The Labor Department's fishy report of 9.0% unemployment with only a few thousand jobs created almost didn't even matter today. Earnings gains drove shares and the losses seen in indexes earlier today were reversed by the end of the day with most indexes in positive territory. Everyone is focused on the Super Bowl this weekend.

Here were today's unofficial closing bell levels:


Dow Jones 12,092.15 +29.89 (0.25%)
S&P 500 1,310.87 +3.77 (0.29%)
Nasdaq 2,769.30 +15.42 (0.56%)

Analyst Upgrades

• Goldman upgraded Eaton (ETN) to conviction buy from neutral.
• AECOM Technology (ACM) was upgraded to outperform from neutral at Macquarie.
• Piper Jaffray upgraded Hologic (HOLX), Gen-Probe (GPRO) and Qiagen (QGEN) to overweight from neutral.
• GeoMet (GMET) was upgraded to accumulate from neutral at Global Hunter.
• Accretive Health (AH) was upgraded to outperform from neutral at RW Baird.
• Morgan Stanley upgraded Reinsurance Group (RGA) to overweight from equal weight.
• BofA/Merrill upgraded Clearwire (CLWR) to neutral from underperform.

Analyst Upgrades

• State Street (STT) was upgraded to buy from neutral at Goldman.
• Roth Capital upgraded Intel (INTC), Marvell Technology (MRVL) and Nvidia (NVDA) to buy from neutral.
• Bebe Stores (BEBE) was upgraded to buy from neutral at Janney Montgomery.
• W&T Offshore (WTI) was upgraded to buy from accumulate at Global Hunter.
• Citigroup upgraded International Rectifier (IRF) and Timberland (TBL) to hold from sell.
• Watson Pharma (WPI) was upgraded to buy from neutral at UBS.
• Atmel (ATML) was upgraded to strong buy from buy at Needham.
• Ashford Hospitality (AHT) was upgraded to outperform from neutral at RW Baird.
• Oppenheimer upgraded MetroPCS (PCS) to outperform from perform.

It will be a busy week. Republicans are poised to gain control of the House of Representatives and gain governorships in Tuesday's mid-term elections. Also, the Federal Reserve is expected to announce another round of quantitative easing Wednesday, following the FOMC meeting. Major retailers are scheduled to report October same-store sales Thursday, while the October unemployment rate, announced on Friday, is expected to remain at 9.6%.

Toyota's (TM) fiscal second-quarter results will be one of the highlights on the earnings front this week. After three periods of way underestimating Toyota's earnings, have the analysts surveyed by Thomson Reuters got it right this time? The stock sure could use a boost. Teva Pharmaceuticals (TEVA) is in a similar situation; i.e., high expectations for this week's quarterly results but a stock in need of a boost. Marathon (MRO) and Starbucks (SBUX) are also expected to post strong earnings growth this week, but both stocks are riding high.

Clearwire (CLWR - option chain) shares are rising today on reports that the company will auction some of its wireless spectrum in order to raise $2.5 billion to $5 billion. According to Bloomberg, potential bidders for the spectrum include AT&T (T), Verizon (VZ), Deutsche Telekom, Time Warner Cable (TWC) and Sprint (S). If you think that the stock won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on CLWR.

Analyst Upgrades

• Kaufman Bros. upgraded Yahoo! (YHOO) to buy from hold after channel checks indicated display advertising is seeing continued improvement in pricing and demand. The firm finds the risk/reward profile on Yahoo! shares attractive at current levels and raised its price target on the stock to $20 from $19.
• Citigroup upgraded Edwards Lifesciences (EW) to buy from hold following the company's investor meeting as it believes new product launches will serve as catalysts in 2010. Citi raised its target on shares to $101 from $72.
• Deutsche Bank upgraded BWAY Holding (BWY) to buy from hold following the company's Q4 results and raised its target on shares to $22 from $17.
• Clearwire (CLWR) was upgraded to buy from sell at Soleil.
• Nokia (NOK) was raised to hold from sell at Societe Generale.
• NCR Corp. (NCR) was upgraded at JPMorgan to overweight from neutral.

Analyst upgrades:

• Stephens upgraded Quidel (QDEL) to equal weight from underweight on valuation following the recent pullback in shares. The firm keeps a $16 price target on the stock.
• UBS upgraded Clearwire (CLWR) to neutral from sell, citing the company's funding, which increases opportunities. The firm raised its price target to $6 from $3.
• Oppenheimer upgraded Mattson Technology (MTSN) to outperform from perform on expectations the company will benefit from a cyclical recovery in memory capex spending in 2010. The firm raised its target on shares to $4 from $3.
• Eli Lilly (LLY) was upgraded to sell from conviction sell at Goldman.
• Kinross Gold (KGC) was upgraded to overweight from neutral at JPMorgan.
• Limited Brands (LTD) was upgraded to hold from sell at Soleil.

The vision of Clearwire (CLWR) is definitely ambitious: to "give you faster Internet at home, at work and on the go, so that people everywhere will have the magic of the Internet with them all the time." This means building a sophisticated network across the country, which does not come cheap.

Tuesday, Clearwire announced yet another financing round, which comes to $1.56 billion. The investors include Sprint Nextel (S), Comcast (CMCSA), Time Warner Cable (TWC), Intel (INTC), Eagle River Holdings LLC, and Bright House Networks LLC.

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.

Kirkland, Wash. based Clearwire Corporation (NASDAQ: CLWR) closed on a transaction in December which merged the Sprint/Nextel (NYSE: S) wireless Internet business with the WiMax business of CLWR.

In connection with the transaction, CLWR secured $3.2 billion from a group of investors linked to the development of the wireless broadband industry, including Comcast (NASDAQ: CMCSA), Google (NASDAQ: GOOG), Intel (NASDAQ: INTC) and Time Warner Cable (NYSE: TWX).

Clearwater is offering its broadband service under the label "Clear."

While operating in a competitive environment for WiMax (Worldwide Interoperability for Microwave Access), CWTR has an advantage over WiFi, which is limited to access in small areas, such as home or coffee shop. WiMax, on the other hand, offers access from a very broad area and while being mobile in a vehicle.

Though not as capitalized as competitors like Verizon (NYSE: VZ) or AT&T (NYSE: T), the company's relationship with its investors should give it access to capital when needed.

On Jan. 9, due to a significant drop in the market value of CLWR stock, Intel announced a writedown of its investment in CLWR of $950 million. Intel is only the first of the investment group to reflect this writedown in their guidance for the quarter.

Driven by accounting rules mandating that investments in stocks that decline significantly in value be written off, the other publicly traded companies with investments in CLWR will be required to follow suit.

In the face of these writedowns, investors have kept the price of CLWR depressed in spite of recent good news from the company. At around $4.60, the stock is trading near its 52-week low of $3.24, and well below its high of $7.20.

The company's balance sheet reflects its growth mode, with a long-term debt-to-equity ratio of 186 and a current ratio of 3.25.

Analyst upgrades:

• Cowen upgraded Aaron Rents (NYSE: RNT) to Outperform from Neutral and believes the company's business model is gaining momentum despite the difficult environment. The firm views valuation as attractive.
  
• Citigroup upgraded shares of MedCath (NASDAQ: MDTH) to Hold from Sell on valuation following the recent sell-off. The company's target was lowered to $9 from $19.
  
• Stanford upgraded AeroVironment (NASDAQ: AVAV) to Buy from Hold based on valuation and because they believe its visibility over the next year has improved.
• Chiquita Brands (NYSE: CQB) was lifted to Buy from Hold at BB&T.
  
• Chico's FAS (NYSE: CHS) was upgraded to Neutral from Sell at UBS.
  
• FCStone (NASDAQ: FCSX) was raised to Strong Buy from Outperform at Raymond James.

• RBC Capital downgraded Clearwire (NASDAQ: CLWR) to Sector Perform from Outperform based on reduced valuation parameters and lack of catalysts. The company's target was lowered to $9 from $15.
• Kellogg (NYSE: K) and Coca-Cola (NYSE: KO) were cut to Neutral from Buy at UBS.
  
• Evergreen Solar (NASDAQ: ESLR) was downgraded at JP Morgan to Underweight from Neutral.
• Deutsche Telekom (NYSE: DT) was downgraded to Neutral from Buy at Goldman and to Hold from Buy at Deutsche Bank.

Credit Suisse downgraded Cisco (NASDAQ:CSCO) to "neutral" from "outperform", according to Briefing.com. The news service also reports that Caris initiated CBS (NYSE:CBS) with a "below average", and set an $18 price target.

Clearwire (NASDAQ:CLWR) Started at Outperform at RBC Capital, according to 24/7 Wall St. The financial website also claims that CSX (NYSE:CSX) was raised to Buy from Neutral at Merrill Lynch

MOST NOTEWORTHY:

• Baird upgraded Puget Energy (NYSE: PSD) to Outperform from Neutral citing valuation on a stand-alone basis and sees additional upside if the merger with Macquarie is approved this fall.
  
• Piper upgraded shares of RC2 Corp (NASDAQ: RCRC) to Buy from Neutral following the Children's Publishing Division acquisition as they view it as a good strategic fit and find RCRC shares attractively valued.
  
• RBC upgraded Marvel Entertainment (NYSE: MVL) shares to Outperform from Sector Perform to reflect the company's visible earnings growth and valuation.

• ASML Holdings (NASDAQ: ASML) was raised to Buy from Neutral at Goldman. The firm also added shares to the Conviction Buy List.
  
• Invitrogen (NASDAQ: IVGN) was upgraded to Overweight from Neutral at JP Morgan.
  
• Citigroup upgraded Clearwire (NASDAQ: CLWR) and Credence (NASDAQ: CMOS) to Hold from Sell.