Analyst upgrades:

• Jefferies upgraded Biogen (NASDAQ: BIIB) to Buy from Hold based on valuation. The firm, which has a $50 target on the stock, believes Tysabri PML cases are reflected in shares.
• Deutsche Bank upgraded Nordstrom (NYSE: JWN) to Buy from Hold as it finds the valuation attractive and believes the company's sales are benefiting from stabilization in California and share gains. Deutsche raised its target on shares to $45 from $36.
• RBC Capital upgraded Yum! Brands (NYSE: YUM) to Outperform from Sector Perform and raised its target to $39 from $36 citing valuation and views it as a low risk option on a global economic recovery.
• Credit Suisse (NYSE: CS) was upgraded to Buy from Hold at Citigroup.
• Royal Caribbean (NYSE: RCL) was upgraded to Outperform from Market Perform at Wells Fargo.
• Alcatel-Lucent (NYSE: ALU) was upgraded to Hold from Sell at RBS.

An article in Barron's suggests that Motorola (NYSE: MOT) is on the verge of regaining some of its former mojo. The company recently offered a solid outlook for the remainder of the year, and it could garner new business after debuting two smartphones featuring Google's (NASDAQ: GOOG) Android operating system -- namely, the Droid and the Cliq.

The author cites analyst Ed Snyder of Charter Equity Research, who believes Motorola is on the cusp of "an extended upswing in handsets ... over the next several quarters." Snyder believes that the firm's ailing handset division could achieve break-even results as soon as the second quarter of 2010.

Even for a company the size of Nokia (NYSE: NOK), a quarterly loss of $834 million is still a big deal. And, this is what the company posted for its Q3 report (it's the first net loss since 1996).

OK, the main reason for the red ink was the write-down of a joint venture with Siemens that develops network equipment. No doubt, the business has been brutal. But, Nokia somehow thinks there's potential for growth.

"Research In Motion (NASDAQ: RIMM) remains one of best long-term investment plays on the smart phone tidal wave," says growth expert Toby Smith in his ChangeWave Investing advisory.

"The stock recently fell sharply after issuing a solid, but not blowout, earnings report last night. In my view, the selloff created a buying opportunity.

"The Street's dismay was due to the pre-announcement build-up by many analysts who anticipated a blow-out quarter. When the numbers and outlook failed to live up to their billing, the stock got whacked.

"In our view, this looks like a good buying opportunity for one of the dominant players in the smartphone sector -- and one of the hottest we've identified over the long-term.

Analyst upgrades:

• UBS upgraded Corning (NYSE: GLW) to Buy from Neutral and raised its target to $19 from $18.50, citing the improved LCD supply-demand outlook and improved sell-through ahead of the holiday season in China.
• Credit Suisse upgraded Newfield Exploration (NYSE: NFX) to Outperform from Neutral and raised its target to $48 from $44 citing valuation and improved asset quality.
• Stifel upgraded Newfield Exploration and Ultra Petroleum (NYSE: UPL) shares to Buy from Hold based on strong fundamentals and a long-term positive view for the E&P sector. The firm has a $50 target on Newfield and a $58 target on Ultra Petroleum.
• TJX Companies (NYSE: TJX) was upgraded to Conviction Buy from Buy at Goldman.
• General Mills (NYSE: GIS) was upgraded to Overweight from Equal Weight at Morgan Stanley.
• Coca-Cola Femsa (NYSE: KOF) was upgraded to Buy from Neutral at BofA/Merrill.

From TheStreet.com Network

• Jobs, Unemployment Take Center Stage: Coming Week
• Decidedly Bearish: A Peek at the Week

TheStreet.com's Jim Cramer says a good shakeout on Monday would prepare us for a "fulcrum day" on Tuesday.

Could have been worse. With Research In Motion (NASDAQ: RIMM) (Cramer's Take) never lifting -- which was, by the way, wrong after a certain point -- and oil not rallying, you had no place to go. Last week we lost tech, banks, and oil. You can't even go up with just two of them, so to lose all three was dreadful.

I said last week that the calendar just didn't favor the bulls. The propensity to want to lock in gains ahead of the last weekend in September -- the one that is ended by the Yom Kippur holiday, which will always have thin trading -- is just too great.

Plus, don't forget that every month that is supposed to be bad gets tons of play for being bad: October! Ooooooo, scary! You know that's going to happen again.

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

• Activision Blizzard Inc. (NASDAQ: ATVI) shares rose after it reaffirmed its full-year earnings and sales outlook.
• Automatic Data Processing Inc. (NASDAQ: ADP) will have low double-digit EPS growth, predicts one analyst.
• AutoZone Inc. (NYSE: AZO) posted a decline in earnings but a small rise in sales, sending shares lower.
• Bed Bath & Beyond Inc. (NASDAQ: BBBY) posted better-than-expected Q2 earnings and higher revenue.
• CarMax Inc. (NYSE: KMX) rallied to a new 52-week high after topping analysts' Q2 earnings expectations.
• Carnival Corp. (NYSE: CCL) reported better-than-expected Q3 results and raised its full-year guidance.

Research in Motion Ltd. (NASDAQ: RIMM), the tech company most well-known for building the BlackBerry, is set to report quarterly earnings tomorrow after the close. Analysts expect RIMM to bank $1.00 per share in the period, 13 cents better than year-ago results.

In the past two reporting periods, RIMM has managed to surprise to the upside.

During the past few weeks as earnings approach, RIMM has seen action among call buyers, who are effectively driving up implied volatility. In the past month, at-the-money implied (or expected) readings have jumped from 41% to about 59%. The implied levels are looking fairly pricey here, especially when compared to historical readings.

Much of the focus this week will no doubt be on the FOMC meeting on interest rates and the subsequent decision, as well as on the G-20 meeting in Pittsburgh, were the agenda will include bonuses for bank executives among other things.

Things will be fairly quiet again on the earnings front as the next earnings season has yet to ramp up. However, analysts surveyed by Thomson Reuters do have high hopes for a handful of companies that will release results this week.

Soon, you may be able to throw away your wallet. That's the vision of Nokia (NYSE: NOK), which announced that it will launch a mobile payments service.

The service is called Nokia Money (the platform is based on Obopay, in which Nokia recently made an investment). For the most part, it is geared for simplicity, which is definitely crucial for the consumer market. Essentially, you'll be able to send a payment by using another person's phone number. There will be other helpful features, such as the viewing of account balances in real time.

"By 2017, wireless service providers could generate more than $100 billion from services such as text messaging, GPS and movie, and music downloads " says Roger Conrad.

In Personal Finance, he adds, "Even this forecast could prove extremely conservative thanks to an explosion in sales of smartphones." How to play this trend? Here, he looks at Research in Motion (NASDAQ: RIMM).

"Smartphones account for only 11% of the world's mobile handsets; penetration remains under 20% in the U.S. This leaves plenty of room for further growth.

Analyst upgrades:

• Citigroup upgraded National Fuel (NYSE: NFG) to Hold from Sell to reflect better than expected drilling results for the company's Marcellus shale assets. Citi raised its target on shares to $43 from $42.
• Baird upgraded Netezza (NYSE: NZ) to Outperform from Neutral and raised its target to $14 from $7 based on the company's new product announcement and potential revenue acceleration.
• JPMorgan upgraded Liberty Interactive (NASDAQ: LINTA) to Overweight from Neutral. The firm finds the valuation attractive following Liberty's better than expected Q2 results and set a $13 price target on the stock.
• Marlin Business (NASDAQ: MRLN) was upgraded to Outperform from Market Perform at William Blair.
• Paychex (NASDAQ: PAYX) was upgraded to Sell from Conviction Sell at Goldman.
• Hewitt Associates (NYSE: HEW) was upgraded to Buy from Neutral at UBS.

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

• Adobe Systems Inc. (NASDAQ: ADBE) Q2 earnings were in line with expectations but sales beat.
• Best Buy Inc. (NYSE: BBY) beat earnings estimates for Q1, but on horrible metrics, sending shares lower.
• Carnival Corp. (NYSE: CCL) lower Q2 earnings beat expectations and previous guidance, boosting shares.
• CarMax Inc. (NYSE: KMX) Q1 profit and sales dropped, but still beat expectations, sending shares higher.
• Discover Financial Services (NYSE: DFS) posted a smaller-than-expected Q2 net loss and shares rose.

Research In Motion Ltd. (NASDAQ: RIMM) saw a solid Q1 period, but corporate customer additions dropped while consumer customer additions soared (well, that was the implication anyway). Although the BlackBerry line of devices is selling quite well, RIM announced that it may not be able to meet Q2 targets of $0.98 EPS and $3.61 billion in sales.

RIM executives referenced a quarter that ends August 29 of $0.94 to $1.03 EPS and $3.45 billion to $3.7 billion in sales. It's leaving the possibility that the spending it's seeing to develop the "spectacular" road map ahead -- combined with intense competition with the iPhone and the newer Palm Inc. (NASDAQ: PALM) Pre -- may cause a dip in the current quarter.

Nokia (NYSE: NOK), the Finnish provider of mobile telephones and networking equipment, recently hit some rough seas. The company's sales and market share tanked, due mostly to recession woes. And in the first quarter of this year, Nokia posted its first ever pre-tax loss of 12 million euros.

Now, as the world's largest cellphone manufacturer tries to compete with Google (NASDAQ: GOOG), Apple (NASDAQ: AAPL), Research In Motion (NASDAQ: RIMM) and Samsung in the market for smart phones (see my article about this on DailyFinance, "Nokia's smartphone gets deadpan debut as carriers skip subsidies"), a number of analysts have downgraded its stock.