Analyst upgrades:

• Bernstein upgraded General Electric (NYSE: GE) to Outperform from Market Perform Thursday after the close. The firm sees an improved risk/reward on the stock and raised its price target to $19 from $18.
• Bernstein also upgraded Amazon.com (NASDAQ: AMZN) to Outperform from Market Perform as it believes sales growth and margin expansion expectations are too low. The firm raised its target on shares to $160 from $125.
• Piper Jaffray upgraded CBS (NYSE: CBS) to Neutral from Underweight following the company's Q3 results and raised its target on shares to $13 from $12.
• JPMorgan upgraded Macy's (NYSE: M) to Overweight from Neutral to reflect the company's improving comps. The firm has a $23 target on the stock.
• Ansys (NASDAQ: ANSS) was upgraded to Buy from Hold at Jefferies.
• Travelers (NYSE: TRV) was upgraded to Buy from Neutral at Goldman.
• Air Methods (NASDAQ: AIRM) was upgraded to Overweight from Equal Weight at Stephens.

Analyst upgrades:

• FBR Capital upgraded Anadarko Petroleum (NYSE: APC) to Outperform from Market Perform to reflect upcoming catalysts and the company's opportunity in subsalt. FBR raised its target on shares to $60 from $50.
• Citigroup upgraded Marvel (NYSE: MVL) to Hold from Sell on expectations the acquisition by Disney (NYSE: DIS) will close. The firm raised its target on shares to $50 from $31.
• JPMorgan upgraded Cubic (NYSE: CUB) to Overweight from Neutral on expectations the company will benefit from the Vix ERG acquisition and increased sales visibility. The firm raised its target on shares to $43 from $38.
• Siemens (NYSE: SI) was upgraded to Outperform from Market Perform at Bernstein.
• Deutsche Telekom (NYSE: DT) was upgraded to Neutral from Underperform at Credit Suisse.
• Thompson Creek (NYSE: TC) was upgraded to Sector Outperformer from Sector Performer at CIBC.

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.

Earlier this morning, Deere & Co. (NYSE: DE) reported third-quarter earnings that dropped 27% as a result of falling sales during the past quarter. The farming equipment firm reported quarterly earnings of 99 cents per share, easily topping the consensus estimate of 57 cents per share.

While the results crushed the Street's estimate, it fell short of DE's year-ago performance. Quarterly revenue fell 24% compared to a year ago to $5.89 billion -- which again easily bested the consensus estimate for $5.25 billion.

Earnings season is winding down, but there is still some excitement left for earnings-confessional spectators. Up tomorrow ahead of the opening bell is Deere & Co. (NYSE: DE), manufacturer of agricultural machinery.

Analysts are expecting per-share results of 57 cents, which represents a drop of 57% from the $1.32 banked in the year-earlier period. Year-over-year quarterly revenue growth, however, has not endured quite as dramatic a fall, slipping 16.7%.

Analyst Upgrades

• Barclays upgraded Anglo American (NASDAQ: AAUK) to Overweight from Equal Weight based on a potentially higher bid from Xstrata (OTC: XSRAY) or a white night willing to pay a premium for the group, higher copper prices, and improving operating performance.
• Janney Montgomery upgraded Chiquita Brands (NYSE: CQB) to Buy from Neutral citing improved bagged salad margins, strong free cash flow, solid banana trends, and valuation. The firm has a $13 target on the stock.
• Wunderlich upgraded Legacy Reserves (NASDAQ: LGCY) to Buy from Hold due to the firm's belief that the back of the crude board is still very cheap, the firm's increased distribution outlook, and the movement of the stock after the discontinuation of the company's talks with Apollo.
• Deutsche Bank (NYSE: DB) was upgraded to Buy from Neutral at UBS.
• UBS (NYSE: UBS) was upgraded to Outperform from Neutral at Credit Suisse.
• Illinois Tool Works (NYSE: ITW) was upgraded to Outperform from Market Perform at Wachovia.

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

• Aeropostale Inc. (NYSE: ARO) beat profit expectations as revenue and same-store sales both increased.
• Aruba Networks Inc. (NASDAQ: ARUN) received an analyst's upgrade following its Q3 report.
• Buckle Inc. (NYSE: BKE) reported better-than-expected Q1 expectations as revenue surged.
• Campbell Soup Co. (NYSE: CPB) higher Q2 earnings beat expectations and sent shares upward.
• Deere & Co. (NYSE: DE) reported better-than-expected Q3 earnings, sending shares higher.

Deere (NYSE: DE) will be reporting numbers for the second quarter on Wednesday, May 20. Analysts aren't looking for expansion of the bottom line. Considering what Deere makes, it isn't surprising. We're still in a recession, and purchases of heavy equipment will obviously remain in an ambiguous state.

So, Wall Street is figuring on somewhere around $1.08 per share. That compares to $1.74 per share in the year-ago period. Last quarter, Deere didn't do so well, with its bottom line declining precipitously to 48 cents per share. Analysts had wanted to see 63 cents 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.

What was the reason for today's sell-off? Well, the answer is the same as it has been too many days: A culmination of bad news, weak data, bankruptcies, worries about banks and institutions, and that this recession is going to go on much longer than what the market is hoping for.

You might see the same explanation tomorrow if there is another sell-off. And next week. It is the same one from January and the same one from most of last year. Here are today's unofficial closing bell levels:

Dow 7,554.28 -296.13 (-3.77%)
S&P 500 789.35 -37.49 (-4.53%)
Nasdaq 1,470.66 -63.70 (-4.15%)

10YR T-Note
Top Analyst Upgrades & Downgrades

Among all the negative economic data that came out last week was a positive surprise: retail sales were higher in January. A fluke or a glimmer at the end of the tunnel? That may depend on whether we see any positive surprises arising from items on this week's economic calendar:

• Consumer Analyst Group of New York Conference: Monday through Friday
• NY Empire Manufacturing Index (Feb. 2009): Tuesday, 8:30 AM
• NAHB Housing Market Index (Feb. 2009): Tuesday, 1:00 PM
• Fed's Bullard speaks before National Association of Business Economists: Tuesday, 1:00 PM
• Housing starts (Jan. 2009): Wednesday, 8:30 AM
• Fed's Pianalto speaks before Commercial Developers Power Breakfast: Wednesday, 9:00 AM
• Industrial production (Jan. 2009): Wednesday, 9:15 AM
• Fed's Bernanke speaks before National Press Club Luncheon: Wednesday, 12:30 PM

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

• American Eagle Outfitters Inc. (NYSE: AEO) saw lower Q3 results in the tough retail envirnoment.
• Analog Devices Inc. (NYSE: ADI) Q4 profit surged but it lowered its Q1 forecast due to slowing orders.
• Borders Group Inc. (NYSE: BGP) had dismal Q3 results and said it had ceased its quest to sell itself.
• Campbell Soup Co. (NYSE: CPB) solid Q1 results beat estimates but shares fell despite a market rally.
• Deere & Co. (NYSE: DE) fell short of Q4 profit expectations and guidance was below estimates.
• Dollar Tree Inc. (NASDAQ: DLTR) had a bigger-than-expected Q3 profit and raised its full-year outlook.
• D.R. Horton Inc. (NYSE: DHI) reported a wider Q4 loss as home sales revenue declined by 50%.
• Hewlett-Packard Co. (NYSE: HPQ) posted strong Q4 numbers that didn't quite match the preliminary results.
• Salesforce.com Inc. (NYSE: CRM) had strong results and an optimistic forecast despite economic conditions.
• Starbucks Corp. (NASDAQ: SBUX) lowered its fiscal 2009 forecast and warned of further restructuring.
• Tiffany & Co. (NYSE: TIF) Q3 earnings declined but topped expectations, and it announced staff reductions.
• Warner Music Group Corp. (NYSE: WMG) Q4 earnings beat expectations though revenues fell slightly.
• Xerox Corp. (NYSE: XRX) forecast a full-year profit in line with estimates and said it is confident in its liquidity.

Upcoming earnings releases include Sears (NASDAQ: SHLD), Staples (NASDAQ: SPLS), Aeropostale (NYSE: ARO), Del Monte Foods (NYSE: DLM), Guess (NYSE: GES), Novell (NASDAQ: NOVL), Toll Brothers (NYSE: TOL), Big Lots (NYSE: BIG), Royal Bank of Canada (NYSE: RY).

Visit AOL Money & Finance for more earnings coverage.

The earnings season is beginning to wind down as we have passed the halfway mark of the quarter and the holiday season begins in earnest next week with Thanksgiving in the United States.

Bermuda-based Frontline Ltd. (NYSE: FRO) is anticipated by analysts surveyed by Thomson Reuters to be one of the biggest earnings gainers among companies scheduled to report quarterly results this coming week. The oil tanker fleet operator is expected to post third-quarter earnings of $1.97 per share, 86.8% higher than in the same period a year ago, on revenues of $399.5 million (+44.6%). Frontline missed estimates by 6.4% in the previous quarter, and the consensus recommendation by analysts is to hold FRO. While Motley Fool likes its robust dividend, Jim Cramer said in a recent Lightning Round that he prefers rival Nordic American Tanker Shipping Ltd. (NYSE: NAT). Shares have fallen 52.9% in the past three months, and reached a 52-week low of $25.00 on Friday.

Analog Devices Inc. (NYSE: ADI) is also expected to be among the week's biggest earnings gainers. Analysts are looking for the semiconductor chip maker to report a fiscal fourth-quarter profit of $0.44 per share, 31.8% higher than a year ago, on revenues of $661.7 million (+2.0%). Analog Devices has beat estimates in three of the past five quarters, but only missed by 1.3% in the previous quarter. Analysts on average recommend buying ADI, which has a forecast long-term EPS growth rate of 17.3%, which better than the S&P 500 and that of rival Texas Instruments Inc. (NYSE: TXN). Shares sank to a multiyear low of $16.23 on Friday, and are down 41.1% in the past three months.

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

• Albany Molecular Research Inc. (NASDAQ: AMRI) topped estimates and raised its full-year guidance.
• Applied Materials Inc. (NASDAQ: AMAT) Q3 earnings and revenues tumbled but beat low expectations.
• Deere & Co. (NYSE: DE) fell short of Q3 earnings expectations due to rising materials costs.
• Estee Lauder Cos. Inc. (NYSE: EL) posted strong Q4 results that led shares to a new 52-week high.
• Fossil Inc. (NASDAQ: FOSL) posted better-than-expected Q2 earnings and lifted its full-year forecast.
• JCPenney Co. Inc. (NYSE: JCP) Q2 profit slipped but still topped analysts' expectations.
• LDK Solar Ltd. (NYSE: LDK) Q2 net income soared, easily beating analysts' estimates.
• Liz Claiborne Inc. (NYSE: LIZ) rebounded from its tumble after its disappointing Q2 report.
• MBIA Inc. (NYSE: MBI) posted strong Q2 results despite downgrades of its financial ratings.
• Newcastle Investments Corp. (NYSE: NCT) despite negative earnings, it announced a quarterly dividend.
• Nvidia Corp. (NASDAQ: NVDA) posted dismal Q2 results and announced a share buyback program.
• Sysco Corp. (NYSE: SYY) Q4 earnings topped expectaitons on demand for bulk food products.
• TJX Cos. (NYSE: TJX) strong Q2 results fell short of expectations, as did the Q3 earnings forecast.
• Wal-Mart Stores Inc. (NYSE: WMT) topped Q2 estimates due to bargain seekers and international sales.

Also, Jim Cramer warns against bearishness on the financials and also suggests that the collapse of commodities will buoy earings.

For more highlights from this week, see: Abercrombie, Macy's, Kohl's, Sirius, UBS, Wachovia and others

Upcoming quarterly reports include Lowe's (NYSE: LOW), Home Depot (NYSE: HD), Hewlett-Packard (NYSE: HPQ), Target (NYSE: TGT), La-Z-Boy (NYSE: LZB), Saks (NYSE: SKS), BJ's Wholesale (NYSE: BJ), Limited Brands (NYSE: LTD), Barnes & Noble (NYSE: BKS), Burger King (NYSE: BKC), Gap (NYSE: GPS), Heinz (NYSE: HNZ), and Intuit (NASDAQ: INTU).

Visit AOL Money & Finance for more earnings coverage.

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

• Best Buy Inc. (NYSE: BBY) beat Q1 estimates as consumers spent their government stimulus checks.
• Carnival Corp. (NYSE: CCL) posted better than-expected Q2 results but offered cautious Q3 guidance.
• Cyberonics Inc. (NASDAQ: CYBX) beat Q4 expectations and offered full-year guidance.
• FactSet Research Systems (NYSE: FDS) had better-than-expected Q3 results and 500 new subscribers.
• General Mills Inc. (NYSE: GIS) raised its full-year guidance, sending shares up near the 52-week high.
• Goldman Sachs Group Inc. (NYSE: GS) results beat the previous quarter and analysts' estimates.
• John Wiley & Sons Inc. (NYSE: JW.A) doubled its Q4 earnings due to an acquisition.
• Life Partners Holdings Inc. (NASDAQ: LPHI) lifted its Q1 outlook after "best quarter" in company history.
• Lindsay Corp. (NYSE: LNN) Q3 profits nearly doubled, but the share price plunged anyway.
• Meade Instruments Corp. (NASDAQ: MEAD) narrowed its full-year net loss due to restructuring.
• Pall Corp. (NYSE: PLL) beat Q1 expectations on sales growth that was broadly based across markets.
• Titan Machinery Inc. (NASDAQ: TITN) beat Q1 estimates on strong demand for agricultural equipment.
• Vermont Pure Holdings Ltd. (AMEX: VPS) posted strong Q2 results despite a bad debt write-off.
• Western Union Co. (NYSE: WU) said 2008 profits would beat estimates and announced share buyback.

More earnings highlights from this week: Morgan Stanley, FedEx, Ford, GE, Circuit City and others