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

• ADC Telecommunications Inc. (ADCT) posted a surprise net loss for Q4 and predicted a loss in Q1.
• BJ's Wholesale Club Inc. (BJ) shares fell after Q3 earnings met expectations and offered guidance for FY.
• Dell Inc. (DELL) posted lower-than-expected Q3 earnings, prompting a sell-off of shares.
• Foot Locker Inc. (FL) said Q3 earnings slumped more than analysts' forecast, sending shares lower.
• Gap Inc. (GPS) reported growth of EPS and revenue in Q3 and announced a share buyback program.

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

• Aeropostale Inc. (NYSE: ARO) strong Q2 results beat expectations due to rising same-store sales.
• Agilent Technologies Inc. (NYSE: A) Q3 earnings topped low expectations and revenue declined.
• Analog Devices Inc. (NYSE: ADI) posted better-than-expected Q3 results but shares fell on weaker margins.
• Baidu Inc. (NASDAQ: BIDU) CEO said its new advertising efforts will boost sales over the long run.
• Barnes & Noble Inc. (NYSE: BKS) had a better-than-expected Q2 profit but same-store sales fell.
• BJ's Wholesale Club Inc. (NYSE: BJ) reported solid Q2 numbers and raised its full-year guidance.

The J.M. Smucker Company (NYSE: SJM), a food manufacturer famous for its jelly and baking products, reported a great first quarter on Friday. Adjusted earnings per share increased 12% to 92 cents. According to Reuters, management was able to beat expectations by a whopping 12 cents.

This is quite impressive given the fact that an analyst quoted by Reuters believes that more people eating at home are helping to fuel Smucker's success. I say this because, if people are deciding to dine at home more often, they are most likely doing so because of the recession.

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.

Both J.M. Smucker Co. (NYSE: SJM) and Carnival Corp. (NYSE: CCL) topped earnings expectations in their respective quarterly reports Thursday, and shares of both ended the day higher.

Smucker said results for the fourth quarter and fiscal year ended April 30, 2009, included the operations of Folgers Coffee Co. since the completion of the merger in November. Adjusted income per share for the quarter was $1.02, a year-over-year increase of 40%. For the full year, it was $3.77 per share, an increase of 20%.

This post is part of a seven article report -- Food for thought: Best bets in food & beverage stocks.

"The J.M. Smucker Company (NYSE: SJM) is 'one sweet stock'," says growth stock expert Jonas Elmerraji. Here, the editor of The Rhino Stock Report looks at the consumer foods firm.

"The peanut butter and jelly sandwich has been a staple of our diets here in the U.S. for a long time now. In fact, one survey estimated that the average American eats 1,500 PB&J sandwiches before graduating high school.

In a difficult economic environment, it is often wise for investors to consider stocks in more defensive and relatively recession-resistant sectors. And one such area is food and beverage stocks.

As the long-standing market maxim goes, consumers can pull back on spending for vacations, remodeling, and new cars, but they still need to eat and drink.

In that light, I turned to nine leading newsletter advisors who serve up their current favorite ideas in the food and beverage sector:

• Merriman upgraded shares of Google (NASDAQ: GOOG) to Buy from Neutral after its channel checks indicated a modest increase in ad spend per client in March. The upgrade is based on early indications that search pricing and ad spend are stabilizing, search volume continuing to grow at a double-digit rate, and Merriman's belief that consensus estimates are now at reasonable levels.
  
• Deutsche Bank upgraded shares of Alcoa (NYSE: AA) to Hold from Sell and raised its price target to $8 from $7.30 following the company's asset sales in March as it believes the financial overhang on the stock has been removed.
  
• Suntrust said Providence Service (NASDAQ: PRSC) has returned to profitability through demand stabilization for social services and cost controls. Shares were upgraded to Buy from Neutral.
• Telmex (NYSE: TMX) was upgraded to Neutral from Undeperform at Credit Suisse.
  
• Deutsche Telekom (NYSE: DT) was raised to Market Perform from Underperform at Bernstein.
  
• Autodesk (NASDAQ: ADSK) was lifted to Neutral from Sell at UBS.

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

• Bidz.com Inc. (NASDAQ: BIDZ) Q4 earnings release included notice about an SEC investigation.
• Dell Inc. (NASDAQ: DELL) saw net income drop by almost 50%, falling short of estimates.
• Ducommun Inc. (NYSE: DCO) received an analyst's downgrade after its Q4 earnings release.
• Gap Inc. (NYSE: GPS) said Q4 earnings fell due to weakness at Gap and Old Navy stores.
• General Motors Corp. (NYSE: GM) worse-than-expected results prompted speculation about its survival.

Analysts surveyed by Thomson Reuters expected the parade of earnings declines to continue into the final week of February, with Martha Stewart Living Omnimedia Inc. (NYSE: MSO), Nordstrom Inc. (NYSE: JWN), Home Depot Inc. (NYSE: HD), Wynn Resorts Ltd. (NASDAQ: WYNN), Macy's Inc. (NYSE: M), DreamWorks Animation SKG Inc. (NYSE: DWA), Limited Brands Inc. (NYSE: LTD), Target Corp. (NYSE: TGT), Royal Bank Of Canada (NYSE: RY), Del Monte Foods Co. (NASDAQ: DLM), Kohl's Corp. (NYSE: KSS), Washington Post Co. (NYSE: WPO), Dell Inc. (NASDAQ: DELL), Gap Inc. (NYSE: GPS), Campbell Soup Co. (NYSE: CPB), RadioShack Corp. (NYSE: RSH), and H.J. Heinz Co. (NYSE: HNZ) all expected to post lower earnings for the most recent quarter. Office Depot Inc. (NYSE: ODP), Saks Inc. (NYSE: SKS), and Cooper Tire & Rubber Co. (NYSE: CTB) are expect to have swung to a loss.

This post is part of a series featuring bargain stocks that are worth a look now. See more Cheap Stocks.

If peanut butter-and-jelly sandwiches are comfort food, then The J.M. Smucker Company (NYSE: SJM) is a comfort stock. You're probably familiar with the firm's trademark jams and jellies, but Smucker also peddles foodstuffs under the brand names Jif, Crisco, Hungry Jack, Pillsbury, and Carnation, to name just a few. In short, you'd be hard-pressed to find any aisle in your local grocery store that doesn't display Smucker's wares.

In its most recent earnings report, SJM proved that it's good to be a consumer-staples company in today's tumultuous economy. Chairman Tim Smucker observed, "The number of meals prepared and consumed at home, as recent market data indicate, continues to be trending upward in this challenging economic environment, and are currently at levels not seen since 1994."

Not only did this positive fundamental catalyst allow Smucker to beat analysts' earnings-per-share estimates, the firm absolutely crushed Wall Street's revenue expectations. The jam giant boasted second-quarter sales of $843.1 million, up 19% from the year-ago period, while analysts had expected revenue of just $796.1 million.

Despite the company's fundamental advantage, short sellers are overwhelmingly betting against SJM. Short interest on the stock has ballooned by an eye-popping 397% during the past month, and now represents 10.7% of the equity's available float. In light of Smucker's strong earnings report and its ensuing surge on the charts, SJM could bounce higher as the shorts are forced to cover their bearish bets.

Analyst upgrades:

• UBS upgraded Pacific Sunwear (NASDAQ: PSUN) to Neutral from Sell and said liquidity is no longer a near-term concern. The firm lowered Pacific Sunwear's target to $1.50 from $3. Citigroup upgraded shares to Hold from Sell on valuation following the recent weakness and believes Pacific Sunwear has sufficient liquidity to remain a going concern.
  
• Calyon believes Reliant Energy (NYSE: RRI) will be successful in unwinding the Merrill Lynch Retail credit sleeve and obtaining alternative collateral. The firm upgraded shares to Buy from Add.
  
• JP Morgan said Cogent's (NASDAQ: COGT) position in homeland security and the defense markets make it less sensitive to an economic downturn, making valuation attractive. JP Morgan upgraded shares to Overweight from Neutral and raised its target to $13 from $10.50.
• Goldman added Research in Motion (NASDAQ: RIMM) to its Conviction Buy List and removed Riverbed (NASDAQ: RVBD) from the Conviction Sell List.
  
• J.M. Smucker (NYSE: SJM) was raised to Buy from Underperform at Merrill Lynch.