Things look to be pretty quiet on the economic calendar this week. Here are the highlights:

• Tuesday: Weekly chain-store sales
• Wednesday: Federal budget balance for January
• Thursday: Wholesale trade data in December
• Friday: Trade balance in December and the weekly inflation survey

However, three iconic companies -- Walt Disney (DIS), Coca-Cola (KO) and Hasbro (HAS) -- highlight this week's quarterly results. Here's a look at what analysts surveyed by Thomson Reuters are anticipating from these and others.

Sara Lee (SLE) has rejected an offer from a group of private-equity firms that includes Bain Capital, Apollo Management and TPG Capital, the New York Post reports. Overall option implied volatility of 20 is below its 26-week average of 24, according to Track Data, suggesting decreasing price movement.

PepsiCo (PEP) is expected to report Q4 EPS on February 10. Overall option implied volatility of 17 is near its 26-week average, according to Track Data, suggesting nondirectional near-term price movement.

Options Update is by Stock Specialist Paul Foster of theflyonthewall.com.

As the economy rebounds and credit markets warm up again, it looks like private equity firms are going back to work -- on big deals. According to Bloomberg.com, Apollo Global Management is prepared to offer $12 billion for Sara Lee (SLE). The transaction would also include investor C. Dean Metropoulos -- who bought Pabst Brewing in 2010 -- as well as Bain Capital and TPG.

It looks like this is a viable offer even though a strategic buyer is interested (which often can justify a higher valuation). This is JBS SA, a beef processor based in Brazil. An acquisition would certainly have lots of synergy, creating a vertical operation. Interestingly enough, JBS may seek the help of the Blackstone Group (BX).

ConAgra (CAG) is expected to report Q2 EPS on December 21. The company lowered Q2 guidance on December 9. January and March put option implied volatility of 22 is above its 26-week average of 19, according to Track Data, suggesting decreasing price movement.

Sara Lee (SLE) the Wall Street Journal reported a sale or break up is possible. January call option implied volatility is at 33, February is at 31, above its six-month average of 25 according to Track Data, suggesting larger price movement.

Options Update is by Stock Specialist Paul Foster of theflyonthewall.com.

Analyst Upgrades

• Amgen (AMGN) to overweight from neutral at Piper Jaffray.
• Goodrich Petroleum (GDP) to outperform from market perform at Wells Fargo.
• Tutor Perini (TPC) to buy from neutral at UBS.
• Covidien (COV) to buy from neutral at Goldman.
• Sara Lee (SLE) and Comcast (CMCSA) to outperform from market perform at Bernstein.
• Research In Motion (RIMM) to outperform from sector perform at FBN Securities.

Sara Lee Corp. (SLE) isn't far from its 52-week high of $15.40. At the time of this writing, the quote was valued at $14.30. The shares have traded in a narrow range over the last twelve months; the 52-week low is $9.17.

The stock is experiencing selling pressure (it's currently down 1%) following the company's fiscal Q4 report. According to this article, adjusted profit of 19 cents per share beat the consensus by three pennies. Furthermore, the actual press release states that cash from operations came in at $952 million over the past four quarters; in the comparable period, the business generated $900 million from operations.

"Nobody doesn't like Sara Lee (SLE)?" Think again. Swiss company Nestle has filed a lawsuit against the Illinois-based food giant, claiming patent infringement of the Nespresso coffee system. While the Swiss are known for staying neutral, Nestle felt compelled to seek legal action in an effort to protect its highest-selling product.

Nespresso is the business model that keeps on giving ... once customers buy one of the high-end machines, they also need to buy capsules of blended coffee (available in 16 varieties of varying flavors and intensity). The machines run from $199 to $599 and the capsules are about 55 cents apiece (which provides one cup). That 12-cup-a-day habit can add up quickly.

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

• Activision Blizzard Inc. (ATVI) saw shares rise following its report of better-than-expected Q1 earnings.
• Beazer Homes USA Inc. (BZH) posted a Q2 profit and revenue growth, and announced a stock offering.
• CBS Corp. (CBS) reported improvements in both Q1 net income and cash flow, but shares declined.
• Clorox Co. (CLX) posted Q3 earnings that were higher than analysts had expected and offered weak guidance.
• First Solar Inc. (FSLR) reported quarterly earnings that easily topped analysts' expectations.

So ... how was your trading week? Mine wasn't so hot. But I guess we need to keep sifting through all those stocks that are now sporting claw marks courtesy of the growling bears who are now in control to figure out which ideas should be given a round of due diligence and which ones should be thrown by the wayside.

Let's check out Sara Lee (SLE). I like the one-year chart. The 52-week low on the stock is $8.71; the 52-week high is $14.36. The shares closed down by a mere three pennies on Friday to settle out at $13.44.

Sara Lee (NYSE: SLE) closed at $10.54. Unilever (NYSE: UN) agreed to buy SLE's personal-care and European detergent unit for $1.88 billion. SLE's board of directors authorized a $1 billion share repurchase program. SLE October option implied volatility is at 39, November is at 38; near its 26-week average of 38 according to Track Data, suggesting non-directional price movement.

MSCI Brazil Index (NYSE: EWZ) is recently up 37 cents to $65.04 in pre-open trading. Brazil Bovespa Stock Index is up 0.1%. EWZ call option volume of 14,379 contracts compares to put volume of 22,765 contracts. EWZ October option implied volatility is at 37, October and January is at 38; below its 26-week average of 45, according to Track Data, suggesting decreasing price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Dell (NASDAQ: DELL) will commence an offer to acquire Perot Systems (NYSE: PER) for $30 per share in cash. DELL expects the transaction to be accretive to DELL's GAAP earnings in its fiscal year 2012. PER options were active last week, with 2,549 contracts trading on September 18, the most active day since July 2002. PER over all option implied volatility of 48 is above its 26-week average of 36, according to Track Data, suggesting larger price movement.

Sara Lee (NYSE: SLE) closed at $10.68. SLE October option implied volatility of 34 is near its 26-week average of 36. SLE options were active on September 18 with 17,563 contracts trading according to Track Data.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

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

• Applied Materials Inc. (NASDAQ: AMAT) posted better-than-expected Q3 results, sending shares higher.
• AutoDesk Inc. (NASDAQ: ADSK) reported better-than-expected Q2 earnings, sending shares higher.
• Blockbuster Inc. (NYSE: BBI) had another disappointing quarter as same-store sales declined.
• CIT Group Inc. (NYSE: CIT) delayed its Q3 report due to ongoing debt restructuring and a possible bankruptcy.
• Dr Pepper Snapple Group Inc. (NYSE: DPS) Q2 earnings came in well ahead of Wall Street expectations.