The new year 2010 will likely be a year characterized by a recovery in the personal computer market, and that's a major reason I'm reiterating my buy rating for Logitech International (LOGI), first recommended on April 13, 2009 at a price of $11.40. If you bought LOGI in April 2009, you're up a cool 52%.

Look for a very health 20-25% revenue increase for LOGI in 2010, on the continued recovery in PC sales. Logitech is a world leader in leveraging its ergonomic and tech-advance research across multiple platforms: keyboards, mice, game consoles, headsets, speakers, and remote controls, among others. Hence, almost any positive datapoint for desktop computers causes Logitech's shares to move north.

Back in 1981, Logitech (LOGI) began selling computer mice. It was excellent timing. Now, the company is the dominant player in the market for peripherals.

But to continue the growth, Logitech has been expanding into new categories. One of the biggest is video conferencing. In fact, Logitech has announced that it will pay $405 million for LifeSize Communications, which is a major player in the market.

Institutional Investors are acting as forecast with Logitech International SA (NASDAQ: LOGI): they're piling into the shares, hence, I'm Reiterating my Buy rating for the company, first recommended on April 13, 2009 at a price of $11.40. If you bought LOGI in April, you're up an impressive 52%.

Investors are looking right past FY2010's revenue decline, to a likely 15-20% increase in FY2011, on the continued recovery in PC sales. Logitech is a world leader in leveraging its ergonomic and tech-advancing research across multiple platforms: keyboards, mice, game consoles, headsets, speakers, and remote controls, among others. Hence, almost any positive data points for desktop computers causes Logitech's shares to move north.

I'm Reiterating my Buy rating for Logitech International SA (USA) (NASDAQ: LOGI), first recommended on April 18, 2009 at a price of about $12. If you purchased LOGI then, you're up an impressive 40%.

Logitech is a world leader in leveraging its ergonomic and tech-advancing research across multiple platforms: keyboards, mice, game consoles, headsets, speakers, and remote controls, among other products.

Just say it's time to scoop a few shares of Logitech. Most investors are aware of the internet's transformative properties. Well, Logitech is transforming the internet work experience into a more human-friendly environment.

Logitech (NYSE: LOGI) is a world leader in leveraging ergonomic and tech-advancing research across multiple platforms: keyboards, mice, game consoles, headsets, speakers, and remote controls, among others.

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

• Apollo Group Inc. (NYSE: APOL) posted its third straight quarter of growth as enrollment soared.
• Caterpillar Inc. (NYSE: CAT) earnings prospects will pick up after the first quarter, predicts Jim Cramer.
• Coach Inc. (NYSE: COH) lowered its guidance due to slower traffic and sales during the holiday season.
• EMC Corp. (NYSE: EMC) reaffirmed its revenue and earnings guidance and announced job cuts.
• Google Inc. (NASDAQ: GOOG) was upgraded as Wall Street's Q4 and full-year estimates came down.
• KB Home (NYSE: KBH) failed to narrow its loss as much as expected but beat revenue estimates.
• Logitech International (NASDAQ: LOGI) withdrew its guidance and said it was cutting its global workforce.
• Mosaic Co. (NYSE: MOS) posted strong Q2 results that easily beat earnings expectations (is it a buy?).
• Navistar International Corp. (NYSE: NAV) 2009 outlook fell short of estimates but it predicted 2010 growth.
• Premier Exhibitions Inc. (NASDAQ: PRXI) worse-than-expected Q3 numbers resulted in an downgrade.
• Satyam Computer Sciences Ltd. (NYSE: SAY) admited that it had been inflating earnings for years.
• Super Micro Computer Inc. (NASDAQ: SMCI) was downgraded after preliminary results missed estimates.
• Time Warner Inc. (NYSE: TWX) now expects a loss in 2008 rather than the profit in its previous guidance.
• WD-40 Co. (NASDAQ: WDFC) topped Q1 expectations but also lowered its guidance, sending shares lower.

For more earnings highlights, see Intel, Walmart, Chevron, Family Dollar, Monsanto and others

Upcoming earnings releases include Alcoa Inc. (NYSE: AA), Infosys (NASDAQ: INFY), Linear Technologies (NASDAQ: LLTC) , Xilinx (NASDAQ: XLNX), Genentech (NYSE: DNA), Intel (NASDAQ: INTC), Marshall & Ilsley (NYSE: MI), Sealy (NYSE: ZZ), Johnson Controls (NYSE: JCI).

Visit AOL Money & Finance for more earnings coverage.

ISM non-manufacturing and housing numbers were reported today and they remained weak, but the weakness was arguably not as bad as many were bracing for. Shares stayed up most of the day, although feelings were mixed despite the FOMC minutes showing something worse than a normal recession.

Here are today's closing bell levels:
Top Analyst Calls In Technology

Apple Inc. (NASDAQ: AAPL) fell almost 2% after the loved company announced price cuts to much of the iTunes offerings at Macworld today. It also seems that the large format Macbook with a 17" screen at nearly $2,700 may be a bit off the mark now that the nostalgia of thrift is full into the spirit of consumers.

General Electric Co. (NYSE: GE) managed to post gains today after the company announced that GECC would sell $4 billion in bonds with a spread of 400 basis points. The difference between this sale and the last one yesterday is that these carry no government backing.

Toyota Motor Corp. (NYSE: TM) said it is suspending production at all 12 of its Japan plants for 11 days over February and March. The once believed to be superior auto manufacturer and company has not been immune to the global economic slowdown that has caused such a deterioration in demand for cars, especially int he U.S. The stoppage is said to be of unprecedented scale for Toyota, which hasn't halted production at all its Japan plants was since August 1993.

Cigna (NYSE: CI) joined the slew of companies that have been announcing layoffs and workforce recuution in the past few month. The health benefits company said Monday that is was cutting 1,100 jobs, or 4% of its total workforce, to save up to $40 million.

Logitech (NASDAQ: LOGI) also said Monday that it was cutting 15% of its salaried work force, or 5% of its global workforce. The maker of computer products also withdrew its corporate guidance and didn't provide new earnings targets. LOGI's CEO urged caution for 2009.

Analyst upgrades:

• Whole Foods (NASDAQ: WFMI) was upgraded to Neutral from Sell at UBS.
  
• Archer Daniels Midland (NYSE: ADM) was upgraded to Equal Weight from Underweight at Barclays.
• AutoZone (NYSE: AZO) was raised to Buy from Neutral at Merrill Lynch.
• B. Riley upgraded S&T Bancorp (NASDAQ: STBA) to Buy from Neutral and lowered its target to $35 from $38 on valuation, as they believe the sell-off post-Q3 results is overdone.
  
• Jefferies upgraded GSI Commerce (NASDAQ: GSIC) to Buy from Hold on valuation after Q4 revenue guidance was reset lower. The firm lowered their target to $13 from $18.
  
• JP Morgan upgraded shares of DHT Maritime (NYSE: DHT) and General Maritime (NYSE: GMR) to Overweight from Neutral on the company's valuation and dividend stability.

Analyst downgrades:

• HSBC cut Prudential (NYSE: PUK) to Neutral from Overweight as they believe capital has eroded and debt refinancing is increasingly difficult.
  
• Freeport McMoRan (NYSE: FCX) was downgraded to Neutral from Buy at Goldman.
  
• Logitech (NASDAQ: LOGI) was lowered to Hold from Buy at Citigroup and to Neutral from Outperform at Credit Suisse.

Analyst upgrades:

• Keefe Bruyette upgraded shares of AllianceBernstein (NYSE: AB) to Outperform from Market Perform as they find AB's risk/reward attractive given its attractive long-term business model. Wachovia upgraded Watson Pharma (NYSE: WPI) and Teva Pharma (NASDAQ: TEVA) to Outperform from Market Perform citing valuations and positive drivers for generics that include patent expirations and market share expansion.
• UBS raised Lloyds TSB Group (NYSE: LYG) to Neutral from Sell on expected pricing power following the HBOS (OTC: HBOOY) acquisition.
• Otter Tail (NASDAQ: OTTR) was upgraded to Outperform from Neutral at Baird.
• GFI Group (NASDAQ: GFIG) was upgraded at Citigroup to Hold from Sell.
• Merrill upgraded Logitech (NASDAQ: LOGI) to Neutral from Underperform.

Analyst downgrades:

• JP Morgan downgraded shares of Lloyds TSB Group to Underweight from Neutral on capital concerns and believes the HBOS acquisition is not in the best interest of shareholders.
• Stephens downgraded Universal Truckload (NASDAQ: UACL) to Equal Weight from Overweight on valuation and concerns about a slowdown in the flatbed sector. The firm's target remains $28.

MAJOR PAPERS:

• A possible deal between Bank of America Corporation (NYSE: BAC) and Countrywide Financial Corporation (NYSE: CFC) has been seen as positive for the whole financial industry, the Wall Street Journal said, giving a lift to other weathered financial stocks including Washington Mutual Incorporated (NYSE: WM).
• The Wall Street Journal reported that several people familiar with negotiations believe ConocoPhillips (NYSE: COP) is in the lead to participate in a $10B, multi-year project to develop Abu Dhabi's Shah natural-gas field.
• According to a source familiar with the matter, the Financial Times reported that both strategic obstacles and antitrust reasons would make a Microsoft Corporation (NASDAQ: MSFT) bid for Logitech International SA (NASDAQ: LOGI) "hard to justify" and would "raise issues" because both are prominent players in the PC peripheral market.

OTHER PAPERS:

• Merrill Lynch & Co Inc (NYSE: MER) is expected to report $15B in losses from mortgage investments, prompting the firm to seek about $4B in additional capital from an outside investor, according to inside sources, the New York Times reported.

Logitech (NASDAQ: LOGI) is recently up $1.49 to $32.55 in pre-open trading on talk Microsoft (NASDAQ: MSFT) may launch a bid for LOGI.

LOGI, a producer of personal computer peripherals, will report EPS on 1/16/08.

LOGI overall option implied volatility of 58 is above its 26-week average of 37 according to Track Data, suggesting larger price risk.

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

MOST NOTEWORTHY: CAI International (CAP), ATS Corp (ATCT), Logitech International (LOGI) and Wireless Ronin (RNIN) were today's more noteworthy initiations:

• Piper Jaffray started CAI International (NYSE: CAP) with an Outperform rating and $18 target, believing the company is well positioned to capitalize on global trade growth. Jefferies started CAI Int'l with a Buy rating and $17 target.

• CRT Capital believes ATS Corp's (NASDAQ: ATCT) risks are offset by positive long-term fundamentals of the federal IT services sector and the company's experienced management team and started shares with a Buy rating and $5 target.

• Pacific Crest started Logitech International (NASDAQ: LOGI) with a Sector Perform rating based on valuation.

• ThinkEquity believes that Wireless Ronin Technologies (NASDAQ: RNIN) is exposed to one of the biggest open-ended growth opportunities in digital media today with its RoninCast application and started shares with a Buy rating...

OTHER INITIATIONS:

• Leerink Swann started Insulet Corp (NASDAQ: PODD) with an Outperform rating.

• Goldman started Essex Property Trust (NYSE: ESS) with a Neutral.

• Deutsche Bank and JP Morgan started Continental Resources (NYSE: CLR) with an Overweight rating, while Merrill Lynch started Continental Resources with a Buy rating.

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

MOST NOTEWORTHY: Logitech International SA (LOGI), Time Warner Cable Inc (TWC) and Human Genome Sciences (HGSI) were today's most notable initiations:

• Morgan Keegan started Logitech International SA (NASDAQ: LOGI) with an Outperform rating; the firm believes Logi is well positioned in the peripherals market and should continue to see solid growth driven by increasing PC use as multimedia devices.

• Time Warner Cable Inc (NYSE: TWC) was initiated with an Overweight rating and $52 target at Prudential, as the firm sees upside to guidance and views valuation as reasonable.

• Human Genome Sciences (NASDAQ: HGSI) was initiated with a Hold rating at Stanford, citing lack of visibility into Albuferon, LymphoStat-B and HGS-ETR programs for its rating...

OTHER INITIATIONS:

• Morgan Stanley initiated Hanesbrands Inc (NYSE: HBI) with an Overweight rating.

• Bernstein started M&T Bank Corp (NYSE: MTB) with a Market Perform rating and $121 target.

• MV Oil Trust (NYSE: MVO) was initiated at AG Edwards with a Buy rating, as the firm believes MV Oil offers investors tax-advantaged exposure to oil price volatility and development activity.

• Lehman Brothers started Downey Financial Corp (NYSE: DSL) with an Outperform rating and $80 target.

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

MOST NOTEWORTHY: Bristol Myers Squibb Co (BMY), Krispy Kreme Doughnuts Inc (KKD), Martha Stewart Living Omnimedia Inc (MSO) and New Century Financial Corp (NEW) were some of today's more notable upgrades:

• UBS upgraded shares of Bristol Myers Squibb Co (NYSE: BMY) to Buy from Neutral. The firm finds the recent pullback an attractive buying opportunity given the possibility of a takeover approach. The broker also believes BMY will likely win its Plavix patent case.

• CIBC resumed coverage of Krispy Kreme Doughnuts Inc (NYSE: KKD) with a Sector Performer rating, up from its recent Underperformer rating, citing resolutions to numerous accounting and legal issues for the upgrade.

• Morgan Stanley upgraded Martha Stewart Living Omnimedia Inc (NYSE: MSO) to Equal Weight from Underweight.

• Bear Stearns upgraded New Century Financial Corp (NYSE: NEW) to Peer Perform from Underperform saying downside risk is limited to $10-$11, but sees upside if business stabilizes and liquidity improves...

OTHER UPGRADES:

• JP Morgan raised Eaton Vance Corp (NYSE: EV) to Neutral from Underweight to reflect the company's strong fund sales and continued capital returns to shareholders.

• AG Edwards replaced Exxon Mobil Corp (NYSE: XOM) on its Focus Portfolio, adding Chevron Corp (CVX) to reflect the company's improved financial strength and attractive valuation.

• Lehman Brothers upgraded Apple Inc (NASDAQ: AAPL) to Overweight from Equal-Weight with a $105 target based on the recent pullback in shares.

• Friedman Billings raised Hess Corp's (NYSE: HES) rating to Outperform from Market Perform, based on growth reserves and an improving outlook.

• Merrill Lynch upgraded Logitech International SA (NASDAQ: LOGI) to Buy from Neutral.

• Matrix upgraded Abbott Laboratories (NYSE: ABT) to Buy from Hold on valuation.

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