Canaccord Adams gave the Industrial Metals & Minerals industry some bad news as it announced a downgrade on one of its stocks.

Cameco Corp. (CCJ) [Chart - News - Analysis] was downgraded from Buy » Hold on 9/28/2009---a negative sign for the stock that investors will have to endure. FYI, Canaccord Adams uses the following rating scale when analyzing stocks: Buy, Hold, Sell.

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Cameco Corp. has an average analyst recommendation score of 2.5 and competes for investment dollars with BHP Billiton Ltd. (BHP) [Chart - News - Analysis] and BHP Billiton plc (BBL) [Chart - News - Analysis]---two other stocks in the Industrial Metals & Minerals industry that have average analyst recommendation scores of 3.0 and 3.0 respectively.

Analyst recommendations are averaged and scored using the following rating scale:

- 1.0 = Strong Buy

- 2.0 = Buy

- 3.0 = Hold

- 4.0 = Sell

- 5.0 = Strong Sell

Why are Upgrades and Initiations Good and Downgrades Bad?

One event that is almost certain to get a reaction from Wall Street is an analyst upgrade or downgrade. Everyone is looking for an edge in the stock market, and quite often, traders turn to stock analysts to get that edge.

Upgrades and coverage initiations are typically good for stocks because they show that analysts either believe that the stock is going to perform better in the future or that the stock is worth covering and providing analysis on.

Downgrades are typically bad for stocks because they show that analysts believe that the stock is going to perform worse in the future.

What is a Stock Analyst?

Check out the Understanding Stock Analyst Research and Recommendations video and article for more info.

A stock analysts is a person---typically employed by a large bank, investment firm or analysis company---who devotes his/her life to learning and making predictions about a company and its future performance.

Stock analysts sift through company reports and filings, talk to company management, probe customers and competitors and basically do whatever they can to find out if a company is healthy and growing or sick and shrinking. Because this is incredibly demanding work, stock analysts typically only monitor one or two companies at a time.

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August 11

The world's biggest semiconductor equipment maker Applied Materials (AMAT) will dole out third-quarter report card on Tuesday, with analysts expecting a loss of $0.08 per share on revenues of $955.16 million.

Semiconductor equipment makers have slipped into red amid a difficult semiconductor industry environment. During the recession, demand for manufactured electronic items continues to fall off, coercing chipmakers to muddle through sinking sales. Worldwide sales of semiconductors slid 20% to $51.7 billion in the second quarter, according to the Semiconductor Industry Association. Worldwide sales in June were $17.2 billion, down 20% from prior year's $21.6 billion. However, on a quarter-on-quarter basis, worldwide sales were up 17%.

Wireless broadband networks service provider Clearwire Corp. (CLWR) will share the spotlight on Tuesday, as analysts expect the company to report a loss of $0.39 per share on revenues of $65.24 million for the second quarter. The results are due to be released at 4:00 pm ET.

Tuesday's earnings queue includes Banco Itau Holding Financeira S.A. (ITUB), Broadridge Financial Solutions Inc. (BR), Cree Inc. (CREE), Dendreon (DNDN), Mobile Telesystems (MBT), Rentech Inc. (RTK), Tw Telecom Inc. (TWTC).

August 12

Harris Corp. (HRS) will check in from the IT sector at 4:00 pm ET to issue forth its fourth-quarter numbers, with analysts having a consensus earnings estimate of $0.82 per share on revenues of $1.21 billion. While announcing third-quarter results, the company reduced its fiscal 2009 guidance for non-GAAP earnings from continuing operations to a range of $3.77 - $3.79 per share and GAAP earnings to a range of $2.07 - $2.29 per share. Earlier, the company expected non-GAAP earnings of $3.93 - $4.03 per share and GAAP earnings of $3.88 - $3.98 per share. However, Harris continues to expect a 7% growth in revenue from continuing operations for fiscal 2009 over the previous year.

Department stores operator Macy's Inc. (M) is likely to display second-quarter score card Wednesday, with analysts forecasting earnings of $0.12 per share on revenues of $5.20 billion. While releasing first-quarter figures, the company said that it entered the second quarter with a new organization in place and expects to benefit from nearly $400 million of annual expense savings beginning in 2010, and $250 million in the partial year of 2009. The company anticipates an improvement in sales trend from My Macy's beginning in the fourth quarter of 2009 and especially in spring 2010. For fiscal year 2009, Macy's continues to expect ongoing earnings within a range of $0.40 - $0.55 per share, excluding division consolidation costs. The company continues to expect yearly net sales to decline 6% - 8%.

Processed and packaged foods company Sara Lee (SLE) will mete out final-quarter numbers, with analysts projecting earnings of $0.24 per share on revenues of $3.27 billion. On May 7, Sara Lee revised its fiscal 2009 earnings forecast, currently expecting full year earnings between $0.73 and $0.79 per share, compared to previous outlook of $0.72 - $0.79 per share. The company now expects full-year adjusted earnings to be in the range of $0.75 - $0.81 per share, versus the prior forecast of $0.73 - $0.80 per share. Meanwhile, Sara Lee maintained its fiscal 2009 net sales outlook of $12.8 billion - $13 billion.

From the home building sector, which has been facing challenges characterized by worsening trend in foreclosures, high inventory levels of both new and existing homes, growing job losses, tight credit for homebuyers, rise in delinquencies and a hobbled economy, Toll Brothers Inc. (TOL) is expected to incur a loss of $0.32 per share on revenues of $377.06 million for the third quarter, according to the Street analysts. The results are due to be announced before the market opens Wednesday.

Toll Brothers currently estimates to deliver between 2,200 and 2,800 homes in fiscal 2009. The company also projects an average delivered price of between $590 thousand and $620 thousand per home.

Other companies reporting Wednesday include Advance Auto Parts (AAP), BHP Billiton Plc (BHP), Cameco (CCJ), JA Solar Holdings Co. Ltd. (JASO), Kinross Gold (KGC), LDK Solar Co. Ltd. (LDK), NetEase.com Inc. (NTES), Penn West Energy Trust (PWE).

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