Wachovia

UPGRADES:
Wachovia and JPMorgan upgrade Gaylord Entertainment (NYSE: GET) to Outperform and Neutral, respectively. Click here to see color on the Wachovia upgrade.

Goldman Sachs upgrades Dr Pepper Snapple (NYSE: DPS) from Neutral to Buy, citing valuation after recent sell-off.

Credit Suisse upgrades Barclays (NYSE: BCS) from ...

Just about the time the bulls appeared to be poised to make a break for it to the upside, a batch of very big numbers from a variety of sources apparently caused them to lose their nerve. One might have thought that getting some details on the banking situation would have been a plus for the market this week. However, the bottom line is that it is still tough to look ahead when faced with the type of numbers we got yesterday.

For starters, while everybody knew that General Motors (GM) was going to lose money – a LOT of money – when you see an earnings report like this one, it takes your breath away. We won’t bore you with the gory details, but when a company the size of GM loses $9.65 per share, you know there are some very big numbers, as well as some very big ...

StreetInsider.com Morning Movers
DuPont Fabros Technology (NYSE: DFT) 34% HIGHER; Reported Q4 FFO of $0.30 and FY FFO of $1.30. Upgraded at Wachovia.
Buffalo Wild Wings, Inc. (Nasdaq: BWLD) 30% HIGHER; reports Q4 EPS of $0.43, 4 cents better than the analyst estimate of $0.39. Revenue for the quarter was $121.2 million, versus the consensus of $117.38 million. Re-affirms guidance.

Terex Corporation (NYSE: TEX) 27% LOWER; reports Q4 loss of $4.84, which may not compare to the analyst estimate of $0.61. Revenue for the quarter was $2.08 billion, versus the consensus of $2.28 billion.  Warned that 2009 sale may fall as much at 35% and may default on debt covenants

Gildan Activewear (NYSE: GIL) 23% LOWER; reports Q1 EPS of $0.04, 1 cent better than the analyst estimate of $0.03. Revenue for the quarter was $184 million, versus the consensus of $221.78 million. Suspends its outlook.
comScore (Nasdaq: SCOR) 23 ...

StreetInsider.com Notable Analyst Rating Changes:

UPGRADES:
Leerink Swann upgrades Pfizer (NYSE: PFE) from Market Perform to Outperform.

Bank of America upgraded Continental Airlines, Inc. (CAL) from Neutral to Buy, citing valuation after the recent price decline.

Stifel Nicolaus upgrades Arthur J. Gallagher (NYSE: AJG) from Sell to Hold.

Sanford ...

Surprise, Surprise, Surprise

Here's a link to listen to an Audio Version of the report:

In short, Friday's session was full of surprises, most of which wound up being positive for the bulls. First, our heroes in horns were able to overcome a surprisingly disappointing report on job creation for January. Although the bears were screaming about recession the very moment the report was released, traders were able to shrug off the data as old news and focus instead on the positive things happening.

Another big surprise was Mr. Softie's (MSFT) hostile bid for Yahoo! (YHOO), which spoke volumes about the current decline in stock prices and the outlook for the business landscape. Apparently Microsoft had already done the deal dance with Yahoo last February, with Yahoo’s stock trading in the $32 range. So, with the stock closing Thursday’s session 40% below last February’s level, the boys ...