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

• American Capital Agency Corp. (NASDAQ: AGNC) earnings prospects earned it an analyst's upgrade.
• Broadpoint Securities Group Inc. (NASDAQ: BPSG) earnings prospects improved with recent acquisitions.
• Clorox Co. (NYSE: CLX) was upgraded on the belief that its fiscal year outlook is too conservative.
• Deutsche Bank (NYSE: DB) earnings prospects resulted in an upgrade from JPMorgan.
• Lululemon Athletica Inc. (NASDAQ: LULU) Q1 profit and same-store sales fell and it offered a weak outlook.
• Movado Group Inc. (NYSE: MOV) bested Q1 expectations and forecast a considerable profit for the full year.

Shares of the following companies surged after they posted quarterly results on Tuesday.

Watchmaker Movado Group Inc. (NYSE: MOV) reported a smaller-than-expected Q1 loss as cost cutting offset weak sales due to the continued pullback by consumers of discretionary spending. Movado also surprised with a profit forecast for FY 2010. Shares rose 26.4% to close at $10.24.

Navistar International Corp. (NYSE: NAV) Q2 earnings and revenue fell short of analysts' estimates as the recession dampened demand for commercial vehicles. Navistar also slashed its forecast for the full year, and said it plans to cut costs by shifting production from Canada to Mexico. Yet shares rose 5.6% to close at $45.46.

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.

One stock off to the races this year is truck and bus maker Navistar International (NYSE: NAV). Its shares were up 44% after the first three days of trading this year, including trading higher on days the market was lower. And the stock is up 62% since the day before Christmas.

What's behind the move?

Monday morning the company said it expected earnings for fiscal 2009 to range between $5.10 and $5.60 per share, which is significantly below the $6.08 the Street was expecting (though the company's forecast includes up to $3 per share in pension costs).

Perhaps someone figured out that with the stock in the low $20s and earnings slated to be above $5 per share, the P/E ratio was pretty low and the stock at that low level was too enticing to pass up.

More likely, though, the move can be attributed to comments from CEO Daniel Ustian, who said that he believed that 2010, rather than being a trough year, will be a lot higher than 2009. The company said it sees a (very) slight gain in sales volume in the United States and Canada this year of its school buses and heavy-duty trucks to 244,000 to 256,000 from 244,100 in fiscal 2008.

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

• Boeing Co. (NYSE: BA) earnings prospects may have encouraged the machinist union to strike.
• Ciena Corp. (NASDAQ: CIEN) Q3 results and weak guidance led shares to a new 52-week low.
• Corning Inc. (NYSE: GLW) lowered its Q3 earnings guidance below previous and analysts' forecasts.
• Dollar Financial Corp. (NASDAQ: DLLR) beat Q4 estimates and posted record 2008 results.
• Ericsson Telephone Co. (NASDAQ: ERIC) was downgraded because it could miss Q3 earnings expectations.
• Esterline Technologies (NYSE: ESL) topped Q3 expectations due to robust aerospace and defense markets.
• Joy Global Inc. (NASDAQ: JOYG) posted strong Q3 results due to a sharp increase in orders.
• Kraft Foods Inc. (NYSE: KFT) backed away somewhat from its previous 2008 earnings guidance.
• Legg Mason Inc. (NYSE: LM) earnings prospects for the next several quarters led to an analyst downgrade.
• MEMC Electronic Materials Inc. (NYSE: WFR) mid quarter update warned of declining demand for chips.
• Navistar International Corp. (NYSE: NAV) was upgraded following a strong Q3 report.
• New York Times Co. (NYSE: NYT) ongoing losses haven't diminished Rupert Murdoch's interest in it.
• Nokia Corp. (NYSE: NOK) warned that it would miss earnings estimates due in part to weak sales.
• Shanda Interactive Entertainment Ltd. (NASDAQ: SNDA) better-than-expected Q2 led to an analyst upgrade.
• Staples Inc. (NASDAQ: SPLS) Q2 earnings slipped while revenues rose, beating expectations.
• Take-Two Interactive Software Inc. (NASDAQ: TTWO) Q3 results soared but cut its Q4 guidance.
• Tenet Healthcare Corp. (NYSE: THC) was upgraded on its prospects for beating expectations.
• Terex Corp. (NYSE: TEX) warned that earnings for Q3 and Q4 would be lower than estimates.
• Tiffany & Co. (NYSE: TIF) posted better-than-expected Q2 results and offered full-year guidance.
• Toll Brothers Inc. (NYSE: TOL) reported its fourth straight quarterly loss, but it was smaller than expected.

Also, Jim Cramer discusses a decline in earnings resulting from a collapse of oil and oil services.

Upcoming quarterly reports include Korn/Ferry (NYSE: KFY), Pep Boys (NYSE: PBY), Campbell Soup (NYSE: CPB), Krispy Kreme (NYSE: KKD), and Lululemon Athletica (NASDAQ: LULU).

Visit AOL Money & Finance for more earnings coverage.

General Motors (NYSE: GM) was cited in The Wall Street Journal last evening saying it would be selling its profitable medium-duty truck business to Navistar (OTC: NAVZ) in a deal that was announced today as part of a non-binding deal between the two companies.

Financial terms of the deal are still unreleased, but GM continues to shed its business of non-core assets as a way to return to consistent profitability -- specifically related to its North American operations. Since GM does not break out sales in exact fashion in its financial results, it's unclear how much of an impact this deal will have on the automaker.

It is known that GM sells about 50,000 trucks from the medium-duty line per year in a product segment that includes dump trucks and small buses. Navistar's expertise in this field makes it a perfect choice to buy the business from GM, although it's actually a profitable arm of the global automaker. Is raising capital more important, though, than selling 50,000 profitable products? This deal would seem to suggest a strong yes.

Right now, no official statement on closing an actual deal as been made on the GM sale except for the non-binding agreement between it and Navistar released just this morning. Will one come today? If not, it will be here soon.

General Motors (NYSE: GM) said Thursday it will sell its mid-size truck unit, which built about 40,800 vehicles in 2006, to Navistar International. Financial terms were not disclosed.

GM's shares fell 20 cents to $26.46 in Thursday midday trading.

GM said the agreement constitutes another step in the company's plan to focus on designing, manufacturing and selling cars and light trucks around the world. GM added that the deal would leverage Navistar's strengths in commercial trucks and engines, enhance its economies of scale and lower costs.

Good decision

Analyst C. Leonard Bauer, formerly of Prudential, said he likes the sound of the Navistar deal.

"This will enable GM to allocate more resources on its core: cars and light trucks," Bauer said. "I like the sale to Navistar in that it gets GM out of a space that did not represent a big gainer. GM has seen the future, and for them it's not in manufacturing mid-size trucks."

MAJOR PAPERS:

• General Motors Corporation (NYSE: GM) is expected to announce as soon as today that it is selling its medium-duty truck unit to Navistar International Corporation (OTC: NAVZ), reported the Wall Street Journal.
• Its balance sheet is clean and straight forward, debt is less than 25% of capital, it produces over $70M a year in operating cash, pays a 3.5% dividend and buys back its stock, but, asks the Wall Street Journal's "Smartmoney Stock Screen" about Journal Communications Inc (NYSE: JRN), is this stock a bargain or perhaps a takeover candidate?

OTHER PAPERS:

• According to two people familiar with the matter, the FTC is expected to approve the proposed $3.1B acquisition of DoubleClick by Google Inc (NASDAQ: GOOG), the Washington Post reported.

WEBSITES:

• According to an inside source, Earthlink Inc (NASDAQ: ELNK) executives, including an executive VP and a VP, have left the company over the last week, DSLreports.com noted. The company is also cutting VOIP and Muni-Wifi services, in addition to the previously announced job cuts.

MOST NOTEWORTHY: Lululemon, Domino's Pizza, Kenexa, Omniture and News Corp were today's noteworthy initiations:

• Lululemon (NASDAQ: LULU) was initiated with a Neutral rating at Merrill Lynch. CIBC believes the company is well-positioned to replace its Canadian success in the U.S. market and started shares with a Sector Outperformer rating and $39 target. The stock was started at Wachovia with a Market Perform rating on valuation.
• Citigroup finds Domino's Pizza (NYSE: DPZ) compelling for long-term investors given the company's solid cash flows, above-average margins, and international growth opportunity. The firm initiated shares with a Buy rating and $22 target.
• RBC Capital started shares of Kenexa Corporation (NASDAQ: KNXA) with a Sector Perform rating and $32 target, citing lack of visibility into the company's product roadmap.
• RBC initiated shares of Omniture Inc (NASDAQ: OMTR) with an Outperform rating and $33 target. The firm believes Omniture is well-positioned given cross selling opportunities, best in class products, strong secular trends, and expanding client roster.
• News Corporation (NYSE: NWS) was initiated with a Buy rating and added to Stifel's Select List. The firm believes the FOX TV Network, stations and FOX News can garner an incremental recurring 100% margin retransmission and affiliate fees totaling $1B by 2010, adding that its sum-of-the-parts model for News Corp captures the value of $8B of "hidden" assets, yielding a fair market value of $30-$31.

OTHER INTIATIONS:

• CRT Capital initiated shares of Navistar (NASDAQ: NAVZ) with a Buy rating and $75 target.
• JP Morgan started shares of Dice Holdings (NYSE: DHX) with an Overweight rating.
• Think Equity started shares of Whole Foods Market Inc (NASDAQ: WFMI) with an Accumulate rating and $51 target.

Baidu.com Inc. (NASDAQ: BIDU) -- volatility Elevated as BIDU rallies 18% on 2Q performance. BIDU, a Chinese language internet search provider, is recently trading up $33.16 to $216.39. Thomas Weisel says, "Raising 12-month price target to $250. We remain positive on the long-term fundamentals of the paid search industry in China." BIDU August option implied volatility of 56 is above its 26-week average of 48 according to Track Data, suggesting larger risks.

Navistar International Corp. (NASDAQ: NAVZ) -- volatility stays Flat on Shareholder Rights Plan. NAVZ, a truck, bus and engine manufacturer, recently filed an 8-K that created a shareholder rights plan poison pill through July 23 2008. Wachovia said on July 24 2007, "according to documents filed with the SEC, an entity (Harbinger Capital Partners) has acquired approximately 14.3% of NAVZ." WB goes on to say "NAVZ management apparently believes its current share price is undervalued. We maintain our Market Perform and $70-73 valuation range." NAVZ over all option implied volatility of 47 is near its 26-week average according to Track Data, suggesting flat risk.

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

MOST NOTEWORTHY: The truck industry, Roo Group (RGRP), Accuray (ARAY) and TomoTherapy (TTPY) were today's noteworthy initiations:

• In the trucking industry, FTN Midwest initiated shares of Cummins Inc (NYSE: CMI) and Navistar International Corp (NASDAQ: NAVZ) with Hold Ratings and Oshkosh Truck Corp (NYSE: OSK) and PACCAR Inc (NASDAQ: PCAR) with Buy ratings.
• ROO Group (NASDAQ: RGRP) was initiated with a Buy rating and a $3.75 target at Think Equity, which believes RGRP is positioned to capitalize as the Internet continues to grow as a broadcast medium for video.
• Soleil initiated shares of Accuray Inc. (NASDAQ: ARAY) with a Buy rating and $30 target. The company is Soleil's top pick in radiation oncology.
• Soleil also initiated shares of TomoTherapy Inc. (NASDAQ: TTPY) with a Buy rating and $25 target, as the firm believes all-in-one imaging and radiation oncology system in HiArt could become the new standard of care.

OTHER INITIATIONS:

• Elan Corp (NYSE: ELN) was initiated with an Outperform rating and $40 target at Leerink Swann, which added shares to the firm's Focus List as it is positive on the Tysabri opportunity.
• Cree Inc (NASDAQ: CREE) was initiated with a Buy rating and $50 target at Amtech, as the firm believes the time for LED adoption has finally arrived and will accelerate in the future.
• Nollenberger initiated shares of ZipRealty (NASDAQ: ZIPR) and Move, Inc (NASDAQ: MOVE) with Neutral ratings.
• CIBC World Markets initiated shares of Whole Foods Market Inc. (NASDAQ: WFMI) with a Sector Underperformer rating and $38 target, expecting the company to be impacted by increasing competition.
• BMO Capital Markets initiated shares of Intel Corp. (NASDAQ: INTC) with an Outperform rating and $10 target.

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

Apple Inc. (NASDAQ: AAPL) -- May OTM puts more expensive than calls, suggesting downside Hedging. AAPL is expected to report EPS of 64 cents after the close tonight. AAPL call option volume of 56,543 contracts compares to put volume of 25,270 contracts. AAPL May 105 calls have traded 172 times on transaction volume 20,030 contracts. AAPL May 85 puts have traded 133 times on transaction volume of 8,659 contracts according to Track Data. AAPL May 85 puts are bid 55 cents, above its theoretical value of 42 cents. AAPL May 105 calls are bid 45 cents, below its theoretical value of 49 cents. AAPL options suggest downside hedging tendencies.

Navistar Intl. (NASDAQ: NAVZ) -- elevated implied volatility suggests Risk as NAVZ at record High. NAVZ, a truck, bus, engine manufacturer, is recently up $1.13 to $57.93. MAN AG, Hino, F, Fiat, Isuzu, PCAR, OSK, General Motors (NYSE: GM), DaimlerChrysler (NYSE: DCX) and Iveco have been frequently mentioned as interested in doing acquisitions, partnerships or bolt-on deals. NAVZ over all option implied volatility of 46 is above its 26-week average of 41 according to Track Data, suggesting larger price risks.

Option volume leaders today are: Intel Corp. (NASDAQ: INTC) and Apple Inc. (NASDAQ: AAPL).

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

MAJOR PAPERS:

• The Wall Street Journal (subscription required) reported that Oracle Corporation (NASDAQ: ORCL) has agreed to acquire Hyperion Solutions Corporation (NASDAQ: HYSL) for $52 per share.
• The Wall Street Journal reported, citing people familiar with the matter, that Blockbuster Inc (NYSE: BBI) is in advanced talks to acquire Movielink LLC, an online movie-downloading company owned by major Hollywood studios.
• Also reported in the Wall Street Journal, McDonald's Corporation (NYSE: MCD) is moving closer to adding lattes and cappuccinos to its menu, a move that would be a direct shot at Starbucks Corporation (NASDAQ: SBUX).
• According to the Financial Times (subscription required), DirecTV Group Inc (NYSE: DTV) is considering ways to bundle high speed internet access to its 15 million satellite television customers.
• The Financial Times reported that private equity is "hovering" over Home Depot Inc's (NYSE: HD) wholesale supply business, which could fetch $11B in a sale.

OTHER PAPERS:

• The Detroit News reported that Ford Motor Company (NYSE: F) won a court order forcing diesel engine supplier Navistar to resume shipments to Ford's Louisville plant.
• Investor's Business Daily's "New America" column highlighted bank and broker SWS Group (NYSE: SWS).