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

• Abbott Laboratories (NYSE: ABT) higher Q3 earnings topped expectations but revenue was in line.
• Advanced Micro Devices Inc. (NYSE: AMD) posted better-than-expected Q3 results, but shares sold off.
• Allegheny Technologies Inc. (NYSE: ATI) was downgraded on concerns about its Q4 guidance.
• Bank of America Corp. (NYSE: BAC) shares fell after it posted a deeper-than-expected quarterly loss.
• Citigroup Inc. (NYSE: C) fell victim to profit taking despite reporting better-than-expected earnings.
• CSX Corp. (NYSE: CSX) better-than-expected Q3 earnings sent shares higher, despite a decline in revenue.

Winnebago (NYSE: WGO) is up well over 8% at the time of this writing during afternoon trading. Yep, it's one of those stories: post a revenue decline and a loss and get rewarded. For the fourth quarter, sales dropped 30%, and the loss per share on an adjusted basis came in at 19 cents.

The full-year picture was also rather dire. Sales plummeted over 60%, and the company lost an adjusted $1.28 per share. Just awful. How in the world can the market love these numbers?

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

• Adobe Systems Inc. (NASDAQ: ADBE) Q2 earnings were in line with expectations but sales beat.
• Best Buy Inc. (NYSE: BBY) beat earnings estimates for Q1, but on horrible metrics, sending shares lower.
• Carnival Corp. (NYSE: CCL) lower Q2 earnings beat expectations and previous guidance, boosting shares.
• CarMax Inc. (NYSE: KMX) Q1 profit and sales dropped, but still beat expectations, sending shares higher.
• Discover Financial Services (NYSE: DFS) posted a smaller-than-expected Q2 net loss and shares rose.

Winnebago Industries (NYSE: WGO) traveled to Wall Street on Thursday to deliver its Q3 earnings numbers. The market thought that the results were worthy of a 10% increase in the stock price. Winnebago closed yesterday at $7.15 per share. The 52-week low on the stock is $3.14. Volume was active during the trading session. So, is Winnebago a buy?

Let's check out some of the stats. According to the press release (pdf file), net sales saw a very steep decline of more than 60%. Winnebago lost 29 cents per share in this year's third quarter versus a profit of 10 cents per share in last year's similar period. However, analysts expected a loss of 27 cents per share. Since Winnebago didn't beat the analyst community, you have to wonder why the market was so excited and in a frenzy to bid shares higher.

Last summer, with oil prices at $150 per barrel, drivers stayed in the garage. This season will be different. You can't keep Americans off the road for long.

If camping is your thing, perhaps traveling the open road in a Winnebago (NYSE: WGO) will do you well. There is no better way to sight see or camp. And with gas prices lower, it will be a trip that is much easier to swallow.

I suspect I'm not alone. In fact, Winnebago sales are likely to do well over the coming years as more of the baby boomer generation retires. The stock trades for less than 50% off highs reached in the past year.

Before you retreat to your favorite summer locale with the perfect book, let's take a look at the stocks set to profit as consumers look to enjoy the fruits of their labor over the next several months.

For me, summer means lots of boating, fishing, and time with my family. And this year I'll be doing more of each to make up for lost time spent hunkering down during the downturn.

As such, companies that make the goods in each of these categories should do well. That's how it goes during a recession. Demand builds as we retreat to preserve cash and fix balance sheets.

On Tuesday, the Federal Reserve's FOMC holds two-day meeting on interest rates and will announce its decision on Wednesday. The Fed's Ben Bernanke will still be out and about this week, discussing the failure of Lehman Brothers later today, and ending up the week speaking at the Independent Community Bankers of America National Convention and Techworld.

Manufacturing will be in focus this week, starting with industrial production numbers for February and the Empire State Manufacturing Survey Diffusion Index for March scheduled to be released Monday morning. Tuesday morning will bring us the Producer Price Index for February, and Thursday morning comes the Philadelphia Fed Outlook Survey -- Diffusion Index Manufacturing for March.

This post is part of our Big Company, Small Town series, featuring large companies and the small towns in which they are headquartered.

Ever taken a road trip in an RV? If you have, there is a good chance that you were inside a Winnebago recreational vehicle. The name Winnebago has been synonymous with the large RV for as long as I can remember. With such a rich history, one would think Winnebago is located somewhere next a major interstate corridor or airport. Otherwise, how would it receive in its raw materials and ship out its finished product?

Winnebago Industries, Inc. (NYSE: WGO) is actually based in Forest City, Iowa, founded in 1958 in Winnebago County (that's where the company's name comes from). From its inception, the company has been involved with travel trailers. It used names from Native American tribes to name its different lines of trailers, and in the 1970s and early 1980s, made smaller trailers as gas prices spiked upward. In fact, come this summer, one of Winnebago's manufacturing plants in Charles City, Iowa, will be closed due to drastic changes in Winnebago's market due to higher gas prices and declining demand. The company has already laid off 200 employees from its headquarters in Forest City.

Unlike many American companies these days, Winnebago still makes the majority of its products in the United States, most of which are built on top of chassis units made by Ford or Chevy. The term Winnebago has made itself, after more then 40 years, into a brand name completely associated with RVs and trailers. Do you blow your nose with a Kleenex or tissue? Drink Coke or a soft drink? Go on vacation in a Winnebago or travel trailer? There's the brand power the company continues to have today, even with the hard times its experiencing.

Be sure to check out more Big Company, Small Town posts.

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

• CarMax Inc. (NYSE: KMX) Q1 profits tumbled despite its aggressive expansion program.
• Chiquita Brands International Inc. (NYSE: CQB) warned it would miss earnings due to cost hikes.
• Circuit City Stores Inc. (NYSE: CC) Q1 loss widened as same-store sales dwindled.
• Commercial Metals Co. (NYSE: CMC) Q3 profits declined despite strong demand, but beat estimates.
• Coventry Healthcare Inc. (NYSE: CVH) lowered its Q2 and full-year outlooks after a disappointing April.
• FedEx Corp. (NYSE: FDX) missed estimates on higher fuel prices and offered lackluster guidance.
• Ford Motor Co. (NYSE: F) warned that 2008 full-year results would be worse than those of 2007.
• General Electric Co. (NYSE: GE) was downgraded by JP Morgan because of risk to earnings.
• J.M. Smucker Co. (NYSE: SJM) missed Q4 earnings expectations despite acquisitions-based growth.
• La-Z-Boy Inc. (NYSE: LZB) said it swung to a Q4 loss due to diminishing retail sales.
• Lehman Brothers Holdings Inc. (NYSE: LEH) CEO expressed his disappointment in the Q2 results.
• Merrill Lynch & Co. (NYSE: MER) profit warnings and write-downs hit the rumor mill.
• Morgan Stanley (NYSE: MS) beat low expectations despite a hefty decline in Q2 profits (see transcript).
• Pier 1 Imports Inc. (NYSE: PIR) narrowed its Q1 loss but still fell short of expectations.
• Winnebago Industries Inc. (NYSE: WGO) posted dismal Q3 results but still beat low expectations.

More earnings highlights from this week: Goldman Sachs, Best Buy, General Mills, Carnival and others

Shares of Winnebago Industries (NYSE: WGO) dropped well over 9% on Friday. This sell-off came in response to the company's third-quarter earnings. They were awful. The top line declined over 39% to $139.7 million. Net income dropped precipitously to $0.10 per diluted share. In last year's Q3, Winnebago booked earnings of $0.35 per diluted share.

Winnebago came out on top in terms of earnings expectations. Wall Street was only looking for $0.03 per share. In this case, though, I think the sell-off was warranted, even with bottom-line performance that was better than expected. First, the company did generate an operating loss. Second, the economy is struggling with high energy prices and the prospect of a Fed that might need to become aggressive against inflation at some point, two things that will not inspire confidence in the consumer. Third, with the market in a tailspin yet again, Winnebago is not a defensive stock at all. It would be like buying Ford (NYSE: F) or General Motors (NYSE: GM) to ride out the recession.

Winnebago's stock is near the 52-week low. It has a high yield, but that does nothing for me. I don't think of this company as a value in the slightest. Putting motor homes in my portfolio in this environment is not my idea of fun.

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

MOST NOTEWORTHY: CyberSource, Century Casinos, Spectrum Pharm and Winnebago were today's noteworthy upgrades:

• JMP Securities upgraded shares of CyberSource (NASDAQ: CYBS) to Market Outperform from Market Perform citing valuation, positive management comments regarding BidPay, and incrementally positive industry checks on its fraud product.
  
• Brean Murray upgraded shares of Century Casinos (NASDAQ: CNTY) to Buy from Hold based on continued progress at recently opened properties, reduced Street expectations, and potential catalysts.
  
• Brean Murray also upgraded Spectrum Pharmaceuticals (NASDAQ: SPPI) to Buy from Hold. The firm is highly confident that Spectrum's ozarelix will demonstrate similar efficacy and safety in the current U.S. Phase IIb trial and expects statistical significant. The firm expects Ph III initiations by year-end 2007 and Ph IIb data to be released on 2Q08.
  
• Winnebago Industries (NYSE: WGO) was upgraded to Outperform from Sector Perform at RBC Capital. The firm expects Winnebago to begin to post better earnings from more favorable mix and pricing in the 2008 model year.

OTHER UPGRADES:

• Merrill Lynch upgraded Cardinal Health (NYSE: CAH) to Buy from Neutral.
  
• Goldman upgraded shares of US Airways (NYSE: LCC) to Buy from Neutral.
  
• Avocent Corporation (NASDAQ: AVCT) was upgraded to Accumulate from Source the Funds at Think Equities.
  
• Collins Stewart raised Cyberonics (NASDAQ: CYBX) to Buy from Market Perform.