Google (GOOG) has a new service, as reported in Reuters. Starting now, you can make free calls in the U.S. and Canada from you Gmail account. Calls to other countries will be as cheap as two cents per minute. Google's stock was up $3.22 Wednesday to $454.62.

The process is real simple. Just click on the "call line" option on the chat buddy list in Gmail and type in the number. You can also enter a contact person.

Analyst upgrades:

• Bernstein upgraded Hospira (HSP) to Outperform from market Perform based on valuation, expectations that the company will be able to fix manufacturing issues quickly, and views Propolfol and biosimilars as underappreciated. The firm has a $63 price target on the stock.
• Citigroup upgraded eBay (EBAY) to Buy from Hold citing valuation and improvements to Marketplace. The firm keeps a $28 price target for shares.
• Deutsche Bank upgraded Coca-Cola Femsa (KOF) to Hold from Sell citing lessening acquisition risk and raised its target for shares to $66 from $61.
• Blackstone (BX) and Simon Property (SPG) were upgraded to Conviction Buy from Buy at Goldman.
• BreitBurn Energy (BBEP) was upgraded to Outperform from Market Perform at Wells Fargo.
• SL Green Realty (SLG) was upgraded to Buy from Neutral at BofA/Merrill.

Where is eBay (EBAY) going these days? Sure, the online auctioneer has the same brand power it's had for years, but the transition to bulk discounter from garage-sale auction house hasn't really occurred like CEO John Donahoe wanted it to.

Instead, we see eBay's marketplace still filled with one-off auctions for all kinds of goods (and junk trading hands) along with thousands of Chinese-based bulk sellers selling everything for a few dollars each.

ThinkEquity has initiated coverage on eBay (EBAY) with a hold rating. This is bad news for eBay as it shows one more firm is not willing to raise its bid on the stock.

According to their report, analysts at ThinkEquity believe eBay is making improvements in its search functionality and its trust and safety issues, but the company has been relatively unsuccessful at increasing its total number of users during the past few years.

Analyst Upgrades

• Oppenheimer upgraded Alexion (ALXN) to outperform from perform, citing the recent pullback in shares and expected momentum in the second half of 2010. The firm has a $62 price target for shares.
• FBR Capital upgraded Blue Coat Systems (BCSI) to outperform from market perform, citing positive channel checks and the recent pullback in shares. The firm maintains a $27 price target on the name.
• Needham upgraded Hologic (HOLX) to buy from hold after its mammography survey confirmed that an upgrade cycle for digital mammography is emerging. The firm has a $20 price target for shares.
• eBay (EBAY) was upgraded to neutral from sell at MKM Partners.
• Athenahealth (ATHN) was upgraded to buy from hold at Auriga.
• Las Vegas Sands (LVS) was upgraded to overweight from equal weight at Morgan Stanley.

The market's May 6 'flash crash' has created an opportunity for investors with eBay Inc. (EBAY), first discussed here on May 14, 2009 at a price of $16.84.

Look for eBay's revenue to increase 8-10% in 2010, followed by a likely, double-digit gain in 2011, led by online auction growth and an impressive 20-25% revenue increase by payment service PayPal.

eBay's earnings core remains its auction site boasts more than 89 million active users, and there are ample opportunities for international market growth, particularly in emerging markets.

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

• Amazon.com Inc. (AMZN) strong Q1 results beat earnings expectations, and yet shares sold off.
• American Express Co. (AXP) reported better-than-expected Q1 earnings, which lifted shares.
• Apple Inc. (AAPL) shares rose to a new all-time high after it said earnings surged 90% in its Q2.
• Coca-Cola Co. (KO) beat Q1 earnings estimates but weaker-than-expected revenue sent shares lower.
• eBay Inc. (EBAY) shares sold off after Q1 earnings were in line with expectations and guidance was weak.

eBay, Inc. (EBAY), the major name in online auctions, is down nearly 7% as I write this. Volume is extremely strong. A bad reaction to the latest earnings report is responsible for all the selling. Is the pullback an opportunity?

It's always difficult to buy a pullback, isn't it? A significant one like 7% is particularly difficult. You have to wonder if your bullish belief is on the mark or completely and utterly wrong. In the last twelve months, eBay has been trending higher. And it wasn't too long ago that the stock hit a 52-week high.

March PPI rose 0.7%, but core prices rose only 0.1%. The annual rate of inflation fell marginally to 0.9% in March versus 1.0% in February. That was much higher a year ago. Today's news gave the Fed a reason to stand pat on no rate hikes. The other good news is those pesky jobless claims showed the first drop in 3 weeks by 24,000 down to 456,000. Even the continuing claims (the long-lived army of the unemployed) fell 40,000 to 4,646,000.

And despite more calls for more regulation from the Obama administration, stocks staged a much better close than they indicated this morning before the open, even if the Black-Red verdict was not evident until the final minutes of the day.

Here were today's closing bell levels:

Dow 11,134.29 +9.37 (0.08%)
S&P 500 1,208.67 +2.74 (0.23%)
Nasdaq 2,519.07 +14.46 (0.58%)

Top Day Trader Alerts

IBM (IBM)) is expected to report Q1 EPS the market close on April 19. May and July put option implied volatility is at 19, October is at 21; below its 26-week average of 22 according to Track Data, suggesting decreasing price movement.

eBay (EBAY) closed at $27.04. EBAY is expected to report Q1 EPS on April 21. EBAY May put volatility is at 34, July is at 31, October is at 30; verses its 26-week average of 34, according to Track Data, suggesting non-directional price movement.

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

Pointing at decreased listing volume, slower than expected growth, and issues of currency exchange rates, Kaufman Bros. analysts have downgraded shares of eBay Inc. (EBAY). Kaufman analyst Aaron Kessler indicates that his company remains positive on eBay, even though it has downgraded the stock from buy to hold.

It would seem that the issue of currency exchange might be the greatest concern here, as many of us wait to see how valuation of the yuan shall unfold. If the yuan appreciates significantly, which it probably won't, it could mildly affect eBay's listing mix, but probably not to any noticeable degree.

Analyst Upgrades

• BMO Capital upgraded EOG Resources (EOG) to market perform from underperform. The firm has a $100 target on the stock.
• Morgan Joseph upgraded Glimcher Realty (GRT) to buy from neutral with a $6.50 target. The firm believes the company has solved most of its liquidity problems while its dividend yield is very attractive.
• Citigroup upgraded AmerisourceBergen (ABC) to buy from hold.
• Lincoln Electric (LECO) was upgraded to gradually accumulate from hold at Soleil.
• BMC Software (BMC) was upgraded to outperform from neutral at Credit Suisse.
• Mercer (MERC) was upgraded to outperform from market perform at Raymond James.

Analyst Upgrades

• Wells Fargo upgraded its sector rating on large-cap U.S. banks to market weight from underweight to reflect improving economic data, valuations in the space and reduced concerns of regulatory changes.
• Soleil upgraded Disney (DIS) to buy from hold, citing better ESPN affiliate fee and cruise ship expectations. The firm upped its target price for shares to $42 from $30.
• Baird upgraded Huron (HURN) to outperform from neutral, citing the company's better-than-expected retention efforts of MDs in core segments and continued stabilization in its more cyclical segments. The firm raised its price target to $30 from $27.
• Schlumberger (SLB) was upgraded to strong buy from outperform at Raymond James.
• Dollar General (DG) was upgraded to outperform from market perform at Wells Fargo.
• UDR Inc (UDR) was upgraded to outperform from sector perform at RBC Capital.

In the 2004 counterfeit goods lawsuit brought against online auction giant eBay (EBAY) by Tiffany & Co. (TIF), a New York appeals court has ruled in favor of eBay. The suit stemmed from an independent investigation conducted by Tiffany, where an investigatory sampling determined that more than 70% of supposed Tiffany items on eBay were found to be fakes. Tiffany maintains that eBay bears responsibility for cleaning out those counterfeit items.

Yes, eBay bears some responsibility in this matter, but that responsibility begins and ends at the removal of offending listings when they are reported or discovered. Any random examination of listings by eBay for potential rule violations or illegal activities falls under the heading of good faith, not due diligence.

When it comes to mobile, eBay (EBAY) has definitely been aggressive. Then again, this is a way to jump-start its e-commerce business, which has faced competitive pressures over the past few years.

So this week, eBay announced two new iPhone apps -- one for the global marketplace and the other for the company's classifieds site. In fact, it is now possible to take a photo and list an item within 60 seconds.