Analyst upgrades:

• Citigroup upgraded Cooper Industries (NYSE: CBE) to Buy from Hold on valuation as it believes commercial construction concerns are well known. The firm raised its target on shares to $40 from $37, and coupled the upgrade with a downgrade of Rockwell Automation (NYSE: ROK) to Sell from Hold.
• Credit Suisse upgraded BJ Services (NYSE: BJS) to Neutral from Underperform following its acquisition by Baker Hughes (NYSE: BHI). The firm raised its target to $17.
• Credit Suisse also upgraded Amkor Technology (NASDAQ: AMKR) to Outperform from Neutral and raised its target to $8 from $7. The firm expects Amkor to benefit from near-term strength in the supply chain and the mix shift towards higher value packaging.
• Textron (NYSE: TXT) was upgraded to Conviction Buy from Neutral at Goldman.
• Siemens (NYSE: SI) was upgraded to Neutral from Sell at UBS.
• Stanley Works (NYSE: SWK) was upgraded to Buy from Neutral at Janney Montgomery.

Jazz Technologies (AMEX: JAZ) is up 77% on a buyout by Tower Semiconductor.

China Sunergy (NASDAQ: CSUN) is up over 6% on strong earnings.

Amkor (NASDAQ: AMKR) is up almost 6% after announcing that it CFO would speak at a large investor conference.

Thornburg Mortgage (NYSE: TMA) is off 8% on news that its will have a sharp loss for the last quarter.

Douglas A. McIntyre is an editor at 247wallst.com.

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

• Activision Inc. (NASDAQ: ATVI) posted stellar results on the popularity of Guitar Hero and Transformers.
• Airgas Inc. (NYSE: ARG) beat Q4 estimtates with record earnings and raised its guidance.
• Amkor Technology Inc. (NASDAQ: AMKR) beat Q1 expectations on strong demand for wireless.
• Anadarko Petroleum Corp. (NYSE: APC) reported strong Q1 results that beat Wall Street estimates.
• Barnes Group Inc. (NYSE: B) beat Q1 expectations on its "global reach" and raised its 2008 guidance.
• Coinstar Inc. (NASDAQ: CSTR) beat Q1 expectations and raised its full-year guidance.
• DirecTV Group Inc. (NASDAQ: DTV) posted better-than-expected results and announced share buybacks.
• Double-Take Software (NASDAQ: DBTK) beat Q1 expectations and raised its Q2 and 2008 guidance.
• Goldcorp Inc. (NYSE: GG) profits surged in the first quarter on record high gold prices.
• ICON plc (NASDAQ: ICLR) beat Q1 expectations and raised its full-year guidance.
• Marvel Entertainment Inc. (NYSE: MVL) easily beat Q1 estimates and raised its full-year guidance.
• Molson Coors Brewing Co. (NYSE: TAP) reported a surge in Q1 profits that beat Wall Street estimates.
• Panera Bread Co. (NASDAQ: PNRA) beat Q1 expectations and lifted its Q2 and 2008 forecasts.
• Symantec Corp. (NASDAQ: SYMC) beat Q4 expectations and raised its Q1 outlook.
• Transocean Inc. (NYSE: RIG) Q1 profits more than doubled due to soaring oil prices.
• Unilever (NYSE: UL) posted strong results, with revenues beating estimates for the first time in six years.
• UTStarcom Inc. (NASDAQ: UTSI) released a preliminary guidance well above expectations.
• Walt Disney Co. (NYSE: DIS) posted better-than-expected results on success of its theme parks.

Amkor Technology (NASDAQ: AMKR) is a leading provider of semiconductor assembly and test services. The firm offers semiconductor companies and electronics manufacturers a complete set of microelectronics manufacturing services, including die bonding, wire bonding, chip encapsulation, and verification of function, current, timing, and voltage. Clients include IBM (NYSE: IBM), Intel (NASDAQ: INTC) and Texas Instruments (NYSE: TXN).

The company surprised the Street last week, when it reported Q1 EPS of 36 cents and revenues of $699.5 million. Analysts had been looking for 26 cents and $684.3 million. The CEO attributed success to customer demand for wireless communications and networking applications. Management also guided Q2 EPS to 32-36 cents (28 cent consensus) and Q2 revenues to about $706-$720 million ($700.6M consensus).

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

• Amkor Technology Inc. (NASDAQ: AMKR) easily beat estimates and raised its guidance.
• Crocs Inc. (NASDAQ: CROX) posted solid fourth-quarter results on strong overseas sales.
• DealerTrack Holdings (NASDAQ: TRAK) fourth-quarter revenue rose, but the credit crunch hurt results.
• Garmin Ltd. (NASDAQ: GRMN) fourth-quarter earnings soared on strong holiday sales.
• Gilat Satellite Networks Ltd. (NASDAQ: GILT) posted strong quarterly and full-year results.
• HJ Heinz Co. (NYSE: HNZ) raised its guidance productivity gains and favorable exchange rates.
• JAKKS Pacific Inc. (NASDAQ: JAKK) posted solid results, lifted by Hannah Montana and Disney toys.
• Marvel Entertaiment Inc. (NYSE: MVL) earnings doubled despite investment in films not yet released.
• Newmont Mining Corp. (NYSE: NEM) swung to a fourth-quarter loss despite rising gold prices.
• Safeway Stores Inc. (NYSE: SWY) met fourth-quarter earnings estimates, ending its best year since 2001.
• Wal-Mart Stores Inc. (NYSE: WMT) posted its first $100 billion quarter but lowered its forecast.

Also, Jim Cramer sees Hewlett-Packard as a market bellwether, and Ted Allrich looks at some other bellwether stocks. Sheldon Liber gets a sense of deja vu from Exxon Mobil's (NYSE: XOM) big profits and its tussle with Chavez.

Upcoming results to watch for include Nordstom Inc. (NYSE: JWN), Macy's Inc. (NYSE: M), Washington Post Co. (NYSE: WPO), Dell Inc. (NASDAQ: DELL), Sprint-Nextel Corp. (NYSE: S), and Sears Holdings Corp. (NASDAQ: SHLD).

Visit AOL Money & Finance for more earnings coverage.

Amkor Technology (NASDAQ: AMKR) is a leading provider of semiconductor assembly and test services. The firm offers semiconductor companies and electronics manufacturers a complete set of microelectronics manufacturing services, including die bonding, wire bonding, chip encapsulation, and verification of function, current, timing, and voltage. Clients include IBM (NYSE: IBM), Intel (NASDAQ: INTC) and Texas Instruments (NYSE: TXN).

The company surprised the Street last week, when it reported Q4 EPS of 46 cents and revenues of $747 million. Analysts had been looking for 28 cents and $700 million. Management also guided Q1 EPS to 25-29 cents (23 cent consensus) and Q1 revenues to about $680-$695 million ($676.10M consensus). Lehman Brothers subsequently reiterated its overweight rating.

Last December, over 100 stocks were featured in our Top Picks for 2007 report. Now, at mid-year, we turn to the 20 advisors whose picks showed the strongest gains to get an update on their previous picks, as well as a new favorite stock for the second half of the year.

Todd Salamone, editor with Schaeffer's Investment Research, chose Amkor Technology (NASDAQ: AMKR) as his top pick for 2007. Despite rising 55% as of June 1, 2007, he continues to recommend this stock as his ongoing favorite for the second half of the year.

The advisor explains, "Since the start of the year, the shares of Amkor have put in a stellar performance. The equity has enjoyed a monster uptrend since the start of year, pushing it up to levels not seen since April 2004. The stock has succeeded in bouncing off support at its ascending 10-week moving average and has since continued its rally along this trendline.

"During this time frame, the stock has tacked on more than 50%. Despite their gains, the shares could still be attractive to valuation players. The stock's price-to-earnings ratio comes in at 16, which is still well below the industry average of 30.

"Aiding the security's ascent has been a strong fundamental backdrop. On February 7, the company reported earnings of 30 cents per share, crushing its year-ago profit of 24 cents per share and the consensus analyst estimate of 23 cents per share, according to Reuters.

MORE NOTEWORTHY: InterMune, Inc (ITMN), Riverbed Technology, Inc (RVBD), Credence Systems Corp (CMOS) and MWI Veterinary Supply, Inc (MWIV) were today's more notable initiations:

• American Technology started InterMune Inc (NASDAQ: ITMN) with a Buy rating and $29 target as the firm believes the recent share weakness in InterMune provides a buying opportunity. The firm expects significant news flow from the ITMN-191 program over the next 12 months to provide positive catalysts to shares.

• Pacific Crest initiated Riverbed Technology Inc (NASDAQ: RVBD) with an Underperform rating and $22 target, citing valuation.

• Credit Suisse started Credence Systems (NASDAQ: CMOS) with an Underperform rating and $3 target.

• JP Morgan started MWI Veterinary (NASDAQ: MWIV) with an Overweight rating, saying industry fundamentals are favorable and MWIV's growth prospects are strong.

OTHER INITIATIONS:

• UBS & Merrill Lynch both started Duncan Energy Partners (NYSE: DEP) with a Neutral rating.

• Employers Holdings, Inc (NYSE: EIG) was initiated with an Equal-Weight rating at Morgan Stanley.

• Needham initiated Cascade Microtech, Inc (NASDAQ: CSCD) with a Buy rating and $18 target.

• Credit Suisse assumed coverage of Teradyne, Inc (NYSE: TER) and Amkor Technology (NASDAQ: AMKR) with a Neutral rating and $17 target.

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

Each year Steven Halpern, editor of TheStockAdvisors.com, surveys the leading financial newsletter advisors asking for their favorite stocks for the coming year. This article is part of his 24th annual Top Picks Report.

Amkor Technology (NASDAQ: AMKR), a semiconductor packaging and test services firm, is the top speculative idea for 2007 from Todd Salamone. The editor of Equity WealthBuilder notes, "Amkor shares have been on a tear, more than doubling as of mid-December.

"The rally began when Amkor restated its 2005 and first-quarter 2006 earnings reports with the SEC, which resolved a potential conflict with bondholders. A second bullish catalyst was record third-quarter sales and a third-quarter profit -- after reporting a loss in the third quarter the prior year.

"On the technical front, the stock had consolidated since July 2004 at its lowest levels this decade. Now, a combination of positive earnings surprises and strong technical momentum in the shares could attract momentum players, while its P/E of 10 may attract valuation players.

"With positive catalysts in place, strong price action during recent weeks, and the potential for valuation players to take notice, there is a very good possibility that the unwinding of negative sentiment surrounding these shares could drive a sustained trend higher.

MOST NOTEWORTHY: McAfee (MFE) and Amkor Technology (AMKR) top today's list of upgrades.

• UBS upgraded McAfee Inc. (NYSE: MFE) to Buy from Neutral with a $32 target. The firm believes that McAfee could be an acquisition target following the management departures and that the company could reinstate its buyback program after its financials are filed.
• Amkor Technology Inc. (NASDAQ: AMKR) was upgraded by Matrix USA to Strong Buy from Sell, citing strong demand for flip-chip and 3D packaging and testing, along with the stock's valuation. The broker sees upside to their $13/share intrinsic value.

OTHER UPGRADES:

• Bear Stearns upgraded UTStarcom Inc. (NASDAQ: UTSI) to Peer Perform from Underperform citing the higher likelihood of a restructuring or acquisition following the hiring of Merrill Lynch as their financial advisor.
• Goldman Sachs added Fidelity National Services Inc. (NYSE: FIS) to their Americas Buy List. The firm said shares of Fidelity National have underperformed due to the overhang from the FNF deal.
• And finally, Palm Inc. (NASDAQ: PALM) was upgraded to Strong Buy from Buy on valuation at Matrix USA.

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