Cisco Systems Inc. (NASDAQ: CSCO) reported earnings Wednesday after close, beating estimates, but warning that incoming orders declined dramatically -- 20% -- in January. For the quarter, Cisco reported earnings of 32 cents per share excluding items, beating the average analyst estimate by 2 cents. CSCO shares declined 3.4% in premarket trading.

Swiss Reinsurance Co. will get a capital injection of $2.6 billion from Warren Buffett's Berkshire Hathaway (NYSE: BRK.A) after warning investors it expects to lose $869 million for the full year. The investment will pay a 12% coupon and could convert into a stake of more than 20% in the company.

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

• Activision Inc. (NASDAQ: ATVI) beat Q4 expectations and raised its fiscal 2009 guidance.
• Air France-KLM swung to a loss in the fourth quarter and warned of tough times ahead.
• BJ's Wholesale Club (NYSE: BJ) Q1 earnings soared, beating expectations, and it raised its forecast.
• Canadian Solar Inc. (NASDAQ: CSIQ) beat Q1 estimates on robust demand and favorable exchange rates.
• Foot Locker Inc. (NYSE: FL) Q1 profit declined, hurt by an impairment charge and nearly flat sales.
• Gap Inc. (NYSE: GPS) beat Q1 earnings estimates by managing costs and inventory.
• Home Depot Inc. (NYSE: HD) Q1 earnings tumbled on a one-time charge and the housing slump.
• Intuit Inc. (NASDAQ: INTU) beat Q3 expectations and announced a share buyback program.
• Lenovo Group Ltd. (OTC: LNVGY) Q4 earnings more than doubled on strong global distribution.
• Lowe's Companies Inc. (NYSE: LOW) reported a so-so first quater in line with Wall Street expectations.
• NetEase.com Inc. (NASDAQ: NTES) Q1 earnings declined due to increased tax burden.
• Saks Inc. (NYSE: SKS) missed Q1 earnings estimates but beat revenue expectations.
• Solarfun Power Holdings Co. (NASDAQ: SOLF) Q1 revenue surged 529% from the previous quarter.
• Suntech Power Holdings Co. (NYSE: STP) Q1 revenues soared and earnings more than doubled.

Additional earnings highlights:
Hewlett-Packard, Target, Barnes & Noble, Campbell, Staples and others
Ford, Hormel, Limited Brands, Intuitive Surgical, PetSmart and others

Upcoming results to watch for include Borders (NYSE: BGP), Polo Ralph Lauren (NYSE: RL), TiVo (NASDAQ: TIVO), Big Lots (NYSE: BIG), Costco (NASDAQ: COST), Dell (NASDAQ: DELL), HJ Heinz (NYSE: HNZ), Sears (NASDAQ: SHLD), Lions Gate (NYSE: LGF), and Tiffany (NYSE: TIF).

Visit AOL Money & Finance for more earnings coverage.

MAJOR PAPERS:

• Kohlberg Kravis Roberts & Co and Goldman Sachs Group (NYSE: GS) may not go through with their expected buyout of Harmon International Industries (NYSE: HAR), according to the Wall Street Journal, as a result of the credit crisis and lower results at Harmon.
• The Financial Times reported that Chinese PC maker Lenovo Group (OTC: LNVGY) is open to acquiring companies, but buying companies is not a top priority, according to Lenovo CEO Bill Amelio.

OTHER PAPERS:

• The Guardian reported that Google Inc (NASDAQ: GOOG) is considering a move into the U.K. wireless market after regulator Ofcom proposed taking back over a third of the mobile phone spectrum that Vodafone Group (NYSE: VOD) and O2 have been using for 22 years to auction it for new entrants.
• From BusinessWeek's "Inside Wall Street" column:
  
• How much higher can Apple Inc (NADSAQ: AAPL) go? Of the 27 analysts who track Apple, 23 still recommend buying it, 4 rate it a hold, while none advise selling it.
• A week after Boone Pickens disclosed a 9.9% stake in InterOil Corporation (NYSE: IOC), the stock gushed from $28 on Aug. 8 to $40.75 on Aug. 13, the day the oil-and-gas explorer disclosed it found evidence of oil in its Elk-2 well in Papua New Guinea.
  
• Bioenvision Inc (NASDAQ: BIVN), the small biotech that Genzyme Corporation (NASDAQ: GENZ) agreed to acquire in May at $5.60 a share, may not close on the deal unless Genzyme raises its offer.

Just when you thought the exploding lithium-ion battery problem was over, Gateway, Inc. (NYSE: GTW) has thrown its laptop into the ring.

Gateway announced yesterday that it is voluntarily recalling around 14,000 Samsung-made laptop battery packs that were sold for three months in 2003. The problem, according to Gateway, is that the lithium-ion battery packs can overheat, potentially causing a fire.

That's hot.

Over 10 million lithium-ion batteries have been recalled worldwide since 2006. The recall has hit computer companies blindly, including Sony Corp (NYSE: SNE), Dell Inc (NASDAQ: DELL), Apple Inc (NASDAQ: AAPL), Lenovo Group (OTC: LNVGY), and Toshiba Corp (OTC: TOSBF). Now Gateway.

"Chinese stocks are deep in bubble territory," notes John Christy, editor of The Forbes International Investment Report. Despite his concerns, he still sees select opportunities suggests several long-term buys in the region.

The advisor explains, "The Shanghai Composite Index -- which is limited mainly to local Chinese investors - is up more than 50% this year. It's only a matter of time before we see a huge correction, if not a crash."

But, he adds, that doesn't mean that all things Chinese should be avoided. Christy states, "China-related stocks that are listed in Hong Kong and here in the U.S. are still attractive if you are willing to stomach a little volatility in the short term." Included on his list of top long-term China holdings are Lenovo (OTC: LNVGY) and China Mobile (NYSE: CHL).

Lenovo, he notes, missed the China bubble entirely, despite he says, being the country's top PC maker. The company, he notes, just announced a new round of restructuring which will involve 1,400 job cuts-roughly 5% of its workforce in the coming year.

Says Christy, "Lenovo is still struggling to reap the full benefit of its acquisition of IBM's personal computer business. At the same time, it is trying to refashion its identity from a small Chinese PC maker to a truly global brand. These are not easy tasks and they will take time, but Lenovo is on the right track."

The advisor also looks to China Mobile, which he notes is is the country's leading cellular service provider. He says, "CHL is growing rapidly and offers tremendous long-term potential." However, it cautions that is not "especially cheap" at current levels and suggests patience for a better entry point.

In addition, he also looks toward Hutchison Telecom (NYSE: HTX), which he notes moved to a profit positon in the first quarter. He observices, While it is not a China play, it has operations in Hong Kong as well as other rapidly growing Asian markets such as Vietnam and Indonesia."

For more stock picks from the leading financial newsletter advisors, visit Steven Halpern's free daily website, TheStockAdvisors.com.

MOST NOTEWORTHY: GlaxoSmithKline plc (GSK), RF Micro Devices, Inc (RFMD), BMC Software, Inc (BMC) and Tween Brands Inc (TWB) were today's noteworthy upgrades:

• GlaxoSmithKline (NYSE: GSK) was upgraded to Hold from Sell at Societe General on valuation.

• Jefferies upgraded shares of RF Micro Devices (NASDAQ: RFMD) to Buy from Hold and raised the target to $9.00 from $7.00 after their channel checks indicated RFMD's business has improved since its last earnings call.

• Cowen raised BMC Software (NYSE: BMC) to Neutral from Underperform citing valuation and improvements in the cash flow for their upgrade.

• Susquehanna upgraded Tween Brands (NYSE: TWB) to Positive from Neutral based on Justice's performance and recent buyback activity...

OTHER UPGRADES:

• Lenovo Group Ltd (OTC: LNVGY) was upgraded at Credit Suisse to Neutral from Underperform; JP Morgan upgraded Lenovo to Overweight from Neutral.

• Morgan Keegan upgraded Symmetricom, Inc (NASDAQ: SYMM) to Outperform from Market Perform.

• Goldman upgraded CDI Corp (NYSE: CDI) to Buy from Neutral.

• Stifel raised MedCath Corp (NASDAQ: MDTH) to Buy from Hold.

• Soleil upgraded VA Software Corp (NASDAQ: LNUX) to Hold from Sell.

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

MAJOR PAPERS:

• The Financial Times (subscription required) reported that General Motors Corporation's (NYSE: GM) CEO Rick Wagoner expressed caution about the possibility of General Motors adding new brands or US manufacturing plants to its portfolio, remarks that are likely to quash expectations of an imminent GM bid for cross-town rival DaimlerChrysler AG (NYSE: DCX).
• According to the Financial Times, Nikko Cordial's largest investor has rejected Citigroup Inc's (NYSE: C) $11B takeover bid.
• Also in the Financial Times, 3M Corporation (NYSE: MMM) has filed infringement lawsuits against Sony Corporation (NYSE: SNE) and Lenovo (LNVGY), and others, including Hitachi Ltd ADR (NYSE: HIT), CDW Corporation (NASDAQ: CDWC) and Matsushita Electric Industrial Co Ltd (NYSE: MC).

OTHER PAPERS:

• India's Economic Times reported that Wipro Ltd ADS (NYSE: WIT) is said to be close to acquiring an unnamed U.S. aerospace services company for about $90M.
• According to the U.K. Times, Procter & Gamble Company (NYSE: PG) has said it is willing to team up with private equity firms to pursue deals.