Agilent Technologies Inc. (NYSE: A) named Bear of the Day at Zacks.

Avery Dennison Corp. (NYSE: AVY) named Bull of the Day at Zacks.

BP PLC (NYSE: BP) reiterated Hold but raised estimates at Argus.

Conns Inc. (NASDAQ: CONN) named as growth stock of the day at Zacks.

Culp Inc. (NYSE: CFI) named value stock of the day at Zacks.

Thor Industries Inc. (NYSE: THO) reiterated Buy with $42 target at Argus.

Credit Suisse commented that Oracle Corp. (NASDAQ: ORCL) could make the software as a service (SaaS) market come with higher multiples. Those noted positively were RNOW and TLEO, and others were CNQR, CSOD, CTCT, JIVE, MKTG, RP, SNCR and ULTI.

Most investors and traders were out on Monday, but here are some of the standout calls that were still listed with upgrades and downgrades on Monday:

Facebook Inc. (NASDAQ: FB) reiterated Buy but the price target was raised to $33 from $25 at Needham.

General Motor Co. (NYSE: GM) started as Buy with $35 price target at Goldman Sachs.

Yahoo! Inc. (NASDAQ: YHOO) reiterated Buy but price target was raised to $26 from $19 at Needham.

Yum! Brands Inc. (NYSE: YUM) reiterated Buy with $76 target at Bank of America/Merrill Lynch.

24/7 Wall St. again reiterates its Strong Sell rating on the Mayan Calendar.

JON C. OGG

The US dollar index rose today, now up 0.34% at 82.837. The GSCI commodity index is up about 0.5% at 584.39, with commodities prices mixed. WTI crude oil closed up 0.4%% at $84.29/barrel. Brent crude trades down -0.06% at $98.79/barrel. Natural gas rose 1.3% today to $2.45/thousand cubic feet. Gold settled up 0.2% today, at $1,616.90/ounce.

The unofficial closing bells put the DJIA up more than 26 points to 12,127.88 (0.22%), the NASDAQ rose more than 18 points (0.66%) to 2,778.11, and the S&P 500 rose 0.57% or more than 7 points to 1,285.50.

There were several analyst upgrades and downgrades today, including Dollar General (NYSE: DG) reiterated as ‘buy’ at BMO Capital Markets; Marvell Technology Group Ltd. (NASDAQ: MRVL) raised to ‘market perform’ at JMP Securities; Brocade Communications (NASDAQ: BRCD) cut to ‘hold’ at ThinkEquity; Catalyst Health Solutions Inc. (NASDAQ: CHSI) cut to ‘hold’ at Argus; and United Rentals Inc. (NYSE: URI) started as ‘overweight’ at Piper Jaffray.

Earnings reports since markets closed last Friday have been scarce, but here are some price changes for reporting companies as of the last half hour of trading today: JA Solar Holdings Co. Ltd. (NASDAQ: JASO) is up 14.6% at $1.02; United Natural Foods Inc. (NASDAQ: UNFI) is up 2.5% at $51.47 after posting a new 52-week high of $53.99 earlier today; Layne Christensen Co. (NASDAQ: LAYN) is up 3.4% at $19.23; and Dollar General is down -3.4% at $46.83.

On Wednesday, we are scheduled to get earnings reports from Harry Winston Diamond Corp. (NYSE: HWD), Hovnanian Enterprises Inc. (NYSE: HOV), Thor Industries Inc. (NYSE: THO), and Men’s Wearhouse Inc. (NYSE: MW).

Other standouts from today include the following stocks:

Westport Innovations Inc. (NASDAQ: WPRT) is up 20.5% at $26.84. The diesel engine technology company has entered a joint development deal with Caterpillar Inc. (NYSE: CAT). More coverage here.

Groupon Inc. (NASDAQ: GRPN) is up 8.9% at $9.75. The online coupon provider had no news other than a positive analyst’s appraisal.

Fastenal Co. (NASDAQ: FAST) is down -10.4% at $38.86. The wholesale provider of industrial and construction supplies reported weak sales for May.

Stay tuned for Wednesday. Altlanta Fed President Dennis Lockhart, Fed Governor Daniel Tarullo, San Francisco Fed President John Williams, and Fed Vice-Chair Janet Yellen are giving speeches. We have also noted the following events on the schedule (all times Eastern):

• 7:00 a.m. – Mortgage Bankers Association purchase applications
• 8:30 a.m. – Productivity and costs data
• 10:30 a.m. – EIA weekly petroleum status report
• 2:00 p.m. – Beige book
• 3:00 p.m. – Treasury STRIPS

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AON Corporation (NYSE: AON) Cut to Neutral at Citigroup.
AstraZeneca (NYSE: AZN) Cut to Underperform at BofA/ML.
Cisco Systems, Inc. (NASDAQ: CSCO) Reiterated Outperform with $26 target at Credit Suisse.
Digital Realty (NYSE: DLR) Started as Sell at Cantor Fitzgerald.
Digital River Inc. (NASDAQ: DRIV) Cut to Hold at Argus.
Henry Schein, Inc. (NASDAQ: HSIC) Cut to Neutral at Credit Suisse.
International Business Machines Corporation (NYSE: IBM) Started as Buy with $230 target at Stern Agee.  (LINK: FULL DETAILS)
Pep Boys-Manny, Moe & Jack Inc. (NYSE: PBY) Cut to Hold at Argus.
Salesforce.com (NYSE: CRM) named Bear of the Day at Zacks.
Senior Housing Properties Trust (NYSE: SNH) Cut to Hold at Stifel Nicolaus.
Seaspan Corporation (NYSE: SSW) Cut to Market Perform at Wells Fargo.
Sirius Satellite Radio, Inc. (NASDAQ: SIRI) Started as Underweight at Barclays.
Sohu.com Inc. (NASDAQ: SOHU) downgraded to Hold at RBS and Cut to Neutral at Susquehanna.
Sunoco Logistics, LP (NYSE: SXL) named as Bull of the Day at Zacks.
Thor Industries, Inc. (NYSE: THO) named Value stock of the day at Zacks.
Urban Outfitters Inc. (NASDAQ: URBN) Cut to Sell at Brean Murray.
Zoltek Companies, Inc. (NASDAQ: ZOLT) Cut to Underperform at Needham (LINK: FULL SUMMARY).

If you enjoyed the top analyst calls, you can sign up in the box below to join our morning email list to receive news directly in your inbox each morning. We include major analyst upgrades and downgrades, IPO and M&A news, special situation developments, observations on Warren Buffett and key market gurus, as well as special exclusive feature stories.

JON C. OGG

Cabela’s Inc. (NYSE: CAB) Started as Neutral at Credit Suisse.
Emerson Electric Co. (NYSE: EMR) Cut to Neutral at BofA/ML.
Hercules Tech Growth Capital (NASDAQ: HTGC) named Bull of the Day at Zacks.
Micron Technology Inc. (NYSE: MU) Raised to Buy at Citigroup.
MSC Industrial Direct Co. Inc. (NYSE: MSM) Cut to Neutral at BofA/ML.
Netflix, Inc. (NASDAQ: NFLX) Raised to Neutral at Janney.
Southwest Airlines Co. (NYSE: LUV) Cut to Hold at Deutsche Bank.
Sprint Nextel Corporation (NYSE: S) Cut to Neutral at JPMorgan; Cut to Hold at Deutsche Bank.
Thor Industries, Inc. (NYSE: THO) named Value stock of the day at Zacks.
Treehouse Foods Inc. (NYSE: THS) Cut to Neutral at BofA/ML.

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JON C. OGG

We have added in Thomson Reuters estimates, added in price action, and added in color if appropriate on each. As a reminder, some of the days and estimates could have changed, and many may change before the actual reports.

Fuelcell Energy Inc. (NASDAQ: FCEL) is due on Monday and this one has been a disaster in alternative energy.  We do not even care about the losses nor do we interpret anything that the company says as being a sector-moving event. All that matters is whether or not the company can reach profits by 2013 or so.

The Pep Boys – Manny, Moe & Jack (NYSE: PBY) is just one more auto parts company with earnings, but it is one which some investors are hoping is a buyout.  Thomson Reuters has estimates of $0.30 EPS and $537.03 million in revenue; next quarter estimates are $0.25 EPS and $534.44 million in revenues.  With shares around $13.60, the 52-week range is $7.86 to $15.96.

Thor Industries Inc. (NYSE: THO) is not about the movie, but it is about RVs. Thomson Reuters has estimates of $0.67 EPS and $848.92 million in revenue; next quarter estimates are $0.83 EPS and $869.73 million in revenues.  With shares around $31.00, the 52-week range is $20.74 to $39.12.

Hovnanian Enterprises Inc. (NYSE: HOV) is due on Tuesday and we are not expecting anything of any merit other than from “other operations” as housing data just stinks now.  Thomson Reuters has estimates of -$0.51 EPS and $263 million in revenue; next quarter estimates are -$0.38 EPS and $341.35 million in revenues.  With shares around $2.46, the 52-week range is $2.31 to $6.19.

Ciena Corporation (NASDAQ: CIEN) is due Wednesday and the equipment maker could have some very volatile shares as traders will have very little else to focus on.  Thomson Reuters has estimates of -$0.10 EPS and $428.1 million in revenue; next quarter estimates are $0.06 EPS and $456.42 million in revenues.  With shares around $25.30, the 52-week range is $11.86 to $29.24.

Lululemon Athletica Inc. (NASDAQ: LULU) is due next Thursday and it has been impossible to not notice that the chart is becoming strained after a monster run up in the yoga and athletic-wear retailer.  Thomson Reuters has estimates of $0.38 EPS and $180.91 million in revenue; next quarter estimates are $0.40 EPS and $196.95 million in revenues.  With shares around $87.25, the 52-week range is $31.08 to $102.83.  We do not expect that investors will be happy with a “meet and reaffirm guidance” quarter.  As a reminder, we saw this as one of the top analyst calls of last week based upon its chart and valuation.

National Semiconductor Corporation (NYSE: NSM) is due next Thursday and we want to remind that this is only being evaluated for the Texas Instruments Inc. (NYSE: TXN) angle. Thomson Reuters has estimates of $0.27 EPS and $365.15 million in revenue; next quarter estimates are $0.29 EPS and $374.9 million in revenues.

Finisar Corporation (NASDAQ: FNSR) is due with earnings next Friday morning. Thomson Reuters has estimates of $0.33 EPS and $242.89 million in revenue; next quarter estimates are $0.38 EPS and $253.9 million in revenues.  With shares around $21.57, the 52-week range is $11.98 to $46.09.  Keep in mind that this one got killed last quarter as shares fell from $40 to $25 and its shares have traded in a range of $21 to $25 almost ever since.

You are invited to join our free daily email distribution list to hear more about analyst upgrades and downgrades, top day trader and active trader alerts, dividend trends, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

Net income for the quarter was $34.1 million versus $2.1 million a year ago; earnings were $0.66 EPS versus estimates from Thomson Reuters of $0.60 EPS.  Sales for the quarter were $680.19 million, up 64% from $415.47 million a year ago and versus $679.1 million expected.

The problem is not earnings.  It is accounting.  These were preliminary results that have not been completed under auditor review.  And the possible restatement is what hurt shares today.  As started by the company:

• “The Company will file a Form 12b-25 (Notification of Late Filing and Application for Extension to File) with the Securities and Exchange Commission with respect to its Quarterly Report on Form 10-Q for the period ended April 30, 2010 (the “Company’s 10-Q”).  The extension is required because the Company’s independent auditor, Deloitte & Touche LLP (“Deloitte”), has not yet completed its review of the interim financial statements to be included in the Company’s 10-Q due to their evaluation of certain accounting positions previously taken by the Company….. Deloitte is addressing issues relating to the accounting treatment for (a) the Company’s transactions with Stephen Adams and FreedomRoads that were consummated in January 2009, and (b) repurchase reserves relating to agreements with lenders to the Company’s independent dealers and revenue recognition issues with respect to transactions with its independent dealers.  The Company’s accounting treatment for these matters is described in the Company’s 10-K.  The Company continues to work with Deloitte to address these matters.  If the Company is required to change its accounting for these items, there could be material adverse changes to the Company’s results of operations and financial condition for fiscal 2009 and for the first three quarters of fiscal 2010.”

Material adverse changes, that won’t give anyone out there (except short sellers) a THO for Thor….  We have seen over 5 million shares trade hands and the stock is down 6% at $26.34.  At the peak of selling today, the stock briefly traded under $21.00 per share.  The 52-week trading range is $16.65 to $36.85 and the average daily volume is a mere 750,000 shares.

JON C. OGG

Dr Pepper Snapple Group (NYSE: DPS) hit a yearly high of $28.58 as Citigroup gives the company a buy rating in anticipation of the declaration of a dividend or stock buy backs in 2010.

Mead Johnson Nutrition Company (NYSE: MJN) hit a yearly high of $43.68 as rumors of a takeover circulated.  The shares promptly dropped as the rumored purchaser, Danone SA, denied the reports.

Thor Industries (NYSE: THO) hit a yearly high of $30.64 as it reported that its 4Q profits had quadrupled.  

Valassis Communications (NYSE: VCI) hit a yearly high of $25.25, boosted by positive news coming out of Gannett.

Walgreen Company (NYSE: WAG) hit a yearly high of $37.53 after the company’s earnings beat analysts estimates.

Garrett W. McIntyre

• DJIA          8,468.48 (+48.99; +0.58%)
• NASDAQ   1,524.90 (+3.36; +0.22%)
• S&P500     868.15 (+4.99; +0.58%)

Here are some of today’s 52-week low stocks and brief comments:

STOCK (TICKER)                                    Low      Prev.Low
Atlas Pipeline Partners (APL)                   $5.00     $5.39

• Just do not look at the dividend, it is not one you can trust.

4 Kids Entertain. (KDE)                            $1.97      $2.01

• At least it is close to book, or before you start factoring for losses and settlements.

Hansen Medical, Inc. (HNSN)                   $6.16       $6.20

• So much for protection in medical devices, so much for "the next ISRG" as a stock.

IPC The Hospitalist Company, (IPCM)       $13.46   $13.50

• This was formerly one of the few post-IPO’s which was doinggreat. Physician practices are not immune to recessions, and futureoperations may not be as protected or profitable as in prior years witha new administration.

Lufkin Industries, Inc. (LUFK)                    $32.00   $32.02

• Oil field pump units and highway trailers deep in the heart of Texas, with those two downstream sectors in the tank.

Synaptics Incorporated (SYNA)                  $14.43   $14.69

• Buying fewer cellphones means less need for toughscreen phone technology.

Thor Industries (THO)                                $12.09     $12.32

• RV’ing stinks as a business in a recession, even if gas is finally affordable again.

Track Data Corporation (TRAC)                  $0.82    $0.85

• Great investment and news tools, but crummy market has more and more players hanging up their hats.

Transocean (RIG)                                      $41.95   $43.25

• Low oil prices, offshore drilling too expensive for new projects to be started now; shares down roughly 75%.

Merry Christmas and Happy Holidays from the 24/7 Wall St. team!!!!

• Comerica (CMA) Raised to Outperform at Bernstein.
• Fifth Third Bancorp (FITB) Raised to Outperform at Bernstein.
• Iron Mountain (IRM) Raised to Outperform at Credit Suisse.
• Regions Financial (RF) Raised to Outperform at Bernstein.
• SPSS Inc. (SPSS) Raised to Buy at Jefferies.
• TD Ameritrade (AMTD) Raised to Outperform at Raymond James.
• Thor Industries (THO) Raised to Neutral at Baird.
• Transdigm Group (TDG) Raised to Buy at UBS.

Jon C. Ogg
November 5, 2008

The company did not give earnings guidance.  ThomsonReuters (First Call) has estimates listed as over $484 million inrevenues, and the lowest estimates was just under $420 million.

RV sales were pretty grim.  The quarterly sales came in at roughly$331.2 million.  This is a drop of more than 50% from the$664.2 million seen last year.

The company better be thankful that it sells buses.  It reported thatquarterly bus sales were $108.0 million, a gain of 8.5% from $99.5million reported last year. 

One key area to focus on is backlog, as this is used to measurefuture strength or weakness.  Thatis not looking good at all. 

Thor’s backlog at the end ofthe quarter was $381.2 million, down almost 20% from the $476.1 million backlogat the end the same quarter in 2007.   RV backlog was$124.5 million, down a sharp 50% from the $249.7 million last year.Its backlog in buses was up more than 13% from lastyear to $256.6 million.

The company listed its cash and equivalents at roughly $286 million,which the company said will give it "a significant competitiveadvantage in these difficult times."  Thor better hoard that cash allit can.  It sounds like it is going to need it.

Thor’s shares have already been smacked by Thor’s Hammer.  Shares aredown 0.5% at $17.57 today, but the 52-week trading range is $14.68 to$46.00.  Its current market cap is $975 million.

Winnebago Industries Inc. (WGO), its key competitor in RV sales, isactually doing far worse in stock performance.  Its shares are downless than 1% today at $5.95, but its 52-week trading range is $4.22 to$24.83.

If you have ever wanted to own an RV and flush with cash to go on along driving tour around the USA, the RV dealers right now willprobably cut you the deal of a lifetime.

Jon C. Ogg
November 4, 2008