This week, JCPenney (JCP), Kohl's (KSS) and Macy's (M) are the first of the major retailers to report results for the most recent quarter.

Macy's launched an American Express credit card and increased its mobile presence during the fiscal fourth quarter. The analysts surveyed by Thomson Reuters forecast Macy's earnings for that period come to three cents per share, which compares to a net loss of three cents per share in the same period of last year. The Cincinnati-based department store operator is expected to post revenue of $5.6 billion for the three months that ended in October, which is 5.2% more than a year earlier. For the full year, the forecast calls for earnings of $1.50 per share (+6.7%) and $8.2 billion in revenue (+4.3%). Macy's earnings results have been better than expected in recent quarters by a penny or a few per share.

Analyst Upgrades

• Barclays upgraded Western Digital (WDC) to overweight from equal weight.
• LDK Solar (LDK) was upgraded to buy from hold at Needham.
• Legg Mason (LM) was upgraded to outperform from neutral at Macquarie.
• Agilent (A) was upgraded to buy from hold at Stifel Nicolaus.
• Wells Fargo upgraded Dean Foods (DF) to outperform from market perform and Developers Diversified (DDR) to market perform from underperform.
• Deutsche Bank also upgraded Developers Diversified, to buy from hold.
• Northrop Grumman (NOC) was upgraded to sell from conviction sell at Goldman.
• MYR Group (MYRG) was upgraded to buy from hold at BB&T.

Analyst Upgrades

• Piper Jaffray upgraded Salesforce.com (CRM) to overweight from neutral, citing valuation following the recent sell-off and strong business trends. The firm has a $115 price target for shares.
• Keefe Bruyette upgraded M&T Bank (MTB) to market perform from underperform on valuation after AIB sold its stake in the company. The firm has a $72 price target for shares.
• Jefferies upgraded OGE Energy (OGE) to buy from hold following the announcement that ArcLight will purchase 9.9% of OGE's interest in Enogex for $183M and believes this deal highlights the hidden value associated with Enogex. The firm raised its price target to $51.50 from $43.
• Thomas & Betts (TNB) was upgraded to outperform from perform at Oppenheimer.
• Bayer (BAYRY) was upgraded to buy from neutral at UBS.
• Texas Roadhouse (TXRH) was upgraded to outperform from neutral at Baird.

Analyst Upgrades

• Bernstein upgraded Boeing (BA) to outperform from market perform, citing valuation. The firm also raised its price target to $81 from $80.
• Wells Fargo upgraded Thomas & Betts (TNB) to outperform from market perform, citing valuation and an expected recovery in North American nonresidential construction.
• RBC Capital upgraded Susquehanna (SUSQ) to outperform from sector perform and has a $14 target on the stock. The firm thinks the stock's valuation is attractive as its decline in response to the European debt crisis and financial regulatory reform has been overdone.
• Priceline.com (PCLN) was upgraded to buy from hold at KeyBanc.
• Genzyme (GENZ) was upgraded to neutral from underweight at JPMorgan.
• RightNow (RNOW) was upgraded to overweight from market weight at Thomas Weisel.

Quarterly reports continue to roll out this week, with results due from Allstate Corp. (ALL), Coca-Cola Co. (KO), Marriott International Inc. (MAR), Molson Coors Brewing Co. (TAP), New York Times Co. (NYT), Pepsico Inc. (PEP), Sprint Nextel Corp. (S), Viacom (VIA), Walt Disney Co. (DIS) and many others. Here's a look at a few of the companies that analysts surveyed by Thomson Reuters expect to be the biggest earnings gainers this week.

Analysts are looking for Coinstar Inc. (CSTR), which distributes coin-counting, DVD-rental, and other self-service kiosks, to report that its fourth-quarter earnings more than doubled from a year ago to $0.32 per share. Revenue for the three months that ended in December is expected to have jumped 26.1% to $329.2 million. The analysts' forecast for the full year calls for earnings of $0.94 per share (+46.8%) on $1.2 billion in revenue (+25.9%). Coinstar has beat earnings estimates in the past three quarters, by as much as six cents per share.

The conventional wisdom is that consumer spending is what drives the U.S. economy. And consumer spending arises out of consumer confidence. Unfortunately, the signals along the road to economic recovery are mixed, what with the rising GDP growth and the dismal unemployment numbers. Its enough to leave investors scratching their heads. What barometers of consumer confidence will the coming week bring?

The TIPP Economic Optimism Index for November is scheduled for Tuesday, and the University of Michigan Consumer Sentiment Index for November is due out Friday.

Analyst upgrades:

• Jefferies upgraded Consolidated Edison (NYSE: ED) to Buy from Hold on expectations the company will be able to reach a settlement with the New York PSC Staff that will provide benefits to both ratepayers and shareholders. The firm raised its target on shares to $46 from $40.50.
• Keefe Bruyette upgraded Public Storage (NYSE: PSA) to Market Perform from Underperform to reflect the company's balance sheet, industry leading position, and potential for accretive acquisitions. The firm raised its target on shares to $75 from $57.
• JPMorgan upgraded Big Lots (NYSE: BIG) to Overweight from Neutral to reflect valuation and industry data points that suggest a pick-up in discretionary spending. The firm has a $30 target on the stock.
• Alcoa (NYSE: AA) was upgraded to Buy from Hold at Deutsche Bank.
• East West Bancorp (NASDAQ: EWBC) was upgraded to Outperform from Market Perform at Keefe Bruyette.
• Bronco Drilling (NYSE: BDC) was upgraded to Neutral from Sell at UBS.

Analyst upgrades:

• Roth Capital upgraded MicroStrategy (NASDAQ: MSTR) to Buy from Hold and raised its target to $90 from $70, citing encouraging Q2 results, new product cycle catalysts, a lift from Europe, and cost reductions.
• William Blair upgraded Costco (NASDAQ: COST) to Outperform from Market Perform after meeting with management as it believes sales and earnings could beat expectations over the next year.
• Credit Suisse upgraded Novellus (NASDAQ: NVLS) to Outperform from Neutral and raised its target to $29 from $23. The firm cites higher Samsung capex forecast, high leverage, and low expectations.
• Home Properties (NYSE: HME) and Equity Residential (NYSE: EQR) were upgraded to Outperform from Market Perform at FBC Capital, while Douglas Emmett (NYSE: DEI) and Duke Realty (NYSE: DRE) were raised to Market Perform from Underperform.
• Agilent (NYSE: A) was upgraded to Overweight from Equal Weight at Barclays.
• Cytec Industries (NYSE: CYT) was upgraded to Buy from Hold at KeyBanc.

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.

Agilent Technologies (NYSE: A), a manufacturer of equipment for scientific testing, reported third quarter earnings on Monday after the bell. It was a challenging quarter for the business, but estimates were beat, at least.

Revenues fell 27%. Earnings on an adjusted basis likewise took a severe tumble, coming in at 15 cents per share. Agilent made well over three times that amount in the year-ago quarter. Here's the saving grace: according to Reuters, the company earned four more pennies than the average estimate.

As earnings season begins to wind down, some apparel retailers are scheduled to report quarterly results this week. Analysts polled by Thomson Reuters anticipate that Walmart Stores Inc. (NYSE: WMT), the 800-pound gorilla in the space, will report that it earned $0.77 per share in the first quarter, about the same as in the first quarter of last year. But JCPenney Co. (NYSE: JCP), Kohl's Corp. (NYSE: KSS), Nordstrom Inc. (NYSE: JWN), and Urban Outfitters Inc. (NASDAQ: URBN) are expected to report lower profits for the first quarter as consumers continued to hold off on spending. Macy's Inc. (NYSE: M) and Abercrombie & Fitch Co. (NYSE: ANF) are expected to have swung to a loss year over year.

Whole Foods Market Inc. (NASDAQ: WFMI) and Winn Dixie Stores Inc. (NASDAQ: WINN) are likewise expected to report declining earnings, while the Great Atlantic & Pacific Tea Co. (NYSE: GAP), parent of the A&P supermarket chain, is expected to have narrowed its net loss 68.9% to $0.28 per share.

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

• Agilent Technologies Inc. (NYSE: A) Q1 earnings were cut almost in half and were lower than expected.
• AT&T Inc. (NYSE: T) earnings expectations for 2010 resulted in an analyst's upgrade.
• BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) was downgraded following its Q4 earnings report.
• CBS Corp. (NYSE: CBS) beat Q4 earnings expectations but slashed its quarterly dividend.
• Crocs Inc. (NASDAQ: CROX) posted a smaller-than-expected Q4 loss but sales and gross margins fell.
• Deere & Co. (NYSE: DE) Q1 earnings and revenue fell and it offered guidance below estimates.
• Deutsche Telekom (NYSE: DT) was upgraded on confidence ahead of the company's earnings report.
• Hewlett-Packard Corp. (NYSE: HPQ) reported a bigger-than-expected drop in Q1 earnings.

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

• Agilent Technologies Inc. (NYSE: A) topped estimates but offered an outlook below expectations.
• Best Buy Co. (NYSE: BBY) warned that it many not be able to maintain its earnings momentum.
• Charlotte Russe Holding Inc. (NASDAQ: CHIC) was upgraded because of its growth potential.
• Focus Media Holding Ltd. (NASDAQ: FMCN) shares tumbled after it reported Q3 numbers.
• HLS Systems International (NASDAQ: HOLI) earnings prospects and management impressed an analyst.
• JCPenney Co. Inc. (NYSE: JCP) reported a lower Q3 profit and lowered its guidance due to the recession.
• KKR Financial Holdings (NYSE: KFN) disappointing Q3 results led to analyst downgrades.
• MercadoLibre Inc. (NASDAQ: MELI) doubled its Q3 profit and beat earnings expectations.
• Nortel Networks Corp. (NYSE: NT) swung to a Q3 net loss and unveiled further restructuring measures.
• Perry Ellis International Inc. (NASDAQ: PERY) posted preliminary Q3 results and lowered its outlook.
• Siemens (NYSE: SI) Q4 net loss widened and it warned about meeting its profit target for the year.
• Starbucks Corp. (NASDAQ: SBUX) Q4 earnings were hurt by restructuring costs, revenue rose slightly.
• Toll Brothers Inc. (NYSE: TOL) posted dismal Q4 results and declined to offer guidance for next year.
• Tyson Foods Inc. (NYSE: TSN) solid Q4 results fell short of estimates and it offered a shaky outlook.
• Wells Fargo & Co. (NYSE: WFC) earnings prospects following its equity offering led to an analyst's upgrade.

This post was written by Minyanville contributor Sean Udall.

Aglient Technologies (NYSE: A) just reported this morning and again the company is simply one of the best tech and science shops, which few talk about.

It guided lower but it was minor compared to most tech names of late. Also, A's stock is down about 35% vs. a space down 50% with many names down 65-80% off of highs so the value and durable earnings quality of A is providing some cover.

Circling back to market dynamics, I've contended many times about my view on the markets' four key problems and the difficulty in gaining traction while these are not yet solved. I won't reiterate this whole theme; however, it is noteworthy that we are so willing to spend $350 billion of the TARP while not addressing FAS 157 as well as the uptick rule. Changing these two issues costs the world "nothing". And they are either done with a "pen stroke or a few key strokes".

Yet changing these rules -- might just save the world billions in additional spending, doesn't require Congressional approval, doesn't require the Fed to expand the balance sheet, and lastly doesn't require more rates cuts which could prove quite inflationary.

"One group of stocks that has always intrigued us are those whose symbols have one letter," notes George Putnam. The editor of The Turnaround Letter explains, "Odd as this idea may at first seem, it actually makes some sense for a deep value investor. These are often old-line companies with well-known brand names. In some cases the single letter symbols were awarded many decades ago."

After reviewing the 19 stocks with single letter symbols (7 are currently unused), Putnam offers six that he says, have been "beaten down pretty badly and now look particularly appealing."'

"Agilent Technologies (NYSE: A), which makes electronic and bio-analytic measuring devices, was spun out of Hewlett-Packard in 1999. Revenues surged in 2000 as did the stock price, reaching a lofty 162.

"But the company subsequently suffered along with its customers in the communications and technology sectors. However, the financials are sound, including strong cash flow that is supporting a $2 billion share buyback, and management has been restructuring and realigning operations for long-term growth.