Analyst upgrades:

• Oppenheimer upgraded Momenta Pharmaceuticals (MNTA) to outperform from perform as it finds the stock attractive ahead of FDA's decision on M-enoxaparin. The firm has a $15 price target on the stock.
• Wells Fargo upgraded Symmetry Medical (SMA) to market perform from underperform. The firm cited several factors for the upgrade, including valuation and its belief that Symmetry's customers have begun to deplete their inventories.
• Piper Jaffray upgraded Myriad Pharmaceuticals (MYRX) to neutral from underweight after the company announced Phase 2a date for Azixa. The firm has a $5 price target on shares.
• AvalonBay (AVB) and Mid-America Apartment (MAA) were upgraded to outperform from sector perform at RBC Capital.
• GSI Commerce (GSIC) was upgraded to overweight from equal weight at Morgan Stanley.
• FICO (FICO) was upgraded to equal weight from Underweight at Stephens.

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

• Bed Bath & Beyond Inc. (NASDAQ: BBBY) Q1 earnings tumbled while revenues rose.
• Casella Waste Systems Inc. (NASDAQ: CWST) posted a narrower-than-expected Q4 loss.
• CKE Restaurants Inc. (NYSE: CKR) Q1 earnings increased but its revenue slipped.
• Darden Restaurants Inc. (NYSE: DRI) swung to a Q4 profit on strong sales at Olive Garden.
• Ericsson (NASDAQ: ERIC) said it might not see Q2 profit growth on lower demand and shipping delays.
• General Mills Inc. (NYSE: GIS) Q4 earnings declined but were in line with expectations.
• Gerber Scientific Inc. (NYSE: GRB) reported solid Q4 and full-year results that pleased investors.
• IHS Inc. (NYSE: IHS) beat Q2 expectations and posted record quarterly cash flow from operations.
• Jabil Circuit Inc. (NYSE: JBL) stronger-than-expected Q3 results led to an analyst's upgrade.
• KB Home (NYSE: KBH) widened its Q2 loss due to weak sales and falling prices.
• Kroger Co. (NYSE: KR) beat Q1 expectations as consumers sought discounts on food and gas.
• Monsanto Co. (NYSE: MON) beat Q3 earnings estimates but fell short of revenue estimates.
• Nike Inc. (NYSE: NKE) posted better-than-expected Q4 results boosted by international strength.
• Oracle Corp. (NASDAQ: ORCL) posted strong Q4 results that topped analysts' expectations (see transcript).

Symmetry Medical (NYSE: SMA) makes implants and related instruments for orthopedic device manufacturers, primarily in the United States and the United Kingdom. Its devices are used in reconstructive surgeries to replace or repair hips, knees, shoulders, ankles and elbows. The company also designs, develops and produces products for companies in other segments of the medical device market, including arthroscopy, dentistry, laparoscopy and endoscopy. As a sideline, the firm manufactures aerofoils and aircraft engine parts for a few aerospace customers.

Symmetry pleased the Street earlier in the week, when it announced Q1 EPS of 20 cents and revenues of $101.9 million. Analysts had been expecting 14 cents and $88.4 million. The CEO attributed success to increased demand across the orthopedic market and the effects of recent acquisitions. Management also guided FY08 EPS to 75-77 cents (72 cent consensus) and FY08 revenues to $395-$405 million ($359.21M consensus).

MOST NOTEWORTHY: Lehman, CIT Group and Auxilium Pharma were today's noteworthy downgrades:

• Oppenheimer cut Lehman (NYSE: LEH) to Perform from Outperform on valuation, as they see a "protracted challenging capital markets environment."
  
• The firm also downgraded CIT Group (NYSE: CIT) to Perform from Outperform, as they believe the company addressed its liquidity concerns too late and will be forced into a fire sale of assets.
  
• Merriman downgraded shares of Auxilium Pharma (NASDAQ: AUXL) to Sell from Neutral as they believe there were a number of unexpected adverse events in the phase 3 trials of XIAFLEX that could potentially delay the approval and launch. They see significant potential downside in the interim.

OTHER DOWNGRADES:

• Gap (NYSE: GPS) was lowered to Neutral from Buy at UBS.
  
• Wachovia cut Symmetry Medical (NYSE: SMA) to Market Perform from Outperform.
  
• Wells Fargo (NYSE: WFC) was downgraded by Baird to Underperform from Neutral.

Monday, November 5

• BorgWarner (NYSE: BWA) to give business update at 10am.
• Burger King (NYSE: BKC) to report Q1 earnings; conference call at 10am.

Tuesday, November 6

• Merrill Lynch to host conference call discussing Focus Media's (NASDAQ: FMCN) secondary offering at 11am.
• Yahoo (NASDAQ: YHOO) CEO Jerry Yang, Senior VP Michael Callahan & General Counsel to testify before the House Foreign Affairs Committee on how their company gave false information to Congress relating to their role in a human rights case in China which resulted in a journalist being sent to jail for 10 years.

Wednesday, November 7

• Symmetry Medical (NYSE: SMA) to give Q3 business update at 8am.
• Fluor (NYSE: FLR) to report Q3 earnings; conference call at 9:30am.
• Hot Topic (NASDAQ: HOTT) to report October sales at 4pm, American Eagle (NASDAQ: AEO) to report Oct. sales at 5pm.

Thursday, November 8

• Disney (NYSE: DIS) to report Q4 earnings; conference call at 4:30pm.
• CyberSource (NASDAQ: CYBS) to give 2007 guidance at 4:30pm.
• Gap (NYSE: GPS) and Wal-Mart Stores (NYSE: WMT) to report Oct. sales at 8am, Abercrombie & Fitch (NYSE: ANF) to report Oct. sales at 8:15am.

Friday, November 9

• Halozyme Therapeutics (NASDAQ: HALO) to give business update at 11am.
• Goldcorp (NYSE: GG) to report Q3 earnings; conference call at 1pm.

MOST NOTEWORTHY: Some of today's most notable upgrades include SanDisk Corp (SNDK), CVS Corp (CVS), Dow Jones & Co (DJ) and DaVita Inc (DVA):

• SanDisk Corp (NASDAQ: SNDK) was upgraded to Buy from Neutral at UBS with a $53 target, as they believe Apple's (AAPL) new 16GB & 32GB iPod Video products will be NAND flash based. The firm expects SanDisk shares to perform as Apple's products ramp.

• Deutsche Bank upgraded shares of CVS Corp (NYSE: CVS) to Buy from Hold with a $42 target as they believe the bidding process for Caremark Rx, Inc (NYSE: CMX) is over, reducing concerns.

• Prudential upgraded shares of Dow Jones & Co (NYSE: DJ) to Neutral from Underweight to reflect valuation and the company's strong 2007 outlook.

• Piper Jaffray upgraded DaVita Inc (NYSE: DVA) to Outperform from Market Perform with a $59 target on valuation.

OTHER UPGRADES:

• Citigroup upgraded Adolor Corp (NASDAQ: ADLR) to Hold from Sell with a $10 target to reflect GlaxoSmithKline's (NYSE: GSK) plans for an additional advanced study of Entereg.

• Wachovia upgraded shares of Symmetry Medical Inc (NYSE: SMA) based on analysis that shows inventory levels have fallen at large-cap orthopedics firms while capital expenditures have stabilized, competitors are more upbeat on market outlook, and checks that indicate the supplier market has stabilized.

• Foundry Networks, Inc (NASDAQ: FDRY) was upgraded to Buy from Neutral at Bank of America.

• JP Morgan upgraded Alaska Communications Systems Group (NASDAQ: ALSK) to Outperform from Neutral on valuation.

• Goldman Sachs upgraded PPG Industries (NYSE: PPG) to Buy from Neutral with an $82 target.

• Merrill Lynch upgraded shares of Expedia, Inc (NASDAQ: EXPE) to Buy from Neutral with a $27 target.

• Matrix USA upgraded AMR Corp (NYSE: AMR) to Hold from Sell on valuation.

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