TheStreet.com's Jim Cramer says at least one country is getting it right when it comes to economic stimulus.

How in the heck can you get 16% industrial growth and lower-than-expected consumer price inflation? How is that possible? Yet that's what we saw from China last night, and that's a tonic to pretty much everyone who is waiting for our own stimulus to kick in.

And we need it.

On Monday, Fluor (FLR) (Cramer's Take), the giant construction company, when asked if it could quantify the value of stimulus dollars currently in backlog, said "Really, the only stimulus funding we have seen directly has been the award that we got at Savannah River for some nuclear soil remediation. And, it was, I would say, we're less than $0.5 billion."

TheStreet.com's Jim Cramer says if you need money for anything important in the near future, get it out of the stock market.

Fall back. Fall back to basic principles. What do people have to do whether they want to do it or not? What do governments have to pay for whether they want something or not? What must be used whether you like it or not?

That's where we are right now in the helter-skelter pell-mell race to take all stocks to single digits as the notion of a worldwide global depression sinks in.

Analyst upgrades:

• Citigroup upgraded WebMD (NASDAQ: WBMD) shares to Buy from Hold on valuation following the company's Q4 results and outlook. The firm maintains a $25 target on the stock.
  
• Goldman upgraded Verizon (NYSE: VZ) and AT&T (NYSE: T) to Buy from Neutral based on valuation and expectations for 2010 earnings growth.
• Roth upgraded Maxwell Tech (NASDAQ: MXWL) to Buy from Hold following the company's Q4 results to reflect strong ultracapacitor sales growth and gross margin improvement. The firm maintains a $12 target on the stock.
• Nara Bancorp (NASDAQ: NARA) was raised to Market Perform from Underperform at Friedman Billings.
• Cubic (NYSE: CUB) was upgraded to Neutral from Overweight at JP Morgan.
  
• Terex (NYSE: TEX) was lifted to Outperform from Market Perform at Wachovia.

This post is part of a special report, A Dozen Ways to Play an Obama Building Boom.

"Some of the most aggressive buying we've seen from insiders has come from Terex (NYSE: TEX), where seven have bought since October 24th," says Bill Martin.

In his BullMarket.com, he explains, "The Westport, Conn.-based company manufactures capital equipment for construction, infrastructure, quarrying, mining, shipping, transportation, refining, and utility industries worldwide." Here's his review of the stock.

"The shares recently traded at $9.33, down -86% year to date. The stock hit a 52-week high of $76.25 in May and is currently trading at multi-year lows.

"The company announced Q3 results on October 22nd that fell well short of analyst earnings estimates. For the quarter, Terex reported its profit fell year over year to $93.8 million, or 96 cents per share, down from $151.1 million, or $1.45 per share. Adjusted earnings came in at $1.08, which was well below the $1.33 profit analysts were expecting.

"Looking forward, Terex cut its 2008 earnings outlook for the second time in less than two months, faulting weakness in worldwide construction. As such, the company said it is expecting to post a FY08 profit of $5.69-$5.79 a share, down from earlier guidance of $6.35-$6.65 per share.

TheStreet.com's Jim Cramer says the sellers are in control, and without dividend protection, we have no floor.

The bad stuff is in the market. It just has to get more in. That's all. That's the conclusion you have to reach when you see companies like Terex (NYSE: TEX) (Cramer's Take), which is valued at only a billion and a half dollars, or Joy Global (NASDAQ: JOYG) (Cramer's Take) at $2 billion and change or McDermott (NYSE: MDR) (Cramer's Take) at $3 billion.

In other words, forget about the stock prices. They are almost all absurd unless we are headed into a recession of such magnitude that companies start showing severe losses in the first quarter. Think about the market cap size. If Terex, which is actually a pretty good machinery company, can sell at a billion and a half dollars -- about the price that some acquisitive company might have paid for a division of Terex a year ago -- why can't it sell at $1 billion? How about $800 million? What's to stop it? The sellers at this point obviously don't even care about it, not one bit. They just want money. The buyers have had their heads twisted off and don't want anything more to do with it. No one wants to recommend it because the estimates are too high. And without a dividend, it has no protection; besides, people might perceive that the dividend can't be paid -- a la Freeport (NYSE: FCX) (Cramer's Take) -- and sell it anyway.

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.

Today could be blamed on many issues. No ECB rate cut, oil confusion, weak economic data, and more. But this is looking like wholesale de-leveraging across the board amid new credit concerns and tightening standards. Want to see what a bubble popping in commodities looks like? The sad part is that there are very few spots to hide out in, which is perhaps more symptomatic of a bear market. Here are the unofficial closing bell levels:
DJIA 11,185.63 (-347.25)
S&P500 1236.76 (-38.22)
NASDAQ 2259.04 (-74.69)
10YR T-Note 3.643% (-0.054%)
52-week lows
Top Analyst Upgrades
Top Analyst Downgrades

American International Group, Inc. (NYSE: AIG) may be testing out the waters to see how Wall Street reacts. There are reports that the insurance giant may spin-off its bad assets into a new high-risk company to get the assets off its books. Shares were down 6% right before the close.

Ciena Corporation (NASDAQ: CIEN) basically met earnings but it is seeing a slowdown and order delay from Tier One telecom and data carriers. It has now lowered revenue guidance to $190 to $210 million for its fiscal fourth quarter, far under the $263 million expected by analysts. Shares are down over 10% and at new 52-week lows.

Terex (NYSE: TEX) is recently trading at $42.50 in pre-open trading, below its close of $47.32. TEX lowered 2008 EPS view to $6.35-$6.65 from $6.85-$7.15. TEX overall option implied volatility of 50 is near its 26-week average according to Track Data, according to Track Data, suggesting non-directional price movement.

Agco (NYSE: AG), global manufacturer of agricultural and construction equipment, closed at $56.10. AG overall option implied volatility of 49 is near its 26-week average, suggesting non-directional price movement.

Deere (NYSE: DE) closed at $66.53. DE overall option implied volatility of 40 is near its 26-week average according to Track Data, suggesting non-directional price movement.

CNH Global (NYSE: CNH), an agricultural and construction equipment manufacturer, closed at $35.17. CNH overall option implied volatility of 54 is near its 26-week average, suggesting non-directional price movement.

Caterpillar (NYSE: CAT) closed at $67.73. CAT October option implied volatility of 32 is near its 26-week average according to Track Data, suggesting non-directional price movement.

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

TheStreet.com's Jim Cramer says if you can show you're immune to Bernanke, you're going higher.

Cyclicals are on fire here. Stocks like Caterpillar (NYSE: CAT) (Cramer's Take) and Terex (NYSE: TEX) (Cramer's Take) and Joy Global (NASDAQ: JOYG) (Cramer's Take) just can't be stopped. Manitowoc (NYSE: MTW) (Cramer's Take) is a good one. I am thinking United Tech (NYSE: UTX) (Cramer's Take) and Honeywell (NYSE: HON) (Cramer's Take). The rails are on fire.

All of them, what do they have in common? They have left the U.S. behind. We are an afterthought. If you can prove on a conference call that Ben Bernanke has nothing to do with your book of business, you are going higher.

Notice Eaton (NYSE: ETN) (Cramer's Take) and Emerson (NYSE: EMR) (Cramer's Take). They can't quit. When the coal operators come to their sense and realize that they can make fortunes digging for more, then Joy Global will take out the high. I am using any weakness to buy Foster Wheeler (NASDAQ: FWLT) (Cramer's Take), the tug of the non-U.S. cyclicals is that strong.

Readers of this space know that the investment bias is toward large-cap companies with demonstrated business models and who have a competitive advantage in established markets, preferably with a favorable global trend as a support. And with the above in mind, Terex is worth an evaluation.

Terex Corporation (NYSE: TEX) manufactures equipment for use in the construction, infrastructure, and surface mining industries.

Analysts like TEX's international crane business, which should register strong revenue growth, due to the ongoing infrastructure boom in Asia and the Middle East. Analysts also see solid demand for material processing and mining equipment in the immediate years ahead.

Sears Holdings (NASDAQ: SHLD) is trading off 10% on poor Q4 numbers.

A.S.V. (NASDAQ: ASVI) is up 44% on a buy-out from Terex (NYSE: TEX).

Home Depot (NYSE: HD) is up 1.6% on new of an upgrade from Credit Suisse.

IBM (NYSE: IBM) is up almost 9% on Q4 numbers.

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

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

On tonight's MAD MONEY on CNBC Jim Cramer addressed the opportunity created by the big down day. He thinks some stocks are so loved that hedge funds and mutual funds just keep buying. These funds can't buy what they want all at once any longer, so they just keep buying and then the smaller funds jump on board. The other change is that the companies are shrinking because of buybacks. On days like today they sold off and that's an opportunity for you to buy. The floats on these are small enough that they almost trade like small cap stocks. He has a dozen of these stocks:

Whirlpool (WHR), Black & Decker (BDK), Allegheny Tech (ATI), General Cable (BGC), Honeywell (HON), American Standard (ASD), Johnson Controls (JCI), McDermott (MDR), Foster Wheeler (FWLT), Caterpillar (CAT) and Terex (TEX), and Deere (DE).

What Cramer is talking about does have some merit, but keep in mind that when this happens there is a mad rush at the exits when the line ends. In a world where funds are now in the tens of billions of dollars, this is becoming an issue. He's touting it a bit too much and these are names that are probably better for the public to buy on short-term weakness rather than on strength.

This follows up on yesterday's feature by Cramer where he sort of touted this as a scam on Wall Street in Qualcomm (QCOM).

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.

MOST NOTEWORTHY: Delta Air Lines, Inc (DAL), Goodrich Corp (GR), Opnext, Inc (OPXT), Terex Corp (TEX) and Aruba Networks (ARUN) topped today's most noteworthy initiations list:

• UBS started shares of Delta Air Lines Inc (NYSE: DAL) with a Reduce rating and $17 target on valuation and management's overly optimistic outlook.

• Deutsche Bank prefers to wait of a better entry point for Goodrich Corp (NYSE: GR) and initiated shares with a Hold rating.

• Opnext Inc (NASDAQ: OPXT) was initiated at JP Morgan with a Neutral rating citing concerns regarding new transceiver margins.

• Prudential believes Terex Corp (NYSE: TEX) is well positioned to take advantage of strong sustainable growth in the global infrastructure and mining markets over at least the rest of the decade, starting shares with an Overweight rating.

• RBC Capital started Aruba Networks (NASDAQ: ARUN) with a Sector Perform rating while Lehman Bros initiated Aruba with an Overweight rating.

OTHER INITIATIONS:

• Deutsche Bank started Delta Petroleum Corp (NASDAQ: DPTR) with a Buy rating and $27 target.

• JMP Securities started Hersha Hospitality Trust (AMEX: HT) with an Outperform rating and $14 target.

• Credit Suisse assumed coverage of Interline Brands, Inc (NYSE: IBI) with an Outperform rating and $34 target.

• Credit Suisse reinstated Brooks Automation, Inc (NASDAQ: BRKS) with a Neutral rating.

• Goldman Sachs started CenturyTel, Inc (NYSE: CTL) with a Sell rating and $42 target on valuation.

• B. Riley initiated Insteel Industries, Inc (NASDAQ: IIIN) with a Buy rating and $24 target.

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

MOST NOTEWORTHY: Level 3 Communications (LVLT) and the Machinery Sector were the most notable initiations today.

• Credit Suisse initiated Level 3 Communications (NASDAQ: LVLT) with an Outperform rating and $7.50 target; the firm expects Level 3 to continue to benefit from strong demand for higher data usage.

• Morgan Stanley initiated the Machinery Sector with an In-Line rating.
  
• Within the sector, Deere & Co (NYSE: DE) was started with an Overweight rating and $116 target, Terex Corp (NYSE: TEX) with an Equal Weight rating and $67 target, and Caterpillar Inc (NYSE: CAT) & Agco (NYSE: AG) with Underweight ratings and targets of $52 & $25 respectively.

OTHER INITIATIONS:

• Baird initiated Alcatel-Lucent ADS (NYSE: ALU) with a Neutral rating and $15 target citing valuation and integration risks.

• Ferris Baker Watts initiated Navigators Group (NASDAQ: NAVG) with a Sell rating and $43 target; the firm said Navigators' balanced growth will serve to reduce underwriting/EPS volatility when the next highly active catastrophe season surfaces.

• Prudential initiated Allergan Inc (NYSE: AGN) with an Overweight rating and $138 target; the firm expects 2007 to be another strong year driven by medical aesthetics products acquired from Inamed in last year.

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