Safeway Inc. (NYSE: SWY), one of North America's largest food retailers, is scheduled to discuss its third quarter 2009 financial results in a conference call Thursday at 11:00 AM ET. You can catch the live webcast of the call on the company's website.

During the three months that ended in September, Safeway appointed new board members, offered seasonal flu shots, and declared a quarterly dividend. Analysts surveyed by Thomson Reuters expect this Pleasanton, Calif.-based grocer to report that earnings fell 34.8% from a year ago to $0.30 per share. Sales for the quarter are expected to be 7% lower to $9.5 billion.

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

• Adobe Systems Inc. (NASDAQ: ADBE) just beat low Q3 earnings estimates but revenue also declined.
• Best Buy Co. Inc. (NYSE: BBY) earnings fell short of estimates but revenue was better than expected.
• Cracker Barrel Old Country Store Inc. (NASDAQ: CBRL) posted better-than-expected Q4 earnings.
• Discover Financial Services (NYSE: DFS) posted a surprise Q3 profit but shares rose slightly on the news.
• Dress Barn Inc. (NASDAQ: DBRN) reported modest growth in both net income and revenue in Q4.
• FedEx Corp. (NYSE: FDX) said that its Q1 earnings and revenue dropped but its cash flow has improved.

Analyst upgrades:

• Citigroup upgraded Nucor (NYSE: NUE) to Buy from Hold to reflect its positive outlook for steel and expectations the company will return to profitability in Q4. Citi raised its target price on shares to $57 from $46.
• Oppenheimer upgraded Given Imaging (NASDAQ: GIVN) to Outperform from Perform to reflect solid PillCam Colon data and expected margin improvement. The firm has a $25 target on shares.
• Deutsche Bank upgraded Genworth (NYSE: GNW) to Buy from Hold following the $600M capital raise as it believes liquidity at the holding company has improved. The firm raised its target on shares to $18 from $7.
• Washington Federal (NASDAQ: WFSL) was upgraded to Outperform from Underperform at FBR Capital.
• Carnival (NYSE: CCL) was upgraded to Sell from Conviction Sell at Goldman.
• Anadarko Petroleum (NYSE: APC) was upgraded to Buy from Hold at Weeden.

Memphis-based package delivery giant FedEx Corp. (NYSE: FDX) is generally seen as an indicator of the state of commerce in the U.S. Last week, not only did the Fed's Beige Book report suggest that the economy had stabilized over the summer, with signs of recovery in some districts, But FedEx also boosted its earnings guidance due to stronger-than-expected volume in its international priority-delivery service. So a question going in to FedEx's fiscal first-quarter report this week is whether the company is still a bellwether.

For the three months that ended in August, when FedEx opened distribution hubs in Chicago and Toledo and declared a quarterly dividend, analysts surveyed by Thomson Reuters are looking for it to report that earnings fell 60.2% from a year ago to $0.49 per share. That's also down 23.4% from the previous quarter, as well as less than the recently updated outlook. First quarter revenue is expected to be down 18.3% from a year ago to $8.2 billion.

Analyst upgrades:

• Citigroup upgraded Brightpoint (NASDAQ: CELL) to Buy from Hold on expectations global handset units will trough in 2009, leading to a higher multiple for the stock. Citi raised its target on shares to $9 from $6.50.
• FBR Capital upgraded Rosetta Resources (NASDAQ: ROSE) to Outperform from Market Perform on valuation and believes drilling results in Q3 and Q4 should serve as near-term catalysts. The firm raised its target on shares to $15.
• Piper Jaffray upgraded Echelon (NASDAQ: ELON) to Neutral from Underweight following the company's contract announcement with Duke Energy (NYSE: DUK). The firm raised its target on shares to $10 from $6.
• Smith & Nephew (NYSE: SNN) was upgraded to Equal Weight from Underweight at Morgan Stanley.
• Schawk (NYSE: SGK) was upgraded to Neutral from Underperform at Baird.
• Alpha Natural (NYSE: ANR) was upgraded to Outperform from Market Perform at BMO Capital.

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

• Accenture Ltd. (NYSE: ACN) beat earnings expectations but revenue was hurt by currency effects.
• Bed Bath & Beyond Inc. (NASDAQ: BBBY) strong Q1 results beat estimates but same-store sales fell.
• CKE Restaurants Inc. (NYSE: CKR) lower Q1 earnings and strong sales both topped expectations.
• ConAgra Foods Inc. (NYSE: CAG) higher Q4 earnings were in line with expectations, and shares slipped.
• Darden Restaurants Inc. (NYSE: DRI) Q4 results were higher, but it warned of continuing challenges.
• Hennes & Mauritz (OTC: HMRZF) reported strong Q2 numbers, though same-stores sales slipped.

Kroger (NYSE: KR), a supermarket chain that competes with Wal-Mart (NYSE: WMT), Costco (NASDAQ: COST), and Supervalu (NYSE: SVU), issued its Q1 earnings report today. Not much came of it, though. The stock, as of this writing, isn't doing much in afternoon trading. Too bad for shareholders, because the bottom line beat the analysts.

According to the earnings preview from Michael Fowlkes, Kroger was expected to deliver around 61 cents per share. Well, Kroger earned 66 cents per share. The number improved last year's performance by 8 cents. Revenues were essentially flat. Same-store sales increased a little over 3%. When you think about it, Kroger did pretty well.

Kroger, the nations largest grocery chain, will be reporting its fiscal first quarter earnings tomorrow before the market opens.

The current slowdown in consumer spending has actually played into the hands of Kroger (NYSE: KR). Households have been cutting back on dinners at restaurants, and looking for cheaper ways to feed the family. As a result, grocery sales are up, and for Kroger, its name brand products have also been on the rise.

When we first noted a small-ish recall which were recalled yesterday and, at first blush, the alert looks as if it could be as widespread and enormous as the peanut butter recall (mollified a little by the fact peanuts are far more ubiquitous than pistachios). recall of canned pistachios early yesterday, it was limited to Kroger (NYSE: KR) and, frankly, made little in the way of waves. Later, the news began to hearken to the beginning of the peanut recall, in which I wondered how many foods could be impacted (oh, I had no idea!). The pistachio nuts' originator, Setton Pistachio of Terra Bella, Calif., decided to recall its 2008 crop after Kraft (NYSE: KFT) tested some of its pistachio-containing products and found "several types of salmonella." Where the possibly tainted pistachios ended up isn't clear, but Kraft pulled a trail mix with pistachios.

The nuts were sent in 1,000-pound and 2000-pound bags to wholesalers, who then parceled the pistachios further to redistribute them among retailers and manufacturers. As I wrote on DailyFinance, this is yet another example of a food industry that is built on logistics, not food; quality ingredients are marketing, not reality. Neither Kroger nor Kraft nor even (to point a finger at random) Unilever's Haagen-Dazs ice cream can trace to the individual farm the origin of all of their ingredients, no matter how many times the packaging mentions it.

It's further proof that food safety is not truly possible in the industry as it currently stands.

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

• Aeropostale Inc. (NYSE: ARO) reported strong Q4 numbers as same-store sales increased.
• American Eagle Outfitters Inc. (NYSE: AEO) same-store sales fell in Q4 but earnings met expectations.
• ArcSight Inc. (NASDAQ: ARST) continued its growth in Q3 and it forecast continued growth.
• Buckle Inc. (NYSE: BKE) posted a better-than-expected Q4 profit and continued same-store sales growth.
• Citigroup Inc. (NYSE: C) CEO said in a memo that it earned a profit in the first two months of this quarter.
• Dick's Sporting Goods Inc. (NYSE: DKS) beat Q4 earnings estimates but same-store sales fell.

Call me sentimental, but there are many things I miss about my old stomping grounds of Cincinnati, Ohio. The trendy but well-run restaurants lining the Hyde Park neighborhood. Joseph-Beth, the best bookstore I've ever entered. Certain karaoke bars. Cincinnati chili, of course.

And Kroger. Yes, Kroger Co. (NYSE: KR), headquartered in the Queen City, is the top grocery chain in the country, but has no locations in Chicago. I miss its store-brand crackers, its salad bar, and occasionally, even its commercials.

After testifying before a Senate committee about AIG (NYSE: AIG) last week, the Fed's Ben Bernanke participates in a Council of Foreign Relations event Monday evening.

Economic data due to be released this week include wholesale trade and job vacancies for January on Tuesday morning, the U.S. Treasury budget for February on Wednesday, retail sales for February and business inventories for January on Thursday morning, and the U.S. trade balance for January on Friday morning.

With all the gloom in the global economy, I got to wondering whether there is anything else going on in the world of business. I'm looking for growth because I think that's what will ultimately bring the economy out of the doldrums. Not surprisingly, that growth is coming from technology companies. In Growth Matters, I look at consumer technology companies that point the way to growth trends -- and in the process introduce services and products you may want to explore.

With people looking to save money, coupons are more important than ever. But wouldn't it be great if you could get the benefits of a coupon without clipping them and taking them with you shopping? If you have a cell phone, you can get this with Cellfire.

Kroger (NYSE: KR) closed at $21.32. KR will release Q4 results on March 10. KR March option implied volatility is at 49, July is at 44; above its 26-week average of 42, according to Track Data, suggesting slightly larger price movement.

BJ's Wholesale (NYSE: BJ) Wholesale closed at $28.26. BJ is expected to report Q4 EPS on March 4. BJ March option implied volatility is at 59; April is at 50; near its 26-week average of 55 according to Track Data, suggesting larger price movement into EPS.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

As John, Paul, George, and Ringo once said, "Money can't buy me love." While true, money can buy long-stemmed roses, expensive dinners, theater tickets, and jewelry. On the flip side, this money can be tucked away for a rainy day -- the fancy floral delivery replaced with daisies from the grocery store, the pricey meal forgone for the cozy neighborhood spot (or fondue at home).

Many of us have long criticized St. Valentine's Day as a holiday conceptualized and fueled by Hallmark and American Greetings (NYSE: AM). But even more of us fall into its trap, spending a nice chunk of change in mid-February to prove our affection to our significant other.