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

• Alcatel-Lucent (NYSE: ALU) reported a narrower Q3 net loss and reaffirmed its outlook.
• Barclays (NYSE: BCS) earnings and dividend prospects resulted in an analyst's downgrade.
• Burger King Holdings Inc. (NYSE: BKC) posted its 19th straight quarter of positive growth.
• Choice Hotels International Inc. (NYSE: CHH) better-than-expected Q3 report led to an upgrade.
• Comcast Corp. (NASDAQ: CMCSA) reported strong Q3 numbers and maintained its revenue outlook.
• DreamWorks Animation SKG Inc. (NYSE: DWA) better-than-expected Q3 results driven by Kung Fu Panda.
• Exxon Mobil Corp. (NYSE: XOM) reported another record profit in Q3 driven by record high fuel prices.
• Garmin Ltd. (NASDAQ: GRMN) reported a better-than-expected Q3 profit and offered guidance.
• Hercules Inc. (NYSE: HPC) posted lower Q3 earnings and anounced [regulatory] approval of its buyout.
• Janus Capital Group Inc. (NYSE: JNS) weaker-than-expected results led to an analyst's downgrade.
• Legg Mason Inc. (NYSE: LM) swung to a smaller-than-expected Q2 net loss and shares soared.
• Motorola Inc. (NYSE: MOT) dismal Q3 results managed to beat low earnings expectations.
• Office Depot (NYSE: ODP) Q3 results included lower revenue and a net loss due to economic conditions.
• Qwest Communications International Inc. (NYSE: Q) unimpressive Q3 numbers fell short of estimates.
• Sun Microsystems (NASDAQ: JAVA) swung to a greater-than-expected net loss due in part to competition.
• Texas Roadhouse Inc. (NASDAQ: TXRH) missed Q3 estimates and warned of flat full-year earnings.
• Valero Energy Corp. (NYSE: VLO) strong Q3 results included a gain from a sale of a refinery.
• Visa Inc. (NYSE: V) beat Q4 earnings expectations after adjustment for litigation-related charges.
• Whirlpool Corp. (NYSE: WHR) fell short of revenue estimates and announced job cuts.

Shares of U.S. Steel Corp. (NYSE: X) and Hercules Inc. (NYSE: HPC) soared Tuesday after the former reported that its third-quarter profits more than tripled and the latter said during its Q3 report that the necessary regulatory approval had been received for its acquisition by rival chemical company Ashland Inc. (NYSE: ASH).

Pittsburgh-based U.S. Steel reported the most profitable quarter in its history as higher prices led to record gains in its tubular and flat-rolled steel businesses. Its net income totaled $919 million, or $7.79 per share, in the quarter, which was 70.8% higher than a year earlier, and quarterly sales soared 68% to $7.31 billion. Excluding one-time charges related to a union labor agreement and environmental remediation, U.S. Steel earned $8.79 per share.

Analysts polled by Thomson Reuters, on average, had predicted earnings of $7.09 per share on revenue of $7.2 billion.

The company warned that the volatile global economic climate could hurt results for the rest of the year. Steel prices have deteriorated globally in recent weeks as demand has slowed.

After falling to a 52-week low on Tuesday morning, shares rose 14.2% to close at $35.20. Shares are down 70.8% year to date.

MOST NOTEWORTHY: Allegheny Tech, Carpenter Tech, Haynes, Motorola and Machinery stocks were today's noteworthy downgrades:

• JP Morgan downgraded Allegheny Tech (NYSE:ATI), Carpenter Tech (NYSE:CRS) and Haynes (NASDAQ:HAYN) to Neutral from Overweight based on the decline in nickel prices and its impact on nickel-based metals demand on valuation, as they find the risk/reward less attractive following the recent rally and increased raw material costs.
  
• Oppenheimer downgraded shares of Motorola (NYSE:MOT) to Underperform from Perform after channel checks indicated the company could miss Q2 handset guidance and continued market share losses.
• UBS said the risk/reward profile for owning Machinery stocks given macro challenges and valuations. The firm downgraded Caterpillar (NYSE:CAT) and Kennametal (NYSE:KMT) to Sell from Neutral and United Rentals (NYSE:URI) and RSC Holdings (NYSE:RRR) to Neutral from Buy. Additionally, shares of Paccar (NASDAQ:PCAR) were cut to Sell from Neutral and Navistar (OTC:NAVZ) was downgraded to Neutral from Buy due to weak U.S. truck demand.
  

OTHER DOWNGRADES:

• Jefferies cut Hercules Inc (NYSE:HPC) to Hold from Buy.
  
• Goldman downgraded Pfizer (NYSE:PFE) and DirecTV (NASDAQ:DTV) to Neutral from Buy.
  
• Regeneron (NASDAQ:REGN) was downgraded to Neutral from Outperform at Credit Suisse.

MOST NOTEWORTHY: UnitedHealth Group Inc (UNH), Aetna Inc (AET), Hercules Inc (HPC) and Alcatel-Lucent (ALU), were today's noteworthy initiations:

• Jefferies started UnitedHealth Group inc NYSE: UNH) with a Hold rating and $48 target and said near-term risk is still present due to unfavorable reserve adjustments to the company's commercial risk business and high expectations for improvement in the company's commercial medical care ratio.

• Aetna Inc (NYSE: AET) was also initiated by Jefferies with a Hold rating based on valuation.

• Credit Suisse started Hercules Inc (NYSE: HPC) with an Outperform rating and $24 target.

• Matrix USA initiated Alcatel-Lucent (NYSE: ALU) with a Hold rating on valuation...

OTHER INITIATIONS:

• Cowen is positive on MIPS Technologies, Inc (NASDAQ: MIPS), starting the company with an Outperform rating, and expects a deal with Microchip Technology Inc (MCHP) to be announced soon.

• JP Morgan initiated shares of Headwaters Inc (NYSE: HW) with a Neutral rating.

• Needham assumed coverage of Harris Interactive Inc (NASDAQ: HPOL) with a Hold rating.

• ThinkEquity started Aruba Networks, Inc (NASDQ: ARUN) with an Accumulate rating and $15 target.

• Lazard initiated shares of Cyclacel Pharmaceuticals Inc (NASDAQ: CYCC) with a Buy rating and $11 target.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).