The shares of paint-supplier supreme Sherwin-Williams (SHW), first written about here on June 12, 2009, at a price of $55.10, have pulled back slightly, to about $82, but the dip looks like a healthy correction following an impressive 2010 rise.

Even so, if you haven't already, now may be a good time to consider taking some profits, if you're in near $55.

Those investors who can tolerate the risk can retain their full position, but keep in mind that top-side gains probably will be limited to the $100-level during this economic expansion.

The shares of paint-supplier supreme Sherwin-Williams (SHW), first written about here on June 12, 2009, at a price of $55.10, have accelerated out of a $65 low recorded this summer to trade about $83, and with the aforementioned in mind, now may be a good time to consider taking some profits, if you're in at/near $55.

Those investors who can tolerate the risk can retain their full position, but keep in mind that top-side gains probably will be limited to the $100-level during this economic expansion.

Analyst Upgrades

• General Electric (GE) and Barclays (BCS) to buy from neutral at UBS.
• Warnaco (WRC) to outperform from market perform and Melco Crown (MPEL) to market perform from underperform at Wells Fargo.
• Parker-Hannifin (PH) and Emerson Electric (EMR) to buy from neutral at Goldman.
• AMD (AMD) to buy from neutral at Nomura.
• Novellus (NVLS) and Sherwin-Williams (SHW) to equal weight from underweight at Morgan Stanley.
• OpenTable (OPEN) to outperform from market perform at Morgan Keegan.
• Skilled Healthcare (SKH) to buy from hold at Jefferies.
• Lear (LEA) to overweight from equal weight at Barclays.
• Adobe (ADBE) to buy from neutral at BofA/Merrill.

Sherwin-Williams (SHW - option chain) stock is trading lower today after the company reported third-quarter earnings this morning, posting a profit of $175.26 million, or $1.60 per share, on revenue of $2.172 billion. Analysts had forecast a profit of $1.68 per share on revenue of $2.18 billion.

Sherwin-Williams also cut the top end of its full-year forecast from $4.52 to $4.22 and issued Q4 guidance of $0.59 - $0.69, which is well under analysts' estimates of $0.80. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on SHW.

If you took the opportunity to take some profits off the table this summer with paint-supplier supreme Sherwin-Williams (SHW) it proved to be a wise move, as shares dipped from about $78 to the $72 level. However, I still like the shares, which I first wrote about here on June 12, 2009, at a price of $55.10.

Look for Sherwin to post a 6% to 8% 2010 revenue increase, after an 11% decline in 2009.

Totally unsexy paint-supplier Sherwin-Williams is not likely to grace the cover of Fortune or Forbes magazine anytime soon, but investors will accept the company's profits just the same.

Today, we have seen more than 7,500 April 70 calls change hands for 25 cents per contract, which was the asking price at the time (suggesting buying pressure). This compares to existing open interest of just 3,100. Breakeven for this particular strategy is $70.25, so the call buyer needs SHW to move nearly 7% higher by April 16 to put these calls in profitable territory.

You've heard the expression, 'It's about as exciting as watching paint dry.' Well, watching paint dry is exciting, if you own shares of Sherwin-Williams (SHW), first written about here on June 12, 2009 at a price of $55.10.

As noted earlier, totally unsexy paint-supplier Sherwin-Williams is not likely to grace the cover of Fortune or Forbes magazine anytime soon, but investors will accept the company's profits, just the same.

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

• Amazon.com Inc. (AMZN) better-than-expected Q4 numbers due to strong holiday sales of media products.
• BlackRock Inc. (BLK) reported strong Q4 results and doubled assets under management due to an acquisition.
• Caterpillar Inc. (CAT) shares fell despite better-than-expected Q4 earnings as guidance fell short of the Street view.
• DeVry Inc. (DV) reported better-than-expected Q2 numbers due to increasing enrollments, which lifted shares.
• EMC Corp. (EMC) reported strong Q4 results that beat the Street view and offered full-year guidance.
• General Dynamics Corp. (GD) Q4 results fell short of expectations and its guidance was less than estimates.

Let's check out some earnings reports from earlier in the week. We have Mattel (MAT), a toy business, Newell Rubbermaid (NWL), a consumer products company, and Sherwin-Williams (SHW), a supplier of fine paints. In all three cases, we'll see that technical concerns may outweigh fundamental strengths.

Mattel: Everyone loves toys, right? They're fun to play with. But no one wants to invest blindly in a stock even though it represents games and action figures. That's where the hard data come in. According to the fourth-quarter press release, Mattel made 89 cents per share, representative of an 80% increase. Incredible, huh? A higher gross profit and a better handle on operating efficiency drove the growth. Better commodity costs also helped out.

As noted earlier, unsexy paint-supplier Sherwin-Williams (SHW) is not likely to grace the cover of Fortune or Forbes magazine anytime soon, but investors will accept the company's profits, just the same, which is why I'm reiterating my buy rating for the company's shares, first recommended on June 12, 2009, at a price of $55.10.

Wall Street has started to notice the stock, but a considerable portion of the institutional investor community remains bearish, arguing that the U.S. housing sector's reduced size will weigh on paint results.

Relatively low-profile paint-supplier Sherwin-Williams (NYSE: SHW) certainly isn't the sexiest company. But hey, in this economy, somber but steady profits are just fine, thank you.

The company is on-schedule to benefit from a stabilizing U.S. housing sector. (And given the housing sector's pronounced recession over the past three years, signs of stabilization represent a considerable improvement, from a supplier industry standpoint.)

Men's Wearhouse (NYSE: MW) closed at $24.99 after reporting a mixed Q3 outlook. MW options were active on contract volume of 3,238. MW September option implied volatility is at 45, October is at 51; below its 26-week average of 71, according to Track Data, suggesting decreasing price movement.

Sherwin-Williams (NYSE: SHW) closed at $58.65 after KeyBanc lowered its rating on SHW to Hold from Buy. SHW options were active on contract volume of 11,680. SHW September and October option implied volatility of 31 is below its 26-week average of 39, according to Track Data, suggesting decreasing price movement.

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

Sherwin-Williams (NYSE: SHW) closed at $53.73. SHW is expected to report Q2 EPS on July 21. SHW options were active on 11,569 contracts. SHW July option implied volatility is at 35, August is at 39; below its 26-week average of 43, according to Track Data, suggesting decreasing price movement.

Wyndham (NYSE: WYN) closed at $11.02 WYN is expected to report Q2 EPS on July 29. WYN options were active on July 6 with 17,333 contracts trading. WYN July option implied volatility is at 70, August is at 68; below its 26-week average of 98 according to Track Data, suggesting decreasing price movement.

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

Just call paint manufacturer giant Sherwin-Williams Co. (NYSE: SHW) an anticipatory play.

Here, the play concerns the argument that analysts have projected an overly negative performance for SHW in F2009. Most see a 5 to 10% revenue decline, due to a contracting home sector, which has weighed on paint sales.

Analyst upgrades:

• Janney Montgomery upgraded Aqua America (NYSE: WTR) to Buy from Neutral on valuation, viewing the recent weakness as a buying opportunity. The firm has a $19 target on the stock.
• UBS upgraded Gildan Activewear (NYSE: GIL) to Buy from Neutral due to customer Broder's improved liquidity and the improved outlook for margins.
• RBC Capital upgraded State Street (NYSE: STT) to Top Pick from Outperform and raised its target to $55 from $40. The analyst said the $2B capital raise addresses TCE ratio concerns and large unrealized losses in the investment portfolio.
• Sherwin-Williams (NYSE: SHW) was upgraded to Overweight from Neutral at JP Morgan.
• Advance Auto Parts (NYSE: AAP) was upgraded to Buy from Underperform at Banc of America/Merrill.
• M&T Bank (NYSE: MTB) was upgraded to Outperform from Market Perform at Bernstein.