3 earnings and revenue expectations in the "strongest quarter in our history."
• Dean Foods Co. (DF) lower Q1earnings beat analysts' estimates, but shares fell on heavy volume afterward.
• Denny's Corp. (DENN) bested consensus estimates and year-ago EPS by a penny, but said same-store sales fell.

Denny's Corporation (DENN), a well-known casual restaurant chain, was up over 8% going into the company's earnings report on Monday. Volume wasn't so impressive, however. Still, now that the release is out, what should we think about the prospects for the stock?

Well, let's briefly review the progress of the shares over the last twelve months. The following chart shows an equity that's had something of a volatile run this past year. The 52-week low is $2.07, and the 52-week high is $3.99. Yep, we're talking about a single-digit price. You've got to be careful when dealing with this spectrum of investing; low-priced equities can be risky.

The Committee to Enhance Denny's Corporation (DENN), which is a group created by investors Oak Street Capital Management, and Dash Acquisitions, has filed a preliminary proxy statement that marks the beginning of an effort to shake up the company's board of directors -- and increase shareholder value.

The proxy statement filed with SEC calls out the company's management, board of directors, track record, executive compensation, and overall failure as evidenced by the company's poor share price.

Oak Street Capital Management and Dash Acquisitions own a combined 6.5% stake in Denny's Corporation (DENN), and recently launched a proxy fight to add three new members to the company's board of directors. Calling themselves the Committee to Enhance Denny's, the group opined in a letter that "Shareholders cannot afford to allow the board and management to have more time to implement an effective strategy. We will not linger on the sidelines at this critical juncture."

Dash Acquisitions president Michael Dash, one of the group's three nominees, has been eating at Denny's a lot lately and he isn't happy. He talked with the Wall Street Journal today -- making him possibly the first major shareholder in a publicly-traded restaurant company to trash the company's food in an interview with a national publication.

As so often happens at this point in the earnings season, focus begins to shift to the results from retailers. And the world's largest retailer is among those that step into the spot light this week.

Analysts surveyed by Thomson Reuters are looking for Wal-Mart Stores Inc. (WMT), which was aggressively competitive during the holiday shopping season and also recently announced a new global strategy, to report fourth-quarter earnings of $1.12 per share, up from $1.03 per share in the year-ago period. Revenue for the three months that ended in January is expected to have risen 4.9% to $114.5 billion. The full-year forecast calls for earnings of $3.61 per share (+5.3%) on $409.1 billion in revenue (+0.9%). Walmart has not missed earnings estimates in the past five quarters.

When shares of Denny's Corp. (NASDAQ: DENN) are trading at half the price of a Grand Slam Breakfast, yet it was one of the companies willing to drop big bucks on a Super Bowl ad, I gotta jump in my car and get down to Denny's to see what's gone wrong.

Problem is, nothing has gone wrong. They are just as crowded as ever, especially during this recession.

They represent a full sit-down meal destination at fast-food prices. And the portions are big.

The company has totally restructured, selling off franchises and keeping all the best locations for its own portfolio -- and the results are pouring in.

On Jan. 15, the company said it expects to meet or exceed its previous guidance for full-year 2008, thanks to the success of the Franchise Growth Initiative (FGI) and other cost-saving actions that protect margins and cash flow.

With the stock trading around $1.50 per share, it's time to consider whether Denny's is some low-hanging fruit ready for the picking.

Bryan Perry is a contributor to OptionsZone.com.

It's Super Bowl time.

This day of the year has almost reached holiday status where families and friends gather in front of big-screen TV to spend six hours watching a typically boring football game and stuffing themselves with nachos, wings and beer.

With all of the hoopla surrounding the event, this is a good time for investors to go for some Super Bowl profits.

Why? Looks like it's not just a pseudo-holiday -- it's a tradition:

As weak as consumer spending is, this year's Super Bowl ads are still the most expensive in history at $3 million for a 30-second spot: $100,000 per second.

Even though General Motors (NYSE: GM) and other struggling former mainstays are bowing out of the Super Bowl this year, 90% of the advertising spots for the game are already sold. Denny's (NASDAQ: DENN) purchased a spot in the less-expensive third quarter -- an interesting decision given that that company has seen its stock price decline by more than two-thirds since late 2007. A $3 million ad represents about 2% of that company's market cap, not including production expenses.

Still, some experts say that Super Bowl ads are actually relatively affordable for the amount of eyeballs they attract: 2.7 cents per view compared with 5.6 cents for the Oscars.

Still: Is it really a good idea for companies to shell out millions of dollars to advertise to consumers who don't have any money to spend? For those that can easily afford it and need to keep their brands in the spotlight it makes sense. But for more marginal cases like Denny's, I'm not so sure.

MOST NOTEWORTHY: BP, LMI Aerospace and Smith & Nephew were among today's noteworthy upgrades:

• Credit Suisse upgraded BP (NYSE: BP) following the company's strong Q1 report.
  
• Wachovia upgraded LMI Aerospace (NASDAQ: LMIA) based on valuation and potential catalysts that include a production rate hike decision on the Boeing 737, an option on the 767 wing modification program, and Q1 earnings.
  
• Wachovia upgraded Smith & Nephew (NYSE: SNN) based on growth opportunities, strong reconstruction product cycle, and potential share gains, among other reasons.

OTHER UPGRADES:

• UBS upgraded James River Coal Co. (NASDAQ: JRCC) based on higher long-term coal prices.
  
• Merriman upgraded Denny's Corp. (NASDAQ: DENN) because they believe that franchise growth initiative will reinvigorate the franchisees and put the company in a better position to beat estimates over the next year. The firm thinks investors need to refocus on the company's core operating profitability.