Analyst Upgrades

• Parker-Hannifin (PH) to buy from hold at Deutsche Bank.
• JDSU (JDSU) to buy from hold at Citigroup.
• Noble Corp. (NE) to overweight from neutral at JPMorgan.
• Cerner (CERN) to buy from hold at Auriga.
• Cintas (CTAS) to outperform from neutral at RW Baird.
• American States Water (AWR) to buy from hold at Brean Murray.
• National Semiconductor (NSM) and Texas Instruments (TXN) to positive from neutral at Susquehanna.
• Lululemon (LULU) to buy from hold at ThinkEquity.
• DuPont Fabros (DFT) to top pick from outperform at RBC Capital.

Sometimes, a big market washout like we had on Friday, when the S&P 500 fell 10 points and the Dow was down 170 points at its worst level, can reveal an awful lot about individual stocks. It's days like these when the winners stick out like sore thumbs and reveal just how much demand there is for their shares. On Friday, there was a collection of such stocks.

All the following names have had astounding gains in the past year, and it sure looks like they are prepared to continue on that same trajectory. These stocks stuck out like a sore thumb on Friday because of significant buying interest in a terrible broad market tape. None of the moves in these names was driven by news

Analyst Upgrades

• U.S. Steel (X) to buy from neutral and Barnes & Noble (BKS) to neutral from sell at Goldman.
• Salesforce.com (CRM) to buy from hold at Jefferies.
• Dollar Tree (DLTR) to overweight from equal weight at Barclays.
• Edison International (EIX) to hold from sell at Citigroup.
• Analog Devices (ADI) to overweight from neutral at JPMorgan.

Shares of communication equipment company JDS Uniphase Corp. (JDSU) are trading sharply higher in after hours trading today after posting strong fiscal second quarter results after the market closed.

Analysts were expecting to see earnings of $0.19 per share, but actual adjusted earnings were much higher at $0.29.

Friday was a day that felt more like a blast from the past rather than just another Friday in the markets. In short, it was a sea of red when it came to stocks. A less robust GDP figure was one thing, but the violence and rioting escalating in Egypt was much larger. Earnings also contributed some, but Friday was a day of geopolitics. Oil and gold were higher on geopolitical concerns.

Here were the unofficial closing bell levels:

Dow Jones 11,823.70 -166.13 (-1.39%)
S&P 500 1,276.38 -23.16 (-1.78%)
Nasdaq 2,687.06 -68.22 (-2.48%)

Top Analyst Upgrades & Downgrades

Analyst Upgrades

• Google (GOOG) to outperform from neutral at Wedbush.
• Nike (NKE) to buy from neutral at UBS.
• Apollo Group (APOL) to market perform from underperform at FBR Capital.
• JDSU (JDSU) to overweight from neutral at Piper Jaffray.
• NetApp (NTAP) to overweight from equal weight and Verigy (VRGY) to equal weight from underweight at Barclays.
• RSC Holdings (RRR) to outperform from neutral at RW Baird.
• Exelon (EXC) to buy from hold at Jefferies.
• Aon (AON) and Willis Group (WSH) to outperform from market perform at Keefe Bruyette.
• BMC Software (BMC) to outperform from neutral at Cowen.

Most of the S&P 500 companies have already reported earnings results for the most recent quarter. But scheduled to release their results this week are Medtronic (MDT) and Novell (NOVL), which analysts surveyed by Thomson Reuters expect to post earnings per share (EPS) about same as last year, as well as JDS Uniphase (JDSU), Patterson Companies (PDCO) and Tiffany & Co. (TIF), for which analysts foresee year-over-year earnings growth. Of these, the expectations are highest for Tiffany.

During the three months that ended in July, Tiffany launched an iPhone app and increased its quarterly dividend. Analysts expect the New York-based specialty retailer to report that earnings per share came to 53 cents, a 26.4% increase from a year earlier. Second-quarter revenue is expected to have grown 12.8% to $690.8 million. So far, analysts predict full-year earnings of $2.61 per share (+22.9%) on $3.0 billion (+11.8%) in revenue. Earnings results topped consensus estimates in four of the past five quarters, by 11 cents per share in the first quarter.

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

• Anadarko Petroleum Corp. (NYSE: APC) reported that its Q4 profit tripled but it fell short of estimates.
• Biogen Idec Inc. (NASDAQ: BIIB) met earnings estimates but it is getting more pressure from Carl Icahn.
• BP (NYSE: BP) surprised Wall Street with a multibillion dollar Q4 loss due to lower oil prices.
• Cisco Systems Inc. (NASDAQ: CSCO) beat Q2 estimates but warned that incoming orders have declined.
• Dick's Sporting Goods Inc. (NYSE: DKS) reaffirmed its previous Q4 guidance, which pleased investors.
• Estee Lauder Companies Inc. (NYSE: EL) topped Q2 earings estimates and it announced job cuts.
• Humana Inc. (NYSE: HUM) Q4 earnings fell on higher claim expenses and lower investment income.
• JDS Uniphase Corp. (NASDAQ: JDSU) adjusted earnings were in line with estimates but revenue fell.

Toyota Motor Corp. (NYSE: TM) said it racked up a loss of 164.7 billion yen ($1.81 billion), down sharply from the 458.6 billion yen profit it had the same period the previous year as quarterly sales plunged 28.4%. The world's largest automaker said it was heading for its first annual net loss since 1950 because of plunging global sales and the strong yen. TM shares declined 4.9% in premarket trade.

News Corp. (NYSE: NWS) shares sank over 9% in pre-market trading after it reported Thursday after the close its biggest quarterly loss. While most of it was due to a writedown, it still missed the 19 cents expected earnings per share when it reported earnings of 12 cents per share excluding items. Revenue declined 8.4%, also missing estimates.

Despite a negative GDP report coming in at -0.3% to begin that start of the recession, stocks actually spent most of the day in the black. The Treasury has finally started paying TARP funds out to large banks, and the second tier banks are next in line. Oil is contained, and an old and haggard looking T. Boone Pickens gave an interview this morning saying he was out of oil but thinks oil will go back to $100.00 next year.

Here are today's closing bell levels:
DJIA: 9,180.69 (+2.11%)
NASDAQ: 1,698.52 (+2.49)
S&P 500: 954.09 (+2.58)

Top Analyst Upgrades
Top Analyst Downgrades

Biogen Idec Inc. (NASDAQ: BIIB) shares were down over 5% at $39.68 right before the close, but that is better than the -1% at one point after yesterday's close. The biotech giant disclosed a US-case of PML that was detected early via MRI in one of its TYSABRI patients.

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

• Aeropostale Inc. (NYSE: ARO) strong Q2 results were in line with analysts' expectations.
• BHP Billiton Ltd. (NYSE: BHP) reported a record annual profit on demands for commodities in China.
• Burger King Holdings Inc. (NYSE: BKC) beat Q4 expectations despite struggling with commodities costs.
• Foot Locker Inc. (NYSE: FL) reported that it easily beat earnings expectations for the second quarter.
• GameStop Corp. (NYSE: GME) reported strong Q2 results despite a decline in gross margins.
• Hershey Co. (NYSE: HSY) narrowed its 2008 guidance due to rising costs of commodities.
• HJ Heinz Co. (NYSE: HNZ) Q1 results topped analysts' estimates and raised its full-year guidance.
• JDS Uniphase Corp. (NASDAQ: JDSU) offered disappointing quarterly results and Q1 guidance.
• Limited Brands Inc. (NYSE: LTD) reported better-than-expected Q2 results and boosted its forecast.
• Novatel Wireless Inc. (NASDAQ: NVTL) fell short of estimates, leading to a new 52-week low.
• Saks Inc. (NYSE: SKS) reported a smaller-than-expected Q2 loss and forecast lower operating margins.
• Staples Inc. (NASDAQ: SPLS) warned of lower profits due to continued challenging market conditions.
• Zumiez Inc. (NASDAQ: ZUMZ) warmed of weakness in the second half, including lower same-store sales.

For more earnings highlights from this week, see: Home Depot, Lehman, Hewlett-Packard, Gap, BJ's and others

Upcoming quarterly reports include Big Lots (NYSE: BIG), Borders (NYSE: BGP), Rio Tinto (NYSE: RTP), Tivo (NASDAQ: TIVO), Novell (NASDAQ: NOVL), Dell (NASDAQ: DELL), Sears (NASDAQ: SHLD), and Tiffany (NYSE: TIF).

Visit AOL Money & Finance for more earnings coverage.

It seemed that our streak of gains wasn't even going to make it two days, but this afternoon buyers were able to come to the rescue. A more than $5 rise in oil was much better tolerated than in weeks past as geopolitical concerns are rising because of US-Russia tensions.

Here are today's unofficial closing bell levels:
DJIA 11,428.50 (+11.07)
S&P500 1,277.53 (+2.99)
NASDAQ 2,380.38 (-8.70)
10YR T-Note 3.838% (+0.039%)
52-week lows
Top Analyst Upgrades
Top Analyst downgrades

Barry Diller's IAC/Interactive (NASDAQ: IACID) finally completed its spin-offs into five operating units and completed its effective reverse splits. According to the data, the shares were up 8% at $16.60 in today's final minutes. Here is a full breakdown of the new companies with tickers and operations.

After the FOMC tankeroo yesterday, would you have ever guessed that this would be such a great market day? Well it was. Oil falling almost $1.00 to $112.52 and gold back down to almost under $850/ounce are helping. It looks like traders are piling back on the "stuff and money" rather then commodities and a weak dollar. With the huge move today, you have to wonder where it all came from as the calls and the news was lighter than on many days. Below are the unofficial closing prices from 4:00 PM EST:

• Dow 13,011.06 +190.93 +1.49%
• S&P 500 1,409.06 +23.47 +1.69%
• NASDAQ 2,480.71 +67.91 +2.81%
• 10YR-TBond 3.749% (-0.01%)
• 52-WEEK LOWS.

Apache Corporation (NYSE: APA) fell after a doubled net income failed to meet estimates. They generated a net income of $1.02 billion or $3.03 EPS compared to $492.9 million, or $1.47 EPS first quarter 2007. Average estimates by Thomson expected EPS of $3.06. Outlook for production in 2008 was also more conservative. Shares lost 6% to $126.41.

NetManage (NASDAQ:NETM) is up 66% on word of a buy-out from Micro Focus.

Symantec (NASDAQ:SYMC) is up almost 5% on good earnings.

Network Equipment (NYSE:NWK) is off 17% on poor earnings.

JDS Uniphase (NASDAQ:JDSU) is down 13% after missing Wall St. estimates.

Las Vegas Sands (NYSE:LVS) is off 10% due to a poor quarter.

Stocks may traded differently in the pre-market than they do in the regular session.

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

Merrill Lynch downgraded both Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) from "neutral" to "sell," according to Briefing.com. The news service also reports that Morgan Stanley downgraded Best Buy (NYSE: BBY) to "underweight" from "equal weight."

JDS Uniphase (NASDAQ: JDSU) started as "market perform" at Morgan Keegan, according to 24/7 Wall St. The website also wrote that Williams Companies (NYSE: WMB) was raised to "outperform" at RBC Capital Markets.

Douglas A. McIntyre is an editor at 24/7Wallst.com.