• San Francisco Fed Reserve Bank President Yellen to speak about the U.S. economic outlook at the University of California/San Diego with a Q&A session.
• Aracruz Cellulose (NYSE: ARA) to report Q2 earnings; conference call at 11:00am.

• Richmond Fed Reserve Bank President Lacker to speak about U.S. economic outlook to the National Economists Club in Washington with a Q&A session expected.
• Gulfmark Offshore, Inc. (NYSE: GLF) to discuss the acquisition of Ridgon Marine at 9:00am.
• Alcoa Inc. (NYSE: AA) to report Q2 earnings; conference call at 5:00pm.
• Hansen Natural Corporation (NASDAQ: HANS) to give Business News update at 5:00pm.

• Wolverine World Wide, Inc. (NYSE: WWW) to report Q2 earnings; conference call at 8:30am.
• Hot Topic, Inc. (NASDAQ: HOTT) and Zumiez Inc. (NASDAQ: ZUMZ) to hold June sales conference calls at 4:00pm.
• Ruby Tuesday, Inc. (NYSE: RT) to report Q4 earnings; conference call at 5:00pm.

• Wal-Mart Stores, Inc. (NYSE: WMT) and The Gap, Inc. (NYSE: GPS) to hold June sales conference calls at 8:00am.
• Marriott International, Inc. (NYSE: MAR) to report Q2 earnings; conference call at 10:00am.
• San Francisco Fed Reserve Bank President Yellen to speak in Portland with a Q&A session at 3:30pm.

• General Electric Company (NYSE: GE) to report Q2 earnings; conference call at 8:30am.
• Infosys Technologies Limited (NASDAQ: INFY) to report Q1 earnings; conference call at 8:30am.

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

• American International Group Inc. (NYE: AIG) reported a loss of $7.8 billion but raised its dividend.
• Barr Pharmaceuticals Inc. (NYSE: BRL) missed earnings estimates and lowered its guidance.
• D.R. Horton Inc. (NYSE: DHI) posted a larger-than-expected Q2 loss on further write-downs.
• Fannie Mae (NYSE: FNM) posted its third straight quarterly loss on the continuing housing slump.
• Hansen Natural Corp. (NASDAQ: HANS) lower-than-estimated Q1 profit led shares to a 52-week low.
• Lazard Ltd. (NYSE: LAZ) net income dropped 71% on a fall-off of M&A activity and a write-down.
• MGM Mirage Inc. NYSE: MGM) Q1 profits were dragged down by decreased consumer spending.
• Pilgrims Pride Corp. (NYSE: PPC) widened its Q2 loss due to the rising cost of feed.
• Playboy Enterprises Inc. (NYSE: PLA) swung to a Q1 loss as revenue declined in all units.
• Qwest Communications (NYSE: Q) net income and revenue fell in the first quarter.
• Scotts Miracle Gro Co. (NYSE: SMG) blamed a slow start to spring for its Q2 profit decline.
• Teva Pharmaceutical Industries Inc. (NASDAQ: TEVA) posted a Q1 loss due to a charge.
• THQ Inc. (NASDAQ: THQI) posted a loss for its fourth quarter and revenues flat for the year.
• Toyota Motor Corp. (NYSE: TM) posted lower-than-expected Q4 results due to the U.S. economic slump.
• Warner Music Group Corp. (NYSE: WMG) Q2 loss widened and it suspended its quarterly dividend.

Also, Jim Cramer takes a look at the implications of AIG's big loss. And a lack of earnings guidance from Dr. Pepper Snapple Group Inc. (NYSE: DPS) had investors skittish as the company began trading this week.

Upcoming results to watch for include Sprint Nextel (NYSE: S), XM Satellite Radio Holdings (NASDAQ: XMSR), Sirius Satellite Radio (NASDAQ: SIRI), Electronic Arts (NASDAQ: ERTS), Whole Foods (NASDAQ: WFMI), Wal-Mart (NYSE: WMT), Deere & Co. (NYSE: DE), Toll Brothers (NYSE: TOL), Applied Materials (NASDAQ: AMAT), JC Penney (NYSE: JCP), Macy's (NYSE: M), Nordstrom (NYSE: JWN), Hewlett-Packard (NYSE: HPQ), Abercrombie & Fitch (NYSE: ANF).

Visit AOL Money & Finance for more earnings coverage.

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• DJIA 12,867.27 (+52.92; +0.41%)
• S&P500 1,397.60 (+5.03; +0.36%)
• NASDAQ 2,451.49 (+13.00; +0.53%)
• 10YR-TBond 3.805% (-0.062%)
• 52-WEEK LOWS
• Top Analyst Calls

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• Costco (NASDAQ: COST) shares are up 1.2% in premarket trading after the warehouse club retailer said April same-store sales increased 8%, beating analysts' expectations of 6.1%.
• Wal-Mart Stores Inc. (NYSE: WMT) shares are also higher in premarket trading, up 1.8%, after the world's largest retailer, said same-store sales climbed 3.2%, beating the 2.1% forecast by analysts. Staying with Wal-Mart for a moment, it said it plans to invest millions in Canada and open more supercenters.
• The more luxurious items, though, such as lingerie sold at Limited Brands (NYSE: LTD) have seen a slowdown as the company said that April same-store sales fell 5%, falling short of the 2.3% sales decline analysts had anticipated.

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We are investing in optimistic times. News -- good or bad -- seems to magically morph into an opportunity to move markets higher. In the past week, even more than usual, weak economic news was accompanied by commentary along the lines of, "it could have been worse," and other euphoric sentiments.

It is difficult to determine whether this is another short-covering bear market bounce or a real rally. But next week will bring us new information that will start to indicate where the answer lies. For now, investors are looking at the glass as half-full. Cash on the sidelines is moving in to equities, partly because there are very few other alternatives. Yields are low, commodities are risky and real estate is taboo.

Next week begins with the celebration of Cinco de Mayo, yet the markets were way ahead -- it has shifted into party mode on its own during the past few weeks. Here is a summary of key events to watch during the week ahead:

Monday, May 5

First off, the market gets a chance to react to news of Microsoft withdrawing its bid for Yahoo. It will be interesting to see how far Yahoo's stock price sinks as well as what all the market watchers think Yahoo (NASDAQ: YHOO) and Microsoft (NASDAQ: MSFT) will do next.

Hewitt Associates (NYSE: HEW) the HR firm that has been showing amazing strength is set to report. First Call is looking for quarterly earnings of $.38 as compared to a year ago of $.23. There may be opportunity for this firm as we go into harder economic times where companies are looking for an easy solution to labor concerns.

Also reporting is Nam Tai Electronics (NYSE: NTE). It could have a good quarter since the need for computer parts is on the rise. Intel and Apple did well to show that international demand is still hot for electronics and this is one of the parts manufacturers. Through its electronics manufacturing services operations, Nam Tai makes electronic components and sub-assemblies, including liquid crystal display (LCD) panels, LCD modules, flexible printed circuit sub-assemblies and image sensors modules and printed circuit board assembly for Bluetooth headsets. First Call estimates are for $.19 as compared to year ago of $.19 per share on $163 million of revenue.

Chicken anyone? The recent rise in food prices and the concern over demand will show up in the earnings for Pilgrims Pride (NYSE: PPC). We have seen a few competitors report recently and the numbers have been coming in solid. Earnings are expected to be a loss of 81 cents. The earnings loss is expected to be double that of the year ago period.

If you think that the markets are full of hot air, maybe you should look at Airgas (NYSE: ARG) as a potential opportunity. Technically the chart looks similar to almost every other stock in the U.S. It is showing a double bottom with a share price now approaching its breakout point. Keeping above its 200 day moving average and making higher lows, makes for a nice chart. Watch for the earnings announcement, which is expected to show a nice move to $.73 for the recent quarter on $1.6 $1.06* billion of revenue. (*CORRECTED REVENUE)

After the close, Career Education (NASDAQ: CECO) is going to show who is boss. In a slowing economy when workers are laid off... what do they do? Okay, some go home, collect unemployment and drink beer. But there are many who want to be re-trained and find better jobs when the economy gets back into gear. Given that trend, recently, ITT Educational Services (NYSE: ESI) blew out numbers and shares rocketed 30%. Could we see a similar move for CECO? Perhaps, although the ESI news already helped move the stock. But, once again, on a technical basis, the shares look like they are poised to explode if the quarterly earnings come in at or above the expected 21 cents.

Have you ever noticed that the parking lot at the local fitness club is packed in January? After the taco parties, salsa eating and cervesa drinking from today's festivities, there may be a few amigos who want to shed some of those unsightly pounds. Next stop: Weight Watchers (NYSE: WTW)! Technically the shares are in a mid-term downtrend, yet have been somewhat stable since last quarter's well received earnings release. The street is looking for 74 cents on $442 million of revenue. Let's see how they trimmed the fat to bring up margins before taking too big of a bite with this one.

Tuesday May 6

The partying never stops! Cedar Fair (NYSE:FUN), the amusement park group, will be reporting and looking at the potential for a quarterly loss of $1.05 per share. This is compared to the year ago report at $1.02. Shares have been on a roller-coaster ride lately.

Now for the big one: Fannie Mae (NYSE:FNM). With credit markets seeing a great deal of uncertainly, FNM has been one of the stocks in focus. From the depths of despair, the shares have risen over the past few weeks. No doubt, there are problems. The real question is has the worst passed? Investors are betting they have and the earnings will tell them if they are correct. First Call estimates a loss of 81 cents as compared to a gain of 85 cents last year, same quarter. (See additional FNM/FRE Commentary)

Lots of lipstick on the economic pig may benefit Estee Lauder (NYSE: EL). The company is reporting this day and expectations are for a quarterly gain of 47 cents on $1.879 billion of revenue.

If Tecate was not the choice for Monday's Mexican celebration, then maybe a frosty Molson (NYSE:TAP)? I have my money on beer during economic downturns. Agree? Maybe this is why quarterly earnings estimates are expected at 29 cents, up from 14 cents a year ago. CHUG...CHUG...CHUG!

Bellwether Cisco (NASDAQ:CSCO) is reporting after the close. Technology has been on fire and, if the dollar's weakness has had anything to do with that, network gear company Cisco should benefit. Look for 36 cents on $9.75 billion of revenue.

Rounding out the fun for this day, Disney (NYSE: DIS) will tell us how it has been affected by the global slowdown. If there is any truth to the notion that consumers are spending less, then there could be problems for Disney. Expectations are for quarterly earnings at50 cents per share.

Wednesday, May 7

Earnings for Playboy (NYSE: PLA) are scheduled for after the close on Tuesday, but it will be much more fun to be a part for the action during the conference call. Aside from revealing its strategy and a behind-the-scenes look at earnings, investors will be looking to PLA to strip out all of the excess and cut margins so that they can continue to have a leg-up on the competition. Analysts are suggesting that 6 cents is the per share earnings for this quarter. I will be reading the earnings report closely. Usually there is something interesting to look at. Believe me, I read it for the comments, not the pictures.

Caffeine, I need caffeine. Not coffee, no, no , no - it makes me sweat. How about an energy drink instead? That is what Hansen Natural (NASDAQ: HANS) is hoping you will say. Hansen has been capitalizing on the energy drink craze with its Rumba, Energade and Energy Formula beverage line. Earnings estimates are for a 60% increase over last year to 35 cents per share from revenues of $220 million.

Thursday, May 8

If you believe that the all of the giant casinos are built on the backs of losers, maybe the revitalization of the southern gambling zone, post Katrina will help out Ameristar Casinos (NASDAQ: ASCA). There is nothing positive to say about the chart or fundamentals these days except if you want to roll the dice, have at it. The shares are in a confirmed downturn and riding an overbought topside Bollinger band. Look for 31cents of earnings on the announcement.

Dendreon (NASDAQ: DNDN) is going to announce earnings. This is an interesting biotech company as it has been embroiled in a fight to bring Provenge to market. This is a drug specifically geared toward prostate cancer and seems to work, or so they say. The FDA is being difficult. First Call is looking for revenues of $110,000 with a loss of 25 cents per share. (More insight on DNDN)

Maybe, just maybe, the partying this week gets out of hand. Then, it happens. You ask her that magical question and look to tie The Knot. Your next stop? TheKnot.com (NASDAQ: KNOT) -- your place for all-things wedding-related. This dot com has been around for a while and is still holding on strong. Investors divorced themselves of this one a while ago and shares are down a whopping 50% since the October 2007 high. Earnings are expected to be 5 cents per share on $25 million of revenue.

If that stops your heart, you may look towards the results of fast-moving Vital Signs (NASDAQ: VITL). The company is the designer, manufacturer, and marketer of airway management products for the anesthesia, respiratory/critical care, and interventional cardiology/radiology and sleep disorder markets. Fun stuff indeed! Revenues are expected to be $57 million with earnings of 69 cents for the quarter.

Friday, May 9

Fridays don't usually bring much excitement. A time to kick back with a cold beer (didn't we do that already this week?) and plan for the week to come. Look for Clear Channel (NYSE: CCU) as a proxy for the advertising sector. Otherwise, take a peek at the trade balance numbers, including the trade deficit. There is no reason to believe that there will be any change of direction.

IPO/New Issue Market

Looking at the IPO calendar for the upcoming week, there are three major deals likely to price. The most important one to watch is Colfax Corporation which is being brought by Merrill Lynch. Quite literally a nuts and bolts company, Colfax makes pumps and fluid handling products. Without delving into the high quality customer base, let's just note the $500 million dollar revenue base and strong profitability margins. The stock (ticker to be CFX) is expected to price at $15 to $17, but don't be surprised if this range is higher due to strong demand for shares.

In addition, we have Western Gas Partners LP (WES) which is expected to price on May, 9th. Don't look for too much out of this name, as there will likely be plenty of stock to go around for those that want it. However, the dividend yield is likely to be high so it may prove to be a good long-term total return purchase. Finally, there is another solar company to join the litany of public solar companies already trading. Real Goods Solar, Inc. (RSOL) has a hokey name and that's about it. Not much in the way of profits, and with no brand-name underwriting, do not expect much in the way of initial returns. (For more info check out ZachStocks.)

Disclosure: Horowitz & Company may hold positions of securities mentioned as of the date of publish. Andrew Horowitz is a money manager and author of the The Disciplined Investor - Essential Strategies for Success. Data provided by Briefing.com and other sources believed to be reliable. Dates may change without notice.

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MOST NOTEWORTHY:

• Deutsche Bank upgraded shares of UBS AG (NYSE: UBS) to Buy from Hold after the company announced further write-downs and plans to boost capital.
  
• Jefferies upgraded shares of Ansys (NASDAQ: ANSS) to Buy from Hold as they like the Ansoft (NASDAQ: ANST) acquisition and feel yesterday's sell-off creates an attractive entry point.
  
• AstraZeneca (NYSE: AZN) was raised to Neutral from Underweight at JP Morgan following the positive Crestor study results.

• Piper raised Akamai (NASDAQ: AKAM) to Buy from Neutral.
  
• Goldman upgraded Hansen Natural (NASDAQ: HANS) to Buy from Neutral.
  
• Vertex Pharma (NASDAQ: VRTX) was raised to Market Perform from Underperform at Wachovia and to Outperform from Neutral at Baird.

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Hansen Natural (NASDAQ: HANS) is recently trading down $3.65 to $40.50 in pre-open trading.

HANS reported Q4 EPS of 45 cents versus consensus estimates of 38 cents. Q4 net income was up 103% from last year.

Goldman Sachs says: "the stock fell after-hours based on the margin disappointment and because headline sales growth slowed from 61% in 4Q to 33% in Jan/Feb."

HANS overall option implied volatility of 64 is near its 26-week average of 62 according to Track Data, suggesting non-directional movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

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Before the bell: Futures lower ahead of GDP data; as earnings come in

Apple Inc. (NASDAQ: AAPL) COO Tim Cook, speaking at a Goldman Sachs investment conference, backed Apple's goal of selling 10 million iPhones in fiscal 2008. AAPL shares are up over 2.6% in premarket trading. Cook also said Apple is open to exploring new ways of selling its iPhone including offering it with other networks. Next week, he said, Apple will show developers how to create software for the iPhone. An event is scheduled for March 6.

Reporting today:

• Gap Inc. (NYSE: GPS) is expected to report earnings of 33 cents a share in the fourth quarter.
• Kohl's Corp. (NYSE: KSS) is expected to report earnings of $1.34 a share in the fourth-quarter .
• Hansen Natural Corp. (NASDAQ: HANS) is expected to report earnings of 39 cents a share in the fourth-quarter.
• Viacom Inc. (NYSE: VIA) is expected to report earnings of 83 cents a share in the fourth-quarter.

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Hansen Natural (NASDAQ: HANS) was trading up $1.29 to $38.50 in pre-open trading.

UBS Warburg believes Coke (NYSE: KO) has been looking into a potential acquisition of HANS.

Stifel says: "We reiterate our Buy rating on HANS after shares declined yesterday following a note from an independent research firm."

HANS February option implied volatility of 74 is above its 26-week average of 60 according to Track Data, suggesting larger price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

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The markets stayed in a holding pattern today, not really moving up or down very much. Oil made some mild gains as November futures rose up $1.58 a barrel to $81.52 as a storm is forecast for the Gulf of Mexico.

The NYSE had volume of 2.7 billion shares with 2,024 shares advancing while 1,227 declined for a gain of 41.90 points to close at 10,142.93. On the NASDAQ, 1.7 billion shares traded, 1,659 advanced and 1,294 declined for a gain of 4.14 to 2,733.57.

Hansen Natural Corporation (NASDAQ: HANS) rose $3.92 (7%) to $62.92. RadioShack Corporation (NYSE: RSH) fell $1.25 (-5%) to $21.51. Lennar Corporation (NYSE: LEN) fell $1.48 (-6%) to $24.34. Research In Motion Limited (NASDAQ: RIMM) rose $4.26 (4%) to $100.54. Marriott International, Inc. (NYSE: MAR) fell $2.04 (-5%) to $42.28.

In options there were 3.9 million puts and 6.1 million calls traded for a put/call open interest ratio of 0.64. Verizon Communications, Inc. (NYSE: VZ) saw heavy volume on the October 42.50 calls (VZJV) with over 182,000 options trading. The October 40 calls (VZJH) also had volume move with 164,600 options trading. The stock pays a dividend tomorrow so this is likely dividend arbitrage. Petroleo Brasileiro S.A. (NYSE: PBR) saw heavy volume on the October 60 calls (PBRJL) with over 173,700 options trading and also has a $0.43 dividend tomorrow. AT&T, Inc. (NYSE: T) saw heavy volume on the October 37.50 calls (TJU) with over 75,900 options trading. Research In Motion Limited (NASDAQ: RIMM) moved heavy volume on the October 100 calls (RULJT) with over 38,600 options trading ahead of its earnings after market close today. There were also bearish option players on RIMM with it moving 26,200 October 90 puts (RFYVR) with options trading.

Kevin Kersten is an Options Analyst with InvestorsObserver.com. Disclosure note: Mr. Kersten owns and or controls a diversified portfolio of long and short positions that may include holdings in companies he writes about.

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MOST NOTEWORTHY:

• NutriSystem (NASDAQ: NTRI) was downgraded to Hold from Buy at Lazard and to Buy from Strong Buy at Broadpoint following its lowered Q3 guidance.
  
• Jefferies downgraded shares of Endo Pharmaceuticals (NASDAQ: ENDP) to Hold from Buy after Impax Laboratories (NASDAQ: IPXL) filed a Paragraph IV challenge against Opana ER yesterday to reflect the potential for a generic version of Opana ER arriving as early as 2010 and the possibility of a similar threat against Lidoderm.
  
• Corporate Express (NYSE: CXP) was downgraded to Hold from Buy at ING, as they believe the new CEO's long-term targets are overly ambitious.
  
• JP Morgan downgraded Aventine Renewable (NYSE: AVR) and BioFuel Energy (NASDAQ: BIOF) to Neutral from Overweight, citing weaker fundamentals in ethanol pricing.

• JP Morgan downgraded Charlotte Russe (NASDAQ: CHIC) and The Wet Seal (NASDAQ: WTSLA) to Neutral from Overweight.
  
• Goldman downgraded Monolithic Power Systems (NASDAQ: MPWR) and Hansen Natural (NASDAQ: HANS) to Neutral from Buy; Goldman removed National Semiconductor (NYSE: NSM) from its Conviction Buy List.

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Coca-Cola Co. (NYSE: KO) and PepsiCo Inc. (NYSE: PEP), which are betting that people's thirst for bottled water will continue to grow, would probably prefer that the public ignore an experiment that Penn and Teller did on their Showtime series a few years ago.

Using hidden cameras, the magicians videotaped unsuspecting people at a restaurant who were being served glasses of what they thought were expensive bottled water by a steward. What they didn't know was that their beverage came from a hose. The program is called "Penn and Teller [explicative deleted]," which is exactly how I feel about the bottled water business.

The hype around popular brands, including Vitaminwater, whose corporate parent Glaceau Coke recently agreed to buy for $4.2 billion, fizzes upon closer inspection.

While there are people with bad water and unsafe water, most Americans have perfectly fine water coming out of their taps. In fact, as FastCompany points out, the two leading brands, Pepsi's Aquafina and Coke's Dasani, are purified municipal water. The Natural Resources Defense Council and other experts have repeatedly pointed out that bottled water isn't as strictly regulated as tap water. An NRDC study actually found that 33% of the waters it tested "violated an enforceable state standard or exceeded microbiological-purity guidelines, or both, in at least one sample."

"There are very few differences between the health benefits of bottled and tap water except in isolated circumstances," said Greg Kail, a spokesman for the American Water Works Association, a trade group representing operators of water systems, in an interview. "In North America, we all enjoy some of the safest drinking water in the world."

None of this matters to most bottled water consumers, who are convinced that the H2O in the small plastic jugs that they buy in their supermarket and convenience stores is better for them. It certainly is convenient, which is why I buy some of the stuff myself. There is plenty of room for the industry to grow.

Kim Jeffrey, the CEO of Nestle SA (OTC: NSRGY)'s water business in North America, who oversees US sales of Perrier, San Pellegrino and Poland Spring worth about $4.5 billion this year, told FastCompany that the bottled water business is only about half of the size of the carbonated beverage industry -- but with only 15% of its marketing budget.

That's remarkable considering how much water sales are rising while soda sales are falling. An exception to the rule has been Hansen Natural Corp. (NASDAQ: HANS), whose stock has jumped more than 36% this year. Hansen recently signed a distribution deal with Anheuser-Busch Cos. (NYSE: BUD), which like the soda makers is struggling to revive flagging sales. The stock of another trendy soda company, Jones Soda Co. (NASDAQ: JSDA), has soared more than 41% this year even though it was dropped by Starbucks Corp. (NASDAQ: SBUX).

So look for more over-priced, over-hyped beverages to come to your grocer's cooler soon and for big companies to continue to snap up the companies that make them.

More Vitamin Water news

Beth Gaston Moon: High school vending machines getting more eclectic
Zac Bissonnette: PepsiCo plans a lower-calorie Gatorade
Zac Bissonnette: Experts doubt Snapple will satisfy Coke
Zac Bissonnette: Will Coca-Cola gulp down Snapple?
Joseph Lazzaro: Coke's catching up in the health drink segment
Zac Bissonnette: Coke swallows Vitaminwater
Zac Bissonnette: Coke wants vitamin water
Zac Bissonnette: Coke Zero is no zero, it's a big hit
Sarah Gilbert: Fuze acquisition pits Coke v. Pepsi in ritzy juice war

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MOST NOTEWORTHY:

• Goldman upgraded shares of Intel Corp (NASDAQ: INTC) to Buy from Neutral as they believe Advanced Micro Devices' (AMD) likely move to an outsourced business model will make it easier for the company to retain a product advantage.

• Goldman also upgraded shares of Hansen Natural Corp (NASDAQ: HANS) to Buy from Neutral based on expectations for sales and earnings acceleration in 2H07, driven by recent distribution agreements, a potential European distribution deal and the possibility of a share buyback.

• Soleil upgraded shares of Netflix Inc (NASDAQ: NFLX) to Buy from Hold on valuation as they believe the company will overcome the challenge from Blockbuster (BBI) and outperform the current sentiment.

• Matrix believes strong demand for licensed character products is boosting Marvel Entertainment's (NYSE: MVL) sales and raised its rating on the company to Hold from Strong Sell.

• SMH Capital upgraded The Walt Disney Co (NYSE: DIS) to Buy from Neutral as they believe the Street may be underestimating the free cash flow and earnings power within the Media Networks unit...

• Trump Entertainment Resorts, Inc (NASDAQ: TRMP) was upgraded to Buy from Hold at Morgan Joseph.

• LG Phillips LCD Co, Ltd (NYSE: LPL) was raised to Buy from Hold at Citigroup.

• Cowen raised Inverness Medical Innovations, Inc (AMEX: IMA) to Neutral from Underperform.

• Jefferies upgraded shares of The Pantry, Inc (NASDAQ: PTRY) to Buy from Hold.

• Gold Fields Ltd (NYSE: GFI) was raised to Outperform from Market Perform at BMO Capital.

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A specialist in "breakout" candidates, Leo Fasciocco sees upside potential in Hansen Natural (NASDAQ: HANS), a maker of sodas, juices and teas.

In his Ticker Tape Digest, the technical advisor says, "The company is showing tremendous profit growth. And at current prices, he says, the shares are attractive for value and growth investors.

The company, he notes, has expanded its drink line to include a wide variety of energy drinks, such as the popular Monster brand. Its other products are fruit juice, smoothies, lemonade, iced tea, and spring water -- most of which are sold under the Hansen's brand name.

He points out that the company is also branching out with soy drinks and juices aimed at toddlers.

Technically, he explains, the stock's daily chart of HANS shows a breakout; its momentum indicator is very bullish and getting stronger. The analys adds, "The accumulation - distribution line is making new peaks. That shows the price advance is being supported by good buying."

HANS reported in May that sales for the first quarter increased 38% and according to Fasciocco, net for the second quarter should show a 34% gain. Next year, he points out, analysts predict profits will increase 33% to $1.95 a share from the anticipated $1.46 a share this year.

Meanwhile, he says, the stock sells with a price-earnings ratio of 27,m whic in light of its growth rate can be viewed as attractive for value-growth investors.

He also is impressed with the stock's institutional sponsorship, which he rates as excellent. Indeed, he notes, the top two fund holders have a 5-star rating, which is the highest possible. Amana Trust holds a 5.2% stake and Fidelity Low-Priced Stock Fund has a 3.7% stake.

He notes, "The largest buyer recently was Artisan Mid-Cap Fund, which purchased 1.4 million shares. Meanwhile, CEO Rodney Sacks and vice chairman Hilton Schlosberg each own 20% of the stock."

Fasciocco concludes, "The stock has broken out from an eight-week, flat base expanding volume and its higher could well be a move to reach its all-time high at 52.72. For now, we are targeting a move to 50 within the next six months. A protective stop can be placed near 37."

For more stock picks from the leading financial newsletter advisors, visit Steven Halpern's free daily website, TheStockAdvisors.com.

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