Place Whirlpool Corporation (WHR), first discussed here on March 13, 2009, at a price of $34.47, in the not-for-squeamish-investors category.

Appliance manufacturer extraordinaire Whirlpool's stock over-corrected last summer, formed a bear-hug, bottomed at/near $69.50, then recovered to about $90 during the winter -- before recently sliding back to $84. Translation: a roller-coaster -- something that one generally does not see with an industrial player. Even so, I still like WHR here. But hold on to your hat if you own the shares -- the bumpiness could continue in 2011.

And if you haven't already, consider taking some provides off the table with WHR, if you're in at/near $34.50.

Friday's fourth-quarter GDP numbers offered more evidence that the economy is picking up steam, but one of the biggest obstacles to the recovery remains the stubbornly high unemployment rate. We'll find out whether there's been any movement on that front when employment data for January comes out this week. The Challenger Job-Cut report and ADP employment data are due Wednesday, and the government's unemployment rate on Friday. Another mild increase in jobs is expected, in line with the three-month average, but not enough to significantly reduce the unemployment rate.

Also look for the ISM manufacturing and nonmanufacturing indexes this week, as well as the Chicago PMI and the New York NAPM index. And Fed Chairman Ben Bernanke will speak to the National Press Club on Thursday.

Whirlpool (WHR - option chain) stock is trading lower today after the company reported third-quarter earnings this morning, posting a profit of $79 million, or $1.02 per share. Excluding a $1.20 per share expense related to a plea deal on price-fixing charges, WHR earned $2.22 per share on revenue of $4.52 billion. Analysts had forecast earnings of $1.76 per share on revenue of $4.49 billion. However, shares of the stock are falling in early trading after WHR cut its full-year US shipments growth forecast to 3% from 5%. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on WHR.

The earnings crunch continues this week, and analysts surveyed by Thomson Reuters are anticipating lots of strong quarterly reports.

For example, year-over-year earnings growth from big oil Chevron (CVX), ConocoPhillips (COP), ExxonMobil (XOM) and Royal Dutch Shell (RDS.A) are expected to be in double digits. The same is true of many other energy and mining concerns reporting this week: Allegheny Technologies (ATI), Alliant Energy (LNT), Arch Coal (ACI), Cliffs Natural Resources (CLF), CMS Energy (CMS), CONSOL Energy (CNX), DPL (DPL), Hess Corp. (HES), Minerals Technologies (MTX), Pioneer Natural Resources (PXD), PPL Corp. (PPL), Southwestern Energy (SWN), Total (TOT), Whiting Petroleum (WLL), Williams Companies (WMB) and Wisconsin Energy (WEC).

As expected, Whirlpool Corp. (WHR), first discussed here on March 13, 2009, at a price of $34.47 and due for a breather after an impressive one-year run-up, pull-backed this spring. But investors who can tolerate moderate-risk should consider the roughly 28% correction as as a decent time to scoop-up shares. Here's why.

Look for Whirlpool to post a 4% to 6% revenue increase in 2010, then a 5% to 7% rise in 2011, lead by strong demand for kitchen and laundry appliances in emerging markets. Latin America sales should be particularly strong, rising better than 10% in 2010 and 2011.

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

• Coinstar Inc. (CSTR) shares surged following stronger-than-expected Q1 earnings driven by DVD rentals.
• Humana Inc. (HUM) shares traded lower despite the report of better-than-expected earnings for Q1.
• IMAX Corp. (IMAX) reported strong Q1 results that easily topped consensus estimates, but shares declined.
• Kellogg Co. (K) topped Q1 earnings expectations and announced a share buyback program.
• Office Depot Inc. (ODP) Q1 earnings fell short of consensus estimates and same-store sales declined.

All I can say is, wow! Whirlpool Corporation (WHR) is having a spectacular trading session. I'm not sure where the stock will settle out at by the end of the day, but let me tell you, what I'm seeing on my screen at the time of this writing is incredibly impressive. The stock is up almost $12, or over 11%. Volume is robust.

The maker of various appliances under trademarks such as Maytag and KitchenAid has been a great stock to hold over the last twelve months. I mean, just look at the one-year chart. If that doesn't scream bullish, nothing does.

Analyst Upgrades

• Baird upgraded Dell (DELL) to outperform from neutral, citing valuation and improving IT hardware trends. The firm raised its target to $21 from $17.
• Janney Montgomery upgraded Regal Entertainment (RGC) to buy from neutral, citing box office momentum and improving potential for a dividend increase. The firm raised its target for shares to $20.50 from $16.
• Thomas Weisel upgraded CF Industries (CF) to overweight from market weight as it sees reduced financing risk following the equity offering and valuation.
• GameStop (GME) was upgraded to buy from hold at BB&T.
• Exxon Mobil (XOM) was upgraded to outperform from market perform at Raymond James.
• Cameron (CAM) was raised to outperform from market perform at BMO Capital.