• The first non-footwear Crocs-branded products included a line of adult and children’s socks from Sock and Accessories Brands, which launched in the holiday 2011 season.  These will also be available in Europe.
• Crocs has also signed up with Accessory Exchange for it to produce Crocs-branded accessories for men, women and children. These will include hats, bags, backpacks, socks and gloves for Crocs retail stores and the Crocs.com website.
• In April 2012, the Crocs brand will extend to children’s apparel through an agreement with the A Group in 46 countries. Crocs-branded sunglasses and sunglass accessories also will launch in May 2012 in a deal with Eye King, LLC to produce sunglasses for adults and youth for retail and wholesale distribution in the U.S. and Canada.
• Crocs Professional Footwear Division is in a partnership with ICER Brands to “build on the loyal following of medical professionals with the introduction of Crocs-branded scrubs. This new medical gear is available now through specialty stores and online.” 
• Paramount, a sports licensee, recently kicked off Collegiate and MLB licensed footwear for the brand.

OK. so let’s get this straight.  Medical scrubs, baseball shoes, eyeglasses, hats backpacks, and gloves… All with the Crocs label on them.

This just sounds bad on the surface.  As far as investors are concerned, if it grows the brand and captures new sales that were previously uncharted then it is a win.

200 million pairs of shoes sold is probably a better judge than us calling Crox one of the ugliest brands that there is.  After all, opinions greatly differ and the sales results probably speak louder than critical words.

JON C. OGG

The unofficial closing bells put the DJIA down more than 13 points to 12,449.08 (-0.11%), the NASDAQ rose more than 8 points (0.31%) to 2,710.76, and the S&P 500 rose 0.03% or less than 1 point to 1,292.44.

There were several analyst upgrades and downgrades today, including Alcatel-Lucent, S.A. (NYSE: ALU) raised to ‘buy’ at Deutsche Bank; WebMD Health Corp. (NASDAQ: WBMD) cut to ‘market perform’ at Wells Fargo; Urban Outfitters Inc. (NASDAQ: URBN) cut to ‘sell’ at Citigroup; Ralph Lauren Corp. (NYSE: RL) cut to ‘market perform’ at Wells Fargo; and American Water Works Co. Inc. (NYSE: AWK) raised to ‘buy’ at Ladenburg Thalmann.

Earnings reports since markets closed yesterday have led to some price changes: Lennar Corp. (NYSE: LEN) is up 6.3% at $22.07 after posting a new 52-week high of $22.53 earlier today; Supervalu Inc. (NYSE: SVU) is down nearly -13% at $7.33; Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) is up more than 5.5% at $2.65; SemiLEDS Corp. (NASDAQ: LEDS) is more than 5% at $3.69; and Synnex Corp. (NYSE: SNX) is up more than 8% at $34.80.

Other standouts from today include the following stocks:

JA Solar Holdings Co. Ltd. (NASDAQ: JASO) is up more than 37% at $1.97. The Chinese solar maker is among several Chinese solar companies getting a boost today from news that solar panel prices appear to be stabilizing. We have more coverage here.

YRC Worldwide Inc. (NASDAQ: YRCW) is up nearly 16% at $11.38. The transportation company has said it will auction 62 of its surplus US sites.

Crocs Inc. (NASDAQ: CROX) is up more than 17% at $18.73. The funny-shoe company has estimated that sales in the current fiscal year will top $1 billion for the first time.

Hecla Mining Co. (NYSE: HL) is down about -22% at $4.55, after posting a new 52-week low of $4.25 earlier today. The silver miner has lowered its production estimate due to a forced closure of a shaft at its Nevada mine.

Hill-Rom Holdings Inc. (NYSE: HRC) is down nearly -12% at $30.45. The medical equipment maker and services provider lowered fourth-quarter and full-year guidance last night.

Stay tuned for Thursday. Here are the noteworthy events on the schedule (all times Eastern):

• 8:30 a.m. – Initial unemployment benefits claims report
• 8:30 a.m. – Census Bureau retail sales report
• 10:00 a.m. – Census Bureau business inventories report
• 10:30 a.m. – EIA weekly natural gas status report
• 1:00 p.m. – 30-year bond auction
• 2:00 p.m. – US Treasury budget
• 4:30 p.m. – Federal Reserve balance sheet

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Paul Ausick

Cree, Inc. (NASDAQ: CREE) is down 4.8% before market open to $26.45, relative to a 52-week range of $23.03 – $72.85.

Crocs, Inc. (NASDAQ: CROX) is up 2.7% before market open to $16.60, relative to a 52-week range of $13.20 – $32.47.

Ericsson (NASDAQ: ERIC) is down 4.7% premarket to $9.91, relative to a 52-week range of $8.83 – $15.44.

Intel Corporation (NASDAQ: INTC) is up 3.5% premarket to $24.22, relative to a 52-week range of $18.90 – $23.96.

Yahoo, Inc. (NASDAQ: YHOO) is up 3.6% premarket to $16.04, relative to a 52-week range of $11.09 – $18.84.

The unofficial closing bells put the DJIA up triple digits with a gain of 178 points to 11,575.46, the NASDAQ rose more than 42 (1.6%) to 2,657.43, and the S&P 500 rose 2% or 24 points to 1,225.28.  Today’s top analyst upgrade and downgrade calls were numerous and included Charter Communications Inc. (NASDAQ: CHTR), Halliburton Company (NYSE: HAL), and more than a dozen other companies.

There has been a turnaround from the indicated loss in Bank of America Corporation (NYSE: BAC) after its earnings showed that book value managed to actually grow and the stock was up almost 10% at $6.63 late in the session.

Some food for thought… Now the MLP and pipeline sector may look cheap on the heels of the El Paso Corporation (NYSE: EP) buyout.

As far as the other big earnings report reactions today (prices within 20 minutes of the closing bell): The Coca-Cola Company (NYSE: KO) was down 0.3% at $66.79; International Business Machines Corporation (NYSE: IBM) was a huge drag on teh DJIA with shares still down 4.5% at $178.30; Johnson & Johnson (NYSE: JNJ) was up 1.2% at $64.54; State Street Corporation (NYSE: STT) was up 9% at $36.97.

Several other standouts from today are as follows…

American Public Education Inc. (NASDAQ: APEI) lost more than 20% of its value to $30.05 after the American Military University will see far lower tuition assistance from the U.S. Marine Corps.

Badger Meter Inc. (NYSE: BMI) was a loser even if it is supposed to be a water winner after missing earnings estimates.  Shares were down 13% at $29.08 in the final minutes of the day.

Crocs Inc. (NASDAQ: CROX) was a disaster after an earnings warning that would not have been so bad had the stock not been up 100% from its 52-week lows before the report.  The stock was down a massive 39% at $16.20 right before the close on more than 8-times normal volume of 25 million shares.

Halozyme Therapeutics Inc. (NASDAQ: HALO) was such a winner that it should be called “Master Chief” for its stock ticker.  Its subcutaneous Herceptin trial met the study goals and the stock was up over 18% at $7.34 right before the close.  This was not even a 52-week high.

Harley-Davidson Inc. (NYSE: HOG) was about 4% shy of sales targets in its earnings report and that had the stock down 7% to $34.56 right before the close.  With a 52-week high of $46.88, it seemed a bit harsh of a reaction even with slightly lower margin guidance.

Human Genome Sciences Inc. (NASDAQ: HGSI) was up over 15% at $12.95 on reports that a $25.00 per share buyout could be headed its way.  We gave a handicap on the odds of a deal happening.

USEC Inc. (NYSE: USU) broke a major run higher today and still no news exists.  The belief is that the loan approval from the DOE may get a better review now that solar loan fraud seems to be prevailing after Solyndra.  Shares were down 4% at $2.10 right before the close.  Still, this was a $1.30 stock just last Thursday.

Stay tuned for Wednesday.  We have speeches to watch from Rosengren and Lockhart on the docket as well as a hearing about ETFs.  Here are some economic releases due in the morning and throughout the day:

• 8:30 September CPI
• 8:30 Housing Starts
• 10:30 Weekly Oil Inventories
• 2:00 PM Beige Book

JON C. OGG

AMR Corporation (NYSE: AMR) is down 5.4% premarket to $2.61, relative to a 52-week range of $1.75-$8.98.

Bank of America Corporation (NYSE: BAC) is up 2% before market open to $6.15, relative to a 52-week range of $5.13 – $15.31.

Crocs, Inc. (NASDAQ: CROX) is down more than 35% premarket to $17.27, relative to a 52-week range of $13.20 – $32.47. The company has lowered its 3Q forecast substantially.

Human Genome Sciences, Inc. (NASDAQ: HGSI) is up 9.2% before market open to $12.34, relative to a 52-week range of $10.40 – $30.15.

That was then, this is now…  Wall Street lives by a “what have you done for me lately and what will you do for me tomorrow” creed.  That creed is causing major pain in CROCS after the close.

The shoe (and apparel) maker reported that earnings were going to come in at $0.31 to $0.33 EPS on $273 to $275 million in sales.  The company had previously offered guidance of $0.40 EPS and $280 million in sales (by and large the consensus estimates.

CROCS went on record by saying that direct channel sales in outlets and kiosks were soft after having been strong in the spring and summer. That in turn drove down margins.

After a big move up and in the “what will you do for me tomorrow” scenario, CROCS has gone back from a hot stock trying to regain some glory to a company that makes ugly gardening and comfort shoes.

The after-hours is just as ugly as those garden shoes.  Shares are down a whopping 36% at $16.89 after closing down 1.2% at $26.64.  The 52-week trading range is $13.20 to $32.47.

JON C. OGG

We have given much more detail on these individually and we have outlined specifics on each.  In some cases, we have even included what the expected impact could be to the shares if it is a price-changing event. 

We created a separate detailed earnings calendar with full previews already and that can be accessed.  We also have to watch for key inflation data this week as outlined in our economic summary for the key issues to watch this week from government scores on economic data.  Also, here is a list of the Top 7 Analyst Calls of Last Week with big predictions or controversial calls.

American International Group Inc. (NYSE: AIG) was highlighted in Barron’s as a “Moment of Truth” due to the current share sale that has run into issues.  The Treasury wants closer to current prices, but investment bankers think more of a discount has to be offered due to the dilution.  Consider this the second week of a five or six-week ordeal.

Ancestry.com Inc. (NASDAQ: ACOM) is expected to have its secondary price this week, perhaps Tuesday) for 3.75 million shares.  At $40.95 on Friday, this one has a 52-week range of $15.23 to $45.79. Keep in mind that this is from selling holders rather than from the company, but the company did commit to buying $25 million of its stock directly from the holders as part of its $125 million share buyback plan.

Bank of America Corporation (NYSE: BAC) may offer more light on its dividend and on its mortgage putback fears as its annual meeting is Wednesday.  Shares have not been holding up well, particularly when you consider that Bank of America is now well under its book value.

Berkshire Hathaway Inc. (NYSE: BRK-A) (NYSE: BRK-B) turned in its official earnings for the first quarter on Friday and the $966 EPS per A-Share was under a $1,149 per share consensus from Bloomberg.  This was in the news, but we already knew that the net income was going to be stunted due to losses from natural disasters in its insurance operations.  The data had mostly been released the weekend before at the Annual Shareholder Meeting.

BioMimetic Therapeutics Inc. (NASDAQ: BMTI) is rather small at $371 million in market cap and it is by and large at the pre-revenue stage.  It is also thinly covered by analysts. This coming Thursday will begin a FDA Advisory Panel meeting with a consideration for the company’s new bone graft product.

National Bank of Greece S.A. (NYSE: NBG) is lower after filing its paperwork for an extraordinary meeting of shareholders last night; shares are down 3.2% at $2.11 in pre-market trading and this is challenging another 52-week low as the 52-week trading range is $2.10 to $7.95.

Starbucks Corporation (NASDAQ: SBUX) is 3% higher after posting positive 3Q earnings after yesterday’s close. At $30.61, the SBUX is trading above its 52-week range of $19.25 – $30.00.

Crocs, Inc. (NASDAQ: CROX) beat earnings consensus again on their 3Q, but the $0.28 per share profit was somewhat below the average beat. CROX is down more than 6%. At $13.90, it is close to the peak of its 52-week range of $4.33 – $14.94.

Atmel Corporation (NASDAQ: ATML) was raised to strong buy from buy at Needham. Shares of ATML are up nearly 10% to $9.80. This is well above the 52-week range of $3.73-$9.06.

Jazz Pharmaceuticals (NASDAQ: JAZZ) is 12% higher to $14.00 after beating quarterly estimates and increasing its year-long outlook. The stock is above its 52-week high of $13.95.

Four years ago, Crocs  seemed doomed after George B. Boedecker, the footwear maker’s largest shareholder, resigned from the board the same week he was arrested for threatening to slit his the throat of  brother-in-law’s who was in the midst of a nasty divorce from his sister.  (Charges were later dropped and the case was settled) At the same time, auditors found “material weaknesses” in the company’s financial statements.

In 2009,  the board replaced CEO Ronald Snyder who presided over the boom and bust of Crocs with corporate turnaround expert John H. Duerden. Snyder, though, did not go away empty-handed. According to the Colorado company’s proxy,  the 53-year-old was paid a $3.03 million “retirement package”    Deurden, whose retirement at age 68 seems more plausible, was paid $2.23 million.  His service ended in March when Chief Operating Officer Joel McCarvel took the job.  Crocs now seems to be heading in the right direction.

Shares are up more than 142 percent this year as investors bet that a public weary of spending their days pounding the pavement looking for work would want to invest in the comfortable yet ugly shoes.  (I own two pairs).  Crocs smartly decided to diversify its product line including its recent addition of modestly priced back-to-school shoes.

Interestingly, the board features two veterans of Circuit City, the electronic retailer that went bankrupt and closed its doors in 2009.  Perhaps,  Crocs is benefitting from the advice of Richard Cannon (ex Circuit City CEO) and Richard Sharp (ex Circuit City General Counsel) about what not to do.  Whatever the management team is doing at Crocs they should keep doing it because it seems to be working.

Second quarter 2010 net income was $32.3 million, or 37 cents per share, reversing a loss a year ago. Revenue in the second quarter increased 15% year-over-year . Operating Margin Improves to 16.9% Selling, General, & Administrative expenses decreased 25.8% to $93.2 million or 40.9% of sales. The Company’s cash and cash equivalents as of June 30, 2010 increased 25% to $96.9 million. It had no bank debt as of June 30, 2010.

No wonder most Wall Street analysts think the stock is a buy.

Jonathan Berr

Activision Blizzard, Inc. (NASDAQ: ATVI) is getting clipped this morning after its revenue for Q2 and outlook for Q3 failed to ignite any buying.  Shares are trading down over 7% at $10.90 on almost 1 million shares.

ATP Oil & Gas Corp. (NASDAQ: ATPG) reported a wider loss than expected; shares are down 15% at $11.29 on about 400,000 shares.

American Public Education, Inc. (NASDAQ: APEI) is getting crushed after it guided lower due to military recruiting.  A GAO report from yesterday also is pressuring the group on a continued basis as for-profit education is under fire in D.C.  Shares are down over 35% and just under $27.50 on over 500,000 shares.

CROCS, Inc. (NASDAQ: CROX) is surging higher this morning after it beat earnings estimates and guided higher for next quarter.  The ugly-shoe maker is seeing shares up almost 9% at $13.67 on over 130,000 shares.

GenVec, Inc. (NASDAQ: GNVC) is trading higher on news that it has a hearing loss development pact with Novartis.  Shares are trading up 13%, but this is still a penny stock trading at $0.58.

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JON C. OGG