Have you been keeping track of Shuffle Master (SHFL)? If you haven't been, you may want to take a look at its one-year chart. The stock has been up and down, as you can see; as of late, it's been on one of its upswings.

Back in July, I was cautious about initiating a trade with this name. Although the potential for it to go up seemed to be a very real possibility, let's face it: Shuffle Master, which supplies products to the casino industry, is one of those stocks you have to approach with extreme caution. This business is not what I would call a core holding.

Anyone out there remember when Shuffle Master (SHFL) was an exciting growth stock? I'm sure there are a few who do. I traded this name years ago when it was doing well. But I haven't thought about it in a little while. It returned to my radar this week when I saw an item at StreetInsider.com a couple days ago discussing a positive initiation on the shares.

Morgan Joseph is calling the company a buy. The firm believes there are some cool opportunities ahead for the maker of casino products such as automatic card shufflers. A price target of $12 has been set.

Analyst Upgrades

• Deutsche Bank upgraded U.S. Steel (X) to buy from hold after raising its steel forecasts and upped its target price on shares to $77 from $44. Note, the firm also downgraded AK Steel.
• Credit Suisse upgraded Philip Morris (PM) to outperform from neutral based on a better international outlook.
• JPMorgan upgraded ev3 Inc. (EVVV) to overweight from neutral. The firm sees upside potential to ev3's consensus estimates for 2010 and raised its target price on shares to $19 from $15.
• Vale (VALE) was upgraded to overweight from equal weight at Barclays.
• Xilinx (XLNX) was raised to outperform from sector perform at RBC Capital.
• Shuffle Master (SHFL) was upgraded at KeyBanc to buy from hold.

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

• America's Car-Mart Inc. (NASDAQ: CRMT) topped Q1 expectations on strong growth of same-store sales.
• Campbell Soup Co. (NYSE: CPB) strong Q4 results led shares to a new 52-week high.
• FedEx Corp. (NYSE: FDX) boosted its Q1 forecast due to the recent drop in oil prices.
• Krispy Kreme Doughnuts (NYSE: KKD) narrowed its loss in Q2 but fell short of expectations.
• Lehman Brothers Holdings Inc. (NYSE: LEH) released Q3 results early to calm investor concerns.
• PharmaNet Development Group Inc. (NASDAQ: PDGI) was downgraded after lowering its guidance.
• Shuffle Master Inc. (NASDAQ: SHFL) fell short of analysts estimates, reporting flat year over year earnings.
• Texas Instruments Inc. (NYSE: TXN) reaffirmed its outlook when investors had expected a cut.
• Ulta Salon Cosmetics & Fragrance Inc. (NASDAQ: ULTA) beat estimates and offered Q3 and full-year outlook.
• Washington Mutual Inc. (NYSE: WM) was upgraded despite its disappointing Q3 results.

Upcoming quarterly reports include Kroger (NYSE: KR), Adobe (NASDAQ: ADBE), Best Buy (NYSE: BBY), Goldman Sachs (NYSE: GS), General Mills (NYSE: GIS), Morgan Stanley (NYSE: MS), ConAgra (NYSE: CAG), FedEx (NYSE: FDX), and Oracle (NASDAQ: ORCL).

Visit AOL Money & Finance for more earnings coverage.

I have a soft spot for Shuffle Master (NASDAQ: SHFL). A few years back, I owned the stock when it was in its growth phase and made a little money on it. Now, though, the gambling entity's shares are stuck in $5-land, and it's truly been a terrible stock.

Well, on Monday, Shuffle Master reported earnings for the third quarter after the market closed. In a relative sense, the numbers weren't too bad, but at the same time, they in no way make me want to buy the stock. And believe me, I have been waiting for the day when data will reveal that Shuffle Master is a buy. I just feel that the company can return to growth at some point. Gambling isn't going away, right?

Anyway, according to this RTTNews link, revenues increased nearly 10% during the quarter, but sadly, the bottom line couldn't move. Shuffle Master booked only $0.08 per share in terms of net income, a stat which represents 0% growth. It also was a miss by two pennies of Wall Street's estimates. However, according to the press release issued by the company, there is one neat silver lining in the form of cash from operations. That metric increased 9% during the quarter, and it was driven by diligent management of working capital changes.

In last week's preview we took a peek at expectations for Campbell Soup earnings, but now the company is scheduled to report fiscal fourth quarter results this coming Thursday. With Krispy Kreme also among the handful of companies scheduled to report this week, we may yet see whether consumers are turning to comfort foods in these uncertain times.

Campbell Soup Co. (NYSE: CPB), the world's biggest soup maker, is still expected by analysts surveyed by Thomson Financial to post net income of 25 cents per share (up 44.0% from a year ago) on revenue of $1.7 billion (up 7.4%). The Camden, N.J.-based company has just missed earnings estimates in the past few quarters. Its long-term EPS growth forecast is 7.9%, which is less than the industry average, but about the same as rivals Kraft Foods (NYSE: KFT) and HJ Heinz (NYSE: HNZ). The analysts' consensus recommendation is currently to buy Campbell.

Hip, Canadian apparel retailer Lululemon Athletica Inc. (NASDAQ: LULU) is also anticipated to be a big earnings gainer when it reports this week. Net income is expected to come in at 13 cents per share (up 46.2% from a year ago) on revenue of $88.2 million (up 50.3%). Lululemon met expectations when it reported 12 cents per share in the previous quarter. Its long-term EPS growth forecast is a healthy 40.2%, which is better than the industry average and that of rival Under Armour Inc. (NYSE: UA). The analysts' consensus recommendation is currently to buy Lululemon.

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

• ADC Telecommunications Inc. (NASDAQ: ADCT) beat Q2 estimates and raised its full-year guidance.
• Alcoa Inc. (NYSE: AA) near-term earnings prospects led to an analyst downgrade.
• Banco de Chile (NYSE: BCH) earnings prospects after an acquisition led to an analyst's upgrade.
• Benihana Inc. (NASDAQ: BNHN) posted lower Q4 profits but still beat earnings estimates.
• Bob Evans Farms Inc. (NASDAQ: BOBE) reported solid Q4 results due in part to cost management.
• Brown-Forman Corp. (NYSE: BF.B) easily beat Q4 estimates and offered full-year guidance.
• CMGI Inc. (NASDAQ: CMGI) lowered its guidance, sending shares tumbling 25%.
• Coca Cola Hellenic Bottling Co. (NYSE: CCH) warned of weaker earnings due to economic conditions.
• Conn's Inc. (NASDAQ: CONN) reported solid Q1 results and issued in-line guidance for the year.
• Dick's Sporting Goods Inc. (NYSE: DKS) earnings prospects impress analysts despite recent guidance.
• Guess? Inc. (NYSE: GES) topped Q1 expectations due to strong international expansion.
• Krispy Kreme Doughnuts Inc. (NYSE: KKD) swung to a Q1 profit despite falling revenues.
• Lehman Brothers Holdings Inc. (NYSE: LEH) posted a bigger-than-expected loss on further write-downs.

Shuffle Master's (NASDAQ: SHFL) shares are up over 12% at the time of this writing in Monday's after-hour sessions on earnings news. Revenues for the supplier to the casino industry increased 10% to $49 million in the second quarter. Earnings per diluted share from continuing operations improved dramatically to $0.09 versus a net loss of $0.05 per diluted share. This was enough to best Wall Street analysts and their expectations game by two pennies, according to Briefing.com.

Cash flow from operations also improved, rising nearly 50% to $15.2 million. Other positive elements include a stable gross margin, a decline in operating expenses on a sequential basis, and improved contribution from the Stargames asset. Shuffle Master did seem to shine in the quarter on a relative basis.

But any investor out there thinking that this stock is a buy now needs to do a lot of due diligence. Granted, I'm intrigued by the recent price action of Shuffle Master's stock. The shares closed on Monday at $6.24, a level that indicates some momentum since the 52-week low is $4.50. And with the stock trading at $7 as I write, I do wonder about the potential for appreciation here. However, I'm not buying. Shuffle Master is still trying to turn itself around, and it isn't the growth stock it once was. My gut might feel a little more bullish over the company, but it still remembers the empathetic nausea it felt for those shareholders who watched the stock drop like a knife from over $18 to the aforementioned low of the year. Gambling will be a hot sector over time, but I see no reason to rush into Shuffle Master.

Disclosure: I don't own shares in any company mentioned; positions can change at any time.

At best it was a week that was difficult; at worst it was a very concerning sign about what is to come. We have finally seen a significant drop in the overall sentiment due to extraordinarily high oil prices mixed with an unemployment level at 5.5%. The mixture of these and other troubling economic projections has finally come to cause investors to pause and realize that this is no place to be accepting risk beyond what is absolutely necessary.

This week will show a significant amount of reservation by investors not accepting of any shortfalls on earnings or even outlooks that are not significantly rosy. The current picture and the economic outlook was the focus of The Disciplined Investor Podcast this week, with help from money manager and economist, Michael "Mish" Sheldock.

Monday, June 9

Shuffle Master Inc. (NASDAQ: SHFL) will be reporting earnings that are expected to be $.07 per share. This has continued to be a difficult market for them even as casino construction has been rising around the world and the use of many of the products of this company are beneficial to the net profits of their customers. The stock has suffered dramatically over the past 12 months and, unless there is a product shift or new technology announced, there should be no reason that we see a catalyst for growth. Look for revenues of $45.55 million.

Ashworth Inc. (NASDAQ: ASHW) is a high-brow retailer that is expected to show a significant turn toward the negative this quarter. First Call estimates are looking for a negative $.06 per share while a year ago they were earning $.03 per share. Once again, there doesn't seem to be any reason why this company should see a beneficial upside unless investors are willing to short cover at this point. Even if that is the case, that will probably end up being temporary anyway.

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

• Adobe Systems Inc. (NASDAQ: ADBE) first-quarter profit soared and it offered an encouraging outlook.
• AgFeed Industries Inc. (NASDAQ: FEED) full-year results were in line with expectations.
• Credit Suisse Group (NYSE: CS) warned that it expects a first-quarter loss due to write-downs.
• Discover Financial Services (NYSE: DFS) first-quarter profit plunged on the unloading of Goldfish
• FedEx Corp. (NYSE: FDX) posted lower-that-expected third-quarter earnings on rising fuel prices.
• 4Kids Entertainment Inc. (NYSE: KDE) posted dismal fourth-quarter and full-year results.
• GameStop Corp. (NYSE: GME) posted strong fourth-quarter earnings on Guitar Hero and other games.
• General Mills Inc. (NYSE: GIS) third-quarter profit surged on increased demand for Cheerios, yogurt, etc.
• Goldman Sachs Group Inc. (NYSE: GS) posted better-than-expected first-quarter earnings.
• Lehman Brothers Holdings Inc. (NYSE: LEH) posted better-than-expected first-quarter earnings.
• Lumber Liquidators Inc. (NYSE: LL) beat estimates on infrastructure investments and merchandise variety.
• Morgan Stanley (NYSE: MS) posted better-than-expected first-quarter earnings.
• Nike Inc. (NYSE: NKE) third-quarter profits soared on strong international demand.
• Shuffle Master Inc. (NASDAQ: SHFL) missed expectations for the first quarter.
• Siemens AG (NYSE: SI) lowered its earnings outlook on delays and order cancellations.

Also, Google Inc. (NASDAQ: GOOG) is recession proof? Ted Allrich wonders if there are any safe stocks. Jim Cramer doesn't expect much from tech stocks. And Aaron Katzman looks at the effect of rising grain prices.

Upcoming results to watch for include Walgreen Co. (NYSE: WAG), Tiffany & Co. (NYSE: TIF), Oracle Corp. (NASDAQ: ORCL), ConAgra (NYSE: CAG), and KB Home (NYSE: KBH).

Visit AOL Money & Finance for more earnings coverage.

You think financial stocks are having a tough time? Check out what happened to Shuffle Master (NASDAQ: SHFL) yesterday. Its stock closed down over 26%. Talk about a bad gamble!

The company, which makes card shufflers and other products for the casino industry, has been doing horribly for a while now, even with its 30 cent bounce today. It was once a mighty growth stock, but it is currently relegated to, as of this writing, approximately-$5-per-share-status. The latest calamitous catalyst was an earnings report released on Monday which missed the expectations of Wall Street brass. Net sales for Shuffle Master's first quarter increased by 1% -- not exactly stellar top-line appreciation. Net income from continuing operations came in at a loss of $0.05 per diluted share; in the previous year's quarter, Shuffle Master saw a profit of $0.05 per diluted share from continuing operations. Apparently, analysts were looking for $0.08 per share in positive profit. They didn't get that, and then some. I'll say this, though -- cash from operations did more than double. There is at least some positive in that, I suppose.

If a picture is worth many words, if it does indeed tell a story, then a look at Shuffle Master's chart shows a tale that could only have been written by Stephen King -- a blood-soaked, gory, tortured-scream-inducing piece of prose that makes the reader want to vomit and pray for early death. Again, this isn't a financial stock, but it sure does seem like one. Several years ago, I made some money on Shuffle Master. But the days of making money from it are done for now. I do believe in the long-term power of the gambling industry, but I have no choice but to be bearish on Shuffle Master. It may recover over time, it could find its footing yet again, but I just don't perceive a value just yet. Plus, if you're looking for ideas in this sector, you can check out other companies such as International Game Technology (NASDAQ: IGT) and Wynn Resorts (NASDAQ: WYNN).

Disclosure: I don't own any of the companies mentioned here in any of my portfolios.

AmCOMP (NASDAQ: AMCP) Buy-out offer. Up 37%.

Shuffle Master (NASDAQ: SHFL) Sells patent and tax benefit helps Q4. Trading up 12%.

RF Micro Devices (NASDAQ: RFMD) Revises guidance down. Falls 15%.

American Express (NYSE: AXP) Big write-offs. Falls over 7%.

Stocks may trade differently in pre-market than they do in regular session.

Douglas A. McIntyre is an editor at 247wallst.com.

The markets saw a third day of selling today. While some may attribute it to the lower retail sales numbers, foreign interest rate worries or North Korean missile tests, I think it just may be the summer trading session. The market has been shooting up like crazy recently and it is time it takes a breather. Summer time has also been a historical rough time for the market as it makes very little in gains. Last summer is a good example of this. Just because the Dow dropped in the beginning of June last year doesn't mean it has to drop in the beginning of June this year; but it is food for thought.

The NYSE had volume of 2.5 billion shares with a paltry 279 shares advancing while 3058 declined for a loss of 174.07 points to close at 9,720.94. On the NASDAQ, 1.4 billion shares traded, 669 advanced and 2,372 declined for a loss of 45.8 to 2,541.38.

MOST NOTEWORTHY: BHP Billiton Ltd (BHP), Anglo American plc (AAUK), Shuffle Master, Inc (SHFL), KLA-Tencor Corp (KLAC), and Hershey Foods (HSY) were today's notable downgrades:

• Citigroup cut both BHP Billiton Ltd (NYSE: BHP) and Anglo American ADR (NASDAQ: AAUK) to Hold from Buy.
• Shuffle Master Inc (NASDAQ: SHFL) was downgraded to Sell from Neutral at Goldman based on valuation and near-term challenges.
• RBC cut KLA-Tencor Corp (NASDAQ: KLAC) to Sector Perform from Outperform citing valuation, concerns related to June order expectations, a slowdown in operating expense reduction and long-term concerns related to process control spending.
• JP Morgan downgraded shares of Hershey Foods Co (NYSE: HSY) to Underweight from Neutral on valuation and concerns about the company's restructuring plan.

OTHER DOWNGRADES:

• Keefe Bruyette downgraded Ameriprise Financial, Inc (NYSE: AMP) to Market Perform from Outperform, citing valuation.
• Merriman cut ValueClick, Inc's (NASDAQ: VCLK) rating to Neutral from Buy as the firm believes Google's (GOOG) acquisition of DoubleClick clouds VCLK's long-term prospects.
• UBS downgraded Supervalu Inc (NYSE: SVU) to Reduce from Neutral based on deteriorated sales trends.
• Morgan Stanley downgraded Southern Copper Corp (NYSE: PCU) to Underweight from Equal Weight based on valuation and a potential miss to Q1 expectations.
• Goldman removed Freeport-McMoRan Copper & Gold Inc (NYSE: FCX) from its Conviction Buy List, citing valuation.

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

MOST NOTEWORTHY: United Rentals, Inc (URI), Nintendo Co (NTDOY), Shuffle Master, Inc (SHFL), CheckFree Corp (CKFR) and The Kroger Co (KR) were some of today's noteworthy downgrades:

• JP Morgan cut United Rentals Inc (NYSE: URI) to Underweight from Neutral believing the company's strategic alternatives and valuation upside are limited given slowing end markets and lack of sources to unlock value.

• Citigroup downgraded Nintendo Ltd (OTC: NTDOY) to Hold from Buy.

• Prudential downgraded Shuffle Master Inc (NASDAQ: SHFL) to Neutral from Outperform following a field trip to Macau, as they are incrementally more negative given competition in electronic table games and continued market share erosion in slots.

• JMP Securities cut CheckFree Corp (NASDAQ: CKFR) to Market Outperform from Strong buy and has a greater degree of certainty that Bank of America (BAC) is planning on moving its payment warehouse portion of online bill pay in-house over an unspecified period. The firm believes earnings can be impacted by 25c-30c annually.

• HSBC downgraded shares of The Kroger Co (NYSE: KR) to Neutral from Overweight.

OTHER DOWNGRADES:

• ThinkEquity downgraded KLA-Tencor Corp (NASDAQ: KLAC) to Accumulate from Buy.

• Cowen downgraded Salesforce.com, Inc (NYSE: CRM) to Neutral from Outperform and removed the company from its Focus List citing reduced visibility, lack of near-term catalysts and potential increased competition from Oracle Corp (ORCL) and Microsoft (MSFT).

• JP Morgan cut Dr. Reddy's Laboratories Ltd (NYSE: RDY) to Underweight from Overweight to reflect the increased risk of changing market conditions in Germany.

• Matrix USA downgraded Coinstar, Inc (NASDAQ: CSTR) to Sell from Hold on valuation.

• Piper Jaffray cut Cognizant Technology Solutions Corp (NASDAQ: CTSH) to Market Perform from Outperform.

• JMP Securities downgraded Dendreon Corp (NASDAQ: DNDN) to Market Outperform from Strong Buy.

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