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.

MOST NOTEWORTHY: The Restaurant Sector, Blockbuster and Plexus were today's noteworthy upgrades:

• Bear Stearns upgraded the Restaurant Sector to Market Weight from Underweight citing better investor sentiment following Fed rate cuts and the economic stimulus plan; upgraded shares include Brinker International (NYSE: EAT), Cheesecake Factory (NASDAQ: CAKE) and Darden Restaurants (NYSE: DRI).
  
• JP Morgan upgraded shares of Blockbuster (NYSE: BBI) to Overweight from Neutral ahead of the company's Q4 results on March 6, as they believe the quarter will be at least in-line and 2008 guidance will be above Street expectations.
  
• Plexus (NASDAQ: PLXS) was raised to Outperform from Neutral at Credit Suisse as they believe current quarter sales and bookings are tracking ahead.

OTHER UPGRADES:

• Maxwell Technologies (NASDAQ: MXWL) was upgraded to Market Perform from Market Underperform at JMP Securities.
  
• The firm also raised Sotheby's (NYSE: BID) to Market Outperform from Market Perform.
  
• Goldman Sachs added Allianz AG (NYSE: AZ) to its Conviction Buy List.

MOST NOTEWORTHY: GPC Biotech, Akamai, Qwest, Shutterfly and LDK Solar were today's noteworthy downgrades:

• GPC Biotech (NASDAQ: GPCB) was downgraded to Sell from Neutral at Goldman, to Sell from Hold at Deutsche Bank and to Underweight from Overweight at Lehman after the company's phase III trial of satraplatin to treat prostate cancer did not meet its primary endpoint.
  
• Deutsche Bank downgraded shares of Akamai Technologies (NASDAQ: AKAM) to Hold from Buy on valuation following the recent rally as they believe concerns around slowing growth, margins and capital efficiency will limit upside.
  
• Qwest Communications (NYSE: Q) was downgraded to Sector Performer from Outperformer at CIBC and to Neutral from Overweight at JP Morgan following the company's disappointing Q3 results.
  
• Jefferies downgraded shares of Shutterfly (NASDAQ: SFLY) following the better-than-expected Q3 results due to valuation.
  
• Piper downgraded shares of LDK Solar (NYSE: LDK) to Market Perform from Outperform, as they expect higher blended poly cost for the company due to tightening scrap poly supply and increased competition.

OTHER DOWNGRADES:

• Maxwell Technologies (NASDAQ: MXWL) was downgraded to Underperform from Market Perform at JMP Securities.
  
• UBS downgraded Estee Lauder (NYSE: EL) to Sell from Neutral.
  
• Merrill downgraded CommScope (NYSE: CTV) to Neutral from Buy.
  
• Under Armour (NYSE: UA) was downgraded to Underperform from Market Perform at Raymond James.
  
• RBC Capital downgraded Beckman Coulter (NYSE: BEC) to Sector Perform from Outperform.

MOST NOTEWORTHY: Linear Technology Corp (LLTC), Anheuser-Busch (BUD), Best Buy (BBY), Bankrate (RATE) and Ensco International (ESV) were today's more noteworthy downgrades:

• Linear Technology Corp (NASDAQ: LLTC) was cut to Sell from Neutral at Merrill citing slowing revenue growth and valuation...

• AG Edwards downgraded Anheuser-Busch (NYSE: BUD) to Hold from Buy on valuation...

• Goldman said Best Buy's (NYSE: BBY) fundamentals remain at risk after the Q1 report and cut shares to Neutral from Buy...

• AG Edwards cut both Bankrate (NASDAQ: RATE) and Ensco International (NYSE: ESV) to Hold from Buy on valuation...

OTHER DOWNGRADES:

• Merck & Co (NYSE: MRK) was cut to Market Perform from Outperform at Raymond James.

• Schlumberger Ltd (NYSE: SLB) was downgraded to Neutral from Add at Calyon.

• ThinkEquity downgraded Color Kinetics (NASDAQ: CLRK) to Accumulate from Buy.

• Maxwell Technologies (NASDAQ: MXWL) was cut to Market Perform from Outperform at JMP Securities.

• Occidental Petroleum Corp (NYSE: OXY) was downgraded to Hold from Buy at Deutsche Bank.

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

MOST NOTEWORTHY: XM Satellite Radio Holdings Inc (XMSR), Sirius Satellite Radio Inc (SIRI) and Pediatrix Medical (PDX) were today's most notable initiations:

• Wedbush initiated XM Satellite Radio Holdings Inc (NASDAQ: XMSR) with a Hold rating and $15 target, expecting a few tough quarters due to market share loss.
• Wedbush also initiated shares of Sirius Satellite Radio Inc (NASDAQ: SIRI) with a Buy rating and $5 target. The firm believes Q4 subscriber tallies suggest market share gains to over 60% in retail channels.
• Pediatrix Medical (NYSE: PDX) was initiated with a Top Pick rating and $60 target at RBC. The firm believes Pediatrix could experience accelerating growth over the next several years due to adding anesthesiology to its core newborn franchise.

OTHER INITIATIONS:

• Rochdale initiated Maxwell Tech Inc (NASDAQ: MXWL) with a Buy rating and $20 target.
• AG Edwards started Genentech Inc (NYSE: DNA) with a Hold rating, as the firm believes shares are fairly valued.
• Trump Entertainment Resorts Inc (NASDAQ: TRMP) was started with a Buy rating at Goldman Sachs.
• Deutsche Bank initiated Ariba Inc (NASDAQ: ARBA) with a Buy rating and $12 target.
• Alcatel-Lucent ADS (NYSE: ALU) was initiated with a Peer Perform at Bear Stearns.

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