The Men's Wearhouse, Inc. (MW) is being punished today. Just before the end of the session, the company's shares were down almost 17% to $23.87. Not that you have to be told this, but volume was huge.

What the heck happened? It's a simple case of an outlook that isn't up to Wall Street's standards. According to Bloomberg, the third quarter went well enough. On an adjusted basis, the chain made 57 cents per share. That was nine pennies above the overall projection.

After a week full of mixed economic data taking its toll on the markets, things will settle down somewhat this coming week.

• Monday: Fed releases October data on consumer credit outstanding.
• Tuesday: TIPP Economic Optimism Index is due.
• Wednesday: Labor Dept. offers initial jobless claims numbers for last week, EIA's crude oil inventory last week, October wholesale trade numbers from the Census Bureau.
• Friday: Trade balance data for October, Bureau of Labor Statistics releases its Import Price Index for November, preliminary Michigan Consumer Sentiment Index is due, and the Treasury Dept. releases the federal budget balance in November.

Analyst Upgrades

• Verisk (VRSK) was upgraded to outperform from market perform at Wells Fargo.
• Marriott (MAR) was upgraded to outperform from market perform at Bernstein.
• Jefferies upgraded Teekay (TK) and Tsakos Energy (TNP) to Buy from Hold.
• Cadence Design (CDNS) was upgraded to sector perform from underperform at RBC Capital.
• BofA/Merrill upgraded NV Energy (NVE) to buy from underperform and Education Realty Trust (EDR) to neutral from underperform.
• Men's Wearhouse (MW) was upgraded to buy from hold at Stifel.
• William Blair upgraded Atheros (ATHR) to outperform from market perform.
• Freeport McMoran (FCX) was upgraded to buy from hold at Argus.

A narrower trade deficit and a lower report of weekly jobless claims did not keep the market endlessly higher again today despite the notion that the markets were at least up. The biggest sector news was an almost endless biotech bonanza of analyst upgrades and a plethora of drug news.

Here were today's unofficial closing bell levels:

Dow Jones 10,415.24 +28.23 (0.27%)
S&P 500 1,104.21 +5.34 (0.49%)
Nasdaq 2,236.20 +7.33 (0.33%)

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Men's Wearhouse (MW) guarantees that you'll like the way you look in the suits the company sells. But are you guaranteed to like being an actual investor in the retailer? Over the last year, the stock has basically been a trading vehicle. On Wednesday, the shares closed at $21. At the time of this writing, they were up 4.8% to $22.01 during the afternoon session. That's still below the 52-week high of $27.67.

Back in June, I thought the business might be a buy for a short-term gain. What about now? Well, the second-quarter earnings report was posted yesterday after the bell. TheFly says that earnings of 80 cents per share topped the consensus estimate by three pennies.

The Federal Reserve's next Beige Book report is scheduled to be released this week. This report is a compilation of anecdotal information on current economic conditions from each of the 12 Federal Reserve Bank districts, and it is released eight times a year. The data comes from interviews with business contacts, economists, market experts, and other sources. While the June report showed modest growth across the districts, the July report showed that the economic recovery had slowed, even stalled in some districts.

Other economic data due out this holiday-shortened week include:

Analyst Upgrades

• BMO Capital upgraded Church & Dwight (CHD) to outperform from market perform with a $75 price target, citing valuation.
• JPMorgan upgraded Men's Wearhouse (MW) to overweight from neutral with a $25 price target. The firm cites valuation and expectations for margin expansion for the upgrade.
• Longbow upgraded Greenbrier (GBX) to buy from neutral and has a $15 target on the stock. The firm's checks indicate demand is tightening for intermodal railcars.
• Sunpower (SPWRA) was upgraded to buy from hold at Soleil.
• Tesoro (TSO) was upgraded to outperform from sector perform at RBC Capital.

Men's Wearhouse (MW) is an intriguing stock as it's been a trading vehicle for the most part. Over the last twelve months, you can see that it's been up, then down, then up again, and then ... well, you get the picture. On Wednesday, the retailer, famous for its fine clothing lines for men, issued its Q1 report after the bell. At the time of this writing, the market was giving the numbers a big thumbs-up during the extended session, pushing the stock up over 5% to $19.66.

This got my notice because I'm wondering if the equity might be heading for another up-cycle. At the close of regular trading, the stock was down a little less than 1% to $18.67. The 52-week low is $16.51. Do you get the feeling that traders think this one got too beaten up?

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

• Aeropostale Inc. (ARO) reported better-than-expected Q4 earnings and revenue and offered rosy guidance.
• American Eagle Outfitters Inc. (AEO) higher Q4 earnings matched analysts' estimates, but shares rose afterward.
• AnnTaylor Stores Corp. (ANN) swung to a profit in Q4 even though same-store sales dropped; shares fell.
• Cbeyond Inc. (CBEY) received an analyst's upgrade following its Q4 results and guidance for the full year.
• Children's Place Retail Stores Inc. (PLCE) posted strong Q4 earnings even though same-store sales were flat.

Men's Wearhouse (MW) issued Q4 results on Wednesday. After looking through them, I've come to the conclusion that the company's stock is not one I'll be adding to my portfolio.

Situations can change, of course, but for now, the stats do nothing at all for me. Total revenues decreased 4%. Same-store sales were down at each concept; the actual Men's Wearhouse brand was down over 7%. According to Reuters, the adjusted loss per share was 11 cents. This beat the analysts: they were bracing for a loss of 16 cents per share.

The earnings season, like the calendar year, is winding down. The sprinkling of quarterly results scheduled for this coming week include S&P 500 components AutoZone (AZO), Ciena (CIEN), H&R Block (HRB) and National Semiconductor (NSM), as well as Dollar General (DG), Imperial Sugar (IPSU), Krispy Kreme Doughnuts (KKD), Men's Wearhouse (MW), Talbots (TLB) and others.

Analysts surveyed by Thomson Reuters expect to see strong year-over-year and sequential EPS growth from luxury watchmaker Movado Group Inc. (MOV). During its third quarter of fiscal 2010, this Paramus, N.J.-based company was recognized for its innovative use of technology and it reported a big profit decline for the second quarter.

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

• Best Buy Inc. (NYSE: BBY) was downgraded by one analyst ahead of next week's Q2 earnings report.
• Campbell Soup Co. (NYSE: CPB) better-than-expected Q4 and full-year profit failed to impact the share price.
• FedEx Corp. (NYSE: FDX) boosted its Q1 earnings guidance ahead of next week's quarterly report.
• JoS. A. Bank Clothiers Inc. (NASDAQ: JOSB) saw its Q2 earnings jump higher than expected.
• Korn/Ferry International (NYSE: KFY) swung to a Q1 net loss as revenue plunged despite cost cuts.
• lululemon athletica inc. (NASDAQ: LULU) strong Q2 numbers topped estimates and drove shares higher.

Wednesday, Men's Wearhouse (NYSE: MW) posted solid earnings results but a disappointing forecast. Just a week ago, JoS. A. Bank (NASDAQ: JOSB) saw its second-quarter earnings increase 40% as well. The company earned 68 cents per share in the quarter, easily outpacing expectations for a profit of 54 cents per share. Unlike Men's Wearhouse, JoS. A. Bank did not issue a disappointing forecast -- so the stock has vaulted above prior resistance at the $44 level, which could now act as support.

Turning to a monthly chart for JoS. A. Bank, the stock is facing a crucial point -- as it is nearing its 2004 high in the $48 region. If the stock can topple this region, we could see it challenge the all-time highs set in September 2008. Considering the fact that the company's sales grew 10% in the latest quarter, I feel that a new all-time high may be a short jump away.

Men's Wearhouse (NYSE: MW) issued second-quarter results after the bell on Wednesday. In terms of bottom-line performance, the retailer passed with flying colors. Earnings per share increased to 75 cents per share from the adjusted 72 cents per share observed a year ago. Granted, that's only a three-penny difference, but when it comes to expectations, well, they were blown out the door. According to Reuters, Wall Street was only preparing for 60 cents per share.

Unfortunately, the top-line picture wasn't so pretty. Total sales fell 3.5%, and same-store sales for all of the company's brands declined. The flagship Men's Wearhouse concept saw a comps dip of 2%.

Investors and analysts may be wondering whether the market rally is really over, and whether this signals more trouble ahead for the economy. Well, the Federal Reserve is scheduled to release its next Beige Book report of economic conditions on Wednesday, offering a glimpse of where things stand. The Beige Book report in July suggested that, in some of the 12 Fed districts, the economy appeared to be stabilizing, suggesting that the recession may have reached its bottom, but offering little sign of a recovery. Retail activity remained weak and employment numbers were not good. Yet the minutes of the FOMC August meeting seemed a bit more optimistic about the economy.

In addition to the Beige Book report, the TIPP Economic Optimism Index is scheduled to be released Tuesday, and the University of Michigan Consumer Sentiment Index comes out Friday. So by the end of the week, we could have a good gauge of the mood about the U.S. economy.