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

• Abercrombie & Fitch Co. (ANF) lower Q3 results still topped expectations and sent shares higher.
• Applied Materials Inc. (AMAT) posted much better-than-expected Q4 earnings, the first profit in a year.
• AstraZeneca (AZN) received an analyst's downgrade due to concerns over its earnings prospects.
• Blackstone Group (BX) received an analyst's upgrade following the company's Q3 results.
• Blockbuster Inc. (BBI) widened its net loss in Q3 and revenue and same-stores sales declined.
• Clean Energy Fuels Corp. (CLNE) shares declined after its Q3 numbers fell short of expectations.
• Consolidated Water Co. Inc. (CWCO) earnings prospects for 2010 earned it an analyst upgrade.

Weight Watchers (WTW), the well-known provider of solutions to those who want to shed a few extra pounds, issued Q3 numbers on Tuesday. While losing inches is always a popular activity, that doesn't mean that the company will always see growth.

According to the corporate press release, Weight Watchers saw an 8% decline in net sales. Earnings per share came in at 68 cents on a diluted basis. That was only a penny better than the year prior. Management is certainly making the most of its revenues by keeping costs and expenses down, but it is obviously disappointing to shareholders when income expansion is dependent on belt-tightening.

While the release of economic data doesn't stop next week (see economic schedule highlights below), the earnings season does wind down dramatically. Most of the S&P 500 companies already have reported on the past quarter, which means dismal earnings news is largely behind us, at least for a while. About the only companies of note expected by analysts surveyed by Thomson Reuters to report falling earnings this week are Costco Wholesale Corp. (NASDAQ: COST), Wendy's/Arby's Group Inc. (NYSE: WEN), Foot Locker Inc. (NYSE: FL), Bank of Montreal (NYSE: BMO), and Steinway Musical Instruments Inc. (NYSE: LVB).

While PetSmart Inc. (NASDAQ: PETM) and Big Lots Inc. (NYSE: BIG) quarterly profits are expected to be about the same as a year ago, Liz Claiborne Inc. (NYSE: LIZ), Kenneth Cole Productions Inc. (NYSE: KCP), Ciena Corp. (NASDAQ: CIEN), and Trina Solar Ltd. (NYSE: TSL) are expected to have swung to losses in the most recent quarter.

Heinz Company (NYSE: HNZ) recently released 4Q as well as FY 2007 results. Raise a toast of tomato juice because Heinz has implemented its multiyear product innovation and growth plan in all aspects. At its recent close of $47.20, the stock has not moved much from its beginning-of-the-year price of $45.75, so shares are still bargain-priced for what an investor gets.

Heinz's P/E is right at industry average, but its EPS is above industry average. Both growth and income are on track to exceed estimates and the company recently raised the dividend rate 8.6%, in addition to a FY 2006 dividend rate raise of 16.7%.

Don't just think ketchup when thinking Heinz. The company also owns such well-known brands as Boston Market, Smart Ones (diet foods), Classico (pasta sauces), Ore-Ida (frozen taters), and Weight Watchers. All these products are eaten by consumers every day and there is no mystery about the business model. Heinz stock merits a careful look from investors.

After researching the Volumetrics plan, I'm convinced it's among the best eating strategies yet. So does Consumer Reports.

Notice that the word "diet" is not mentioned. "Diet" implies temporary while "eating strategies" and another commonly used phrase "eating plan" implies permanent changes. The book "The Volumetrics Eating Plan" by Barbara Rolls, who is a professor in the department of nutritional sciences at Pennsylvania State University, is worth a read for anyone looking to take control of their nutrition for the long term rather than just lose a few pounds for the summer.

The runner-up is the review was the Weight Watchers International Inc. (NYSE: WTW) diet plan (I'm a fan of this one) and Jenny Craig also came in a very close third.

The rest? Well, do your homework and see if there are solid tracts of science behind whatever diet plan you choose -- and don't fall for the marketing hype or baseless celebrity endorsements.

It's easy to do.

From the recent Atkins Diet craze to the newest "Best Life Diet" that counts Oprah Winfrey as an endorser, there are many plans making claims to be the best.

As Consumer Reports shows, very few are worth the bother.

MOST NOTEWORTHY: Best Buy (BBY), Weight Watchers (WTW) and Texas Instruments (TXI) tops today's list of downgrades.

• Bernstein downgraded Best Buy Co, Inc. (NYSE: BBY) to Market Perform from Outperform, citing challenges ahead due to the deceleration of the TV cycle.
• Weight Watchers International, Inc. (NYSE:WTW) was downgraded to Neutral from Buy at Bank Of America after checks suggested soft North American attendance.
• Matrix USA downgraded Texas Instruments, Inc. (NYSE:TXI) to Hold from Buy on valuation.

OTHER DOWNGRADES:

• Goldman Sachs downgraded TradeStation Group, Inc. (NASDAQ:TRAD) to Neutral from Buy on valuation, citing preference to E*Trade (ET).
• Morgan Stanley downgraded the Integrated Oil Sector to In-Line from Attractive, citing slowing profit growth.
• MGI Pharma, Inc. (NASDAQ:MOGN) was downgraded by American Tech to Sell from Neutral, citing valuation and upcoming Aloxi risks for the move.
• Deutsche Bank downgraded Schering-Plough Corp. (NYSE:SGP) to Hold from Buy citing valuation.
• In addition, Deutsche Bank also downgraded Forest Laboratories, Inc. (NYSE:FRX) to Hold from Buy.

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