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

• Apollo Group Inc. (NASDAQ: APOL) reported that Q4 revenue soared despite the recession.
• Baidu Inc. (NASDAQ: BIDU) posted strong annual revenue, but at a slowing growth rate.
• Career Education Corp. (NASDAQ: CECO) easily topped Q4 earnings expectations, lifting shares up.
• Comcast Corp. (NASDAQ: CMCSA) Q4 earnings beat expectations and it increased its dividend.
• CVS Caremark Corp. (NYSE: CVS) shares jumped after it reported higher earnings in Q4.
• Digital River Inc. (NASDAQ: DRIV) shares soared on better-than-expected Q4 earnings and revenue.
• Expedia Inc. (NASDAQ: EXPE) reported dismal results due to a huge good will write down.
• Goodyear Tire & Rubber Co. (NYSE: GT) posted a greater-than-expected Q4 net loss and announced job cuts.
• Hormel Foods Corp. (NYSE: HRL) exceeded Q1 earnings expectations due to the popularity of SPAM.

Shares of medical device maker Medtronic Inc. (NYSE: MDT) surged on Tuesday in an otherwise lousy market after the company said tighter cost controls and new demand for spinal implants helped it exceed Wall Street's expectations. Shares have been slipping, however, since Tuesday, from a high of $35.39 to $34.44 mid-morning Thursday.

For the quarter Medtronic earned $723 million, or 65 cents per share, on revenue of $3.49 billion.

After adjusting for in-process research and development charges of $72 million, or 6 cents per share, non-GAAP net earnings came in at $795 million, or 71 cents per share, an increase of 12% and 13%, respectively, from a year ago, and one penny ahead of Street estimates.

Among all the negative economic data that came out last week was a positive surprise: retail sales were higher in January. A fluke or a glimmer at the end of the tunnel? That may depend on whether we see any positive surprises arising from items on this week's economic calendar:

• Consumer Analyst Group of New York Conference: Monday through Friday
• NY Empire Manufacturing Index (Feb. 2009): Tuesday, 8:30 AM
• NAHB Housing Market Index (Feb. 2009): Tuesday, 1:00 PM
• Fed's Bullard speaks before National Association of Business Economists: Tuesday, 1:00 PM
• Housing starts (Jan. 2009): Wednesday, 8:30 AM
• Fed's Pianalto speaks before Commercial Developers Power Breakfast: Wednesday, 9:00 AM
• Industrial production (Jan. 2009): Wednesday, 9:15 AM
• Fed's Bernanke speaks before National Press Club Luncheon: Wednesday, 12:30 PM

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

• Barnes & Noble Inc. (NYSE: BKS) swung to a Q3 loss as same-store sales fell, and it lowered its outlook.
• Corning Inc. (NYSE: GLW) forecast lower profits due to weaker glass sales but has a strong cash position.
• Fortress Investment Group (NYSE: FIG) swung to a Q3 loss as investors requested redemptions.
• Gap Inc. (NYSE: GPS) profit beat estimates despite the decline in sales, and it reaffirmed its outlook.
• HJ Heinz Co. (NYSE: HNZ) strong Q2 results topped expectations but didn't impress the market.
• Intuit Inc. (NASDAQ: INTU) reported solid results and offered modest growth for the next quarter.
• Limited Brands Inc. (NYSE: LTD) Q3 profits and same-store sales fell and it lowered its guidance.
• Macy's Inc. (NYSE: M) fell short of Q3 expectations and said it would reduce capital expenditures in 2009.
• Medtronic Inc. (NYSE: MDT) fell short of Q2 expectations and lowered its full-year guidance.
• PepsiCo Inc. (NYSE: PEP) reaffirmed its previously announced full-year earnings guidance.
• Salesforce.com Inc. (NYSE: CRM) said Q3 earnings and revenue grew sharply, beating expectations.
• Target Corp. (NYSE: TGT) posted weak Q3 numbers and discontinued its share buyback activity.
• Walt Disney Co. (NYSE: DIS) was downgraded on the belief that consensus estimates may be too high.

Medtronic (NYSE: MDT - option chain) shares are way lower today after the company posted a second-quarter profit of $571 million, or 51 cents per share. The company's adjusted profit of 67 cents per share missed analysts' estimates of 71 cents per share. MDT also lowered their fiscal-2009 EPS forecast by about 3% on both the high and low ends. None of this is helping the stock today. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on MDT.

This morning, MDT opened at $34.49. So far today the stock has hit a low of $31.25 and a high of $35.48. As of 12:30, MDT is trading at $32.24, down $4.18 (11.5%). The chart for MDT looks neutral and S&P gives MDT a 3 STARS (out of 5) hold ranking.

For a bearish hedged play on this stock, I would consider a January bear-call credit spread above the $42.50 range.

"I've always been a big fan of putting into the market on a regular basis regardless of what is happening in the overall market," explains Chuck Carlson, long considered one of the advisory industry's leading experts on dividend reinvestment plans.

Here, the editor of The DRIP Investor offers a 10-stock "autopilot" portfolio that is diversified among 10 high quality dividend-paying stocks and requiring a monthly investment of under $500.

Carlson says, "If I've learned anything in the more than a quarter of a century of following the markets, it is this fact - buying stocks when you know you should (i.e. during sharp down moves) is really difficult. Our heads says we should; after all, substantial market downturns create the best values.

"But our emotions usually take control, thus making it very difficult to pull the trigger and put money into the market when stocks are falling.

"That's why I've always been a big fan of 401(k) plans. With these investment vehicles, investment programs are put on 'autopilot,' with dollars being put into the market on a regular basis (usually each paycheck) regardless of what is happening in the overall market.

"Fortunately, investors can duplicate the autopilot feature of 401(k) plans with their DRIP investments by taking advantage of automatic monthly investment features provided by most DRIPs.

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

• Big Lots Inc. (NYSE: BIG) Q1 earnings rose 20%, driven by cash-strapped bargain hunters.
• Borders Group Inc. (NYSE: BGP) narrowed its loss in the first quarter though same-store sales fell.
• Costco Wholesale Corp. (NASDAQ: COST) Q3 profits climbed 32%, beating analysts' estimates.
• Dell Inc. (NASDAQ: DELL) posted solid Q1 results that beat analysts' expectations (see the transcript).
• DSW Inc. (NYSE: DSW) Q1 earnings declined, hurt by weak same-store sales.
• H.J. Heinz Co. (NYSE: HNZ) better-than-expected Q4 results sent the stock to a 52-week high.
• Integra LifeSciences Holdings Corp. (NASDAQ: IART) beat Q4 estimates and offered Q1 guidance.
• J. Crew Group Inc. (NYSE: JCG) lowered its full-year forecast, leading to analyst downgrades.
• Joy Global Inc. (NASDAQ: JOYG) Q2 results beat expectations, and it raised its full-year guidance.
• Lions Gate Entertainment Corp. (NYSE: LGF) posted record Q4 revenues but a bigger-than-expected loss.
• Marvell Technology Group (NASDAQ: MRVL) Q1 profits beat estimates and led to analyst upgrades.
• Medtronic Inc. (NYSE: MDT) beat Q4 estimates and offered full-year guidance.
• Novell Inc. (NASDAQ: NOVL) swung to a profit that was in line with analysts estimates.
• Salesforce.com Inc. (NYSE: CRM) Q1 revenues surged on new customers and demand in Asia.

Medtronic (NYSE: MDT) is a medical technology company, specializing in a variety of implantable biomedical devices. Leading products include pacemakers, stents, catheters, glucose monitoring systems and insulin pumps. The firm's Cardiac Surgery segment offers products for the repair and replacement of heart valves, surgical accessories, and surgical ablation products. A Physio-Control unit provides external defibrillation and emergency response systems. Medtronic sells its products to hospitals, clinics, third party healthcare providers and governmental healthcare programs. Boston Scientific (NYSE: BSX) and Johnson & Johnson (NYSE: JNJ) are major competitors.

Investors were pleased last week, when Medtronic announced fiscal Q4 EPS of 78 cents and revenues of $3.86 billion. Analysts had been expecting 72 cents and $3.72 billion. Management also guided FY09 EPS to $2.94-$3.02 ($2.96 consensus) and FY09 revenues to $15-$15.5 billion ($15.14 consensus). UBS subsequently reiterated its "buy" rating on the shares.

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

• Agilent Technologies Inc. (NYSE: A) beat Q2 expectations and offered Q3 and full-year guidance.
• Barnes & Noble Inc. (NYSE: BKS) widened its Q1 loss but maintained its full-year profit forecast.
• Campbell Soup Co. (NYSE: CPB) Q3 profit rose due to the sale of Godiva, but shares tumbled.
• Fluor Corp. (NYSE: FLR) beat Q1 expectations and offered rosy full-year guidance.
• Gamestop Corp. (NYSE: GME) posted record Q1 earnings but offered weak Q2 and full-year guidance.
• Hewlett-Packard Co. (NYSE: HPQ) posted strong Q2 results in the wake of its announced EDS acquistion.
• Hot Topic Inc. (NASDAQ: HOTT) Q1 loss widened due to declines in same-store sales.
• Kenexa Corp. (NASDAQ: KNXA) beat Q1 expectations and raised its full-year guidance.
• Medtronic Inc. (NYSE: MDT) posted flat Q4 earnings despite strong sales, and missed full-year estimates.
• Napster Inc. (NASDAQ: NAPS) narrowed its loss and exceeded analysts' Q1 epectations.
• Ross Stores Inc. (NYSE: ROST) Q1 profits rose on same-store growth and a real estate settlement.
• Staples Inc. (NASDAQ: SPLS) swung to a modest Q1 profit after two quarterly losses.
• Target Corp. (NYSE: TGT) Q1 profits slipped but came in ahead of analysts' estimates.
• Tween Brands Inc. (NYSE: TWB) Q1 profit was hurt by a one-time charge but still beat expectations.

Additional earnings highlights:
Home Depot, Gap, Lenovo, Air France, Activision, Suntech 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.

MOST NOTEWORTHY: Micron, China Sunergy and Medtronic were today's noteworthy upgrades:

• Deutsche Bank upgraded shares of Micron (NYSE: MU) to Buy from Hold as they believe improved pricing and the company's cost reductions should drive a strong margin recovery. The firm raised MU's target to $11 from $7.
  
• Jefferies raised China Sunergy (NASDAQ: CSUN) to Hold from Underperform following the company's Q1 beat to reflect its improved outlook for the production of higher efficiency cells and better controls over cash flow measures.
  
• Goldman raised Medtronic (NYSE: MDT) to Buy from Neutral based on potential earnings upside from strong market share and broad distribution.

OTHER UPGRADES:

• UBS upgraded National Fuel Gas (NYSE: NFG) to Buy from Neutral.
  
• Arris (NASDAQ: ARRS) was raised to Outperform from Market Perform at Friedman Billings.
  
• Piper upgraded Central Garden & Pet (NASDAQ: CENT) to Buy from Neutral.

While medical device maker Medtronic Inc. (NYSE: MDT) reported flat fourth-quarter profit on Tuesday despite strong growth in sales and operating earnings, chip maker Analog Devices Inc. (NYSE: ADI) said its fiscal second-quarter profit increase on higher sales of analog products beat analyst estimates.

Minneapolis-based Medtronic's fourth-quarter profit of $812 million was the same as last year, when the company recorded a tax gain of about $129 million. Adjusted earnings-per-share rose to 72 cents, up from 70 cents per share a year ago, and in line with the estimates of analysts surveyed by Thomson Financial.

Revenue for the quarter rose 18% to $3.86 billion, ahead of analysts' expectations of about $3.72 billion.

For the full year just ended, the company earned $2.23 billion, or $1.95 per share, down from $2.8 billion, or $2.41 per share a year ago. Revenue rose to almost $13.52 billion, up from about $12.3 billion a year ago. Analysts were expecting earnings per share of $2.96 on revenue of $15.1 billion.

Medtronic said it expects to earn $2.94 to $3.02 per share for fiscal 2009, on revenue of $15 billion to $15.5 billion.

Shares rose $1.08, or 2.3%, to $48.96 in trading Tuesday, and rose an additional 19 cents after hours.

Monday, May 19

• Lowe's Companies (NYSE: LOW) to report Q1 earnings; conference call scheduled for 9:00am.
• Campbell Soup Company (NYSE: CPB) to report Q3 earnings; Conference call scheduled for 10:00am.

Tuesday, May 20

• Senate Judiciary Committee Hearing on Global Internet Freedom & Corporate Responsibilty at 10:00am. Appearing: Google, Inc. (NASDAQ: GOOG), Cisco Systems, Inc. (NASDAQ: CSCO) and Yahoo! Inc. (NASDAQ: YHOO).
• Medtronic, Inc. (NYSE: MDT) to report Q4 earnings; conference call scheduled for 8:00am.
• Hewlett-Packard Company (NYSE: HPQ) to report Q2 earnings; conference call scheduled for 5:00pm.

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

• CEC Entertainment Inc. (NYSE: CEC) reported a profit loss and flat revenue for the fourth quarter.
• Darden Restaurants Inc. (NYSE: DRI) raised its third-quarter and full-year earnings forecasts.
• Forward Air Corp. (NASDAQ: FWRD) beat earnings estimates and offered guidance.
• General Mills Inc. (NYSE: GIS) raised its 2008 and 2010 earnings forecasts on strong sales.
• Hewlett-Packard Co. (NASDAQ: HPQ) reported better-than-expected earnings and offered bullish guidance.
• Intuit Inc. (NASDAQ: INTU) second-quarter profits fell and it offered meager guidance.
• JC Penney Inc. (NYSE: JCP) reported a smaller-than-expected profit decline for the fourth quarter.
• Medtronic Inc. (NYSE: MDT) third-quarter profit and revenue beat analysts' expectations.
• OfficeMax Inc. (NYSE: OMX) easily beat fourth-quarter earnings expectations on lower costs.
• TJX Companies Inc. (NYSE: TJX) fourth-quarter profit beat estimates and helped raise the retail outlook.
• Whole Foods Market Inc. (NASDAQ: WFMI) earnings were dragged down by the Wild Oats acquistion.

Also, Douglas McIntyre examines how a slowdown in orders is likely to affect the earnings of Airbus and Boeing Co. (NYSE: BA), and Brian White looks at how HP might "do better" for the rest of this year.

Upcoming results to watch for include Lowes Companies Inc. (NYSE: LOW), Office Depot Inc. (NYSE: ODP), Home Depot Inc. (NYSE: HD), AutoZone Inc. (NYSE: AZO), Viacom Inc. (NYSE: VIA), and Freddie Mac (NYSE: FRE).

Visit AOL Money & Finance for more earnings coverage.

Shares of medical devices maker Medtronic Inc. (NYSE: MDT) were higher in morning trading after the company reported third-quarter profit that beat analysts' estimates.

For the quarter, Medtronic reported that its profit plunged 89% to $77 million, or 7 cents per share, down from $710 million, or 61 cents per share, in the same period a year ago.

Included in the company's earnings numbers, however, was a $275 million, or 24 cents per share charge related to lawsuit settlements from its recalled Marquis line of implantable defibrillators. Excluding that, Medtronic posted earnings of 63 cents a share. Analysts, on average, expected the company to show earnings of 61cents per share.

Monday, February 18

• Markets closed for Presidents' Day holiday.

Tuesday, February 19

• Wal-Mart Stores, Inc. (NYSE: WMT) to report Q4 results before the market opens.
• Medtronic, Inc. (NYSE: MDT) to report Q3 results; conference call at 8:00am.
• Hewlett-Packard Company (NYSE: HPQ) to report Q1 results; conference call at 5:00pm.
• iRobot Corporation (NASDAQ: IRBT) to report Q4 earnings; conference call at 8:30am on Wednesday.

Wednesday, February 20

• PDUFA date for Abbott Laboratories (NYSE: ABT) Simcor for treating Hypercholesterolemia, Dyslipidemia (lowers non-HDL cholesterol).
• Novatel Wireless, Inc. (NASDAQ: NVTL) to report Q4 results; conference call at 4:30pm.

Thursday, February 21

• MGM Mirage (NYSE: MGM) to report Q4 results; conference call at 11:00am.
• Goldcorp Inc. (NYSE: GG) to report Q4 results; conference call at 1:00pm.

Friday, February 22

• Chemed Corporation (NYSE: CHE) to report Q4 results; conference call at 10am.
• Express Scripts, Inc. (NASDAQ: ESRX) to report Q4 results; conference call at 10am.