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An interesting situation developed this week in Florida, where Heir Jordan (Michael's son Marcus) cost the University of Central Florida (UCF) its $3 million sponsorship with Adidas. Marcus felt it necessary to wear Nike (NYSE: NKE) basketball shoes, since they were his father's Nike Air Jordans.

Jordan took to the court in an all-white pair of Nike Air Jordans, which differed from the school's normal black-and-white Adidas basketball shoes. Jordan wore ankle braces with the Adidas logo displayed, but this was a cursory move made to placate Adidas. In fact, the move may have been made so he could say that he was wearing Adidas, just not the shoes. Quite honestly, there is a little soap opera surrounding the situation, so let's take a deeper look.

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

• Accenture Ltd. (NYSE: ACN) lower Q4 earnings met analysts' expectations but the Q1 outlook was weak.
• Cal-Maine Foods Inc. (NASDAQ: CALM) posted a Q1 net loss and said it will skip its dividend this quarter.
• Cephalon Inc. (NASDAQ: CEPH) earnings prospects for 2010 resulted in an analyst's downgrade.
• Darden Restaurants Inc. (NYSE: DRI) Q1 earnings beat by a penny but revenue fell short of estimates.
• Gannett Inc. (NYSE: GCI) shares rose after it forecast Q3 earnings above Wall Street estimates.

To Mike Vick or not to Mike Vick, that is the question, and the controversy that is surrounding athletic apparel giant Nike (NYSE: NKE).

Actually it isn't too much of a question, mainly because the company that once used Vick as a celebrity endorser dumped him and his products once he was arrested and charged with running a dog-fighting ring. Vick has spent his time in prison and has since been signed as a back-up quarterback for the Philadelphia Eagles.

Well, earlier this week Mike Principe (one of Vick's agents) announced that Vick had recently inked a deal with Nike. This announcement caused quite a bit of Internet backlash toward the Swoosh, but there were many that thought the deal was "bogus." (That quote is from a tweet by CNBC's Darren Rovell.)

Analyst upgrades:

• Kaufman Bros. upgraded American Superconductor (NASDAQ: AMSC) to Buy from Hold as it believes the follow-on contract from Sinovel has positive implications. The firm has a $36 price target on shares.
• Goldman upgraded Nike (NYSE: NKE) to Buy from Neutral citing valuation, visible long-term growth, and signs of sales stabilization. The firm has a $75 target on shares.
• Deutsche Bank upgraded Huntington Bancshares (NASDAQ: HBAN) to Buy from Hold on valuation following the recent underperformance. The firm raised its target on shares to $5.50 from $4.
• Novartis (NYSE: NVS) was upgraded to Buy from Hold at Citigroup.
• eHealth (NASDAQ: EHTH) was upgraded to Buy from Accumulate at ThinkEquity.
• China Precision Steel (NASDAQ: CPSL) was upgraded to Hold from Sell at Roth Capital.

This afternoon, Nike Inc. (NYSE: NKE) reported its fiscal first quarter numbers, and the company was able to put up better than expected earnings numbers, but revenues came in slightly under expectations.

As we noted in our earnings preview yesterday, analysts had been expecting to see the company show earnings of 97 cents per share, and the actual earnings figure was a bit higher at $1.04 per share. For the same period last year the company showed earnings of $1.03 per share.

After the opening bell, Nike (NYSE: NKE) will be reporting first-quarter earnings results. Analysts are looking for per-share results of 97 cents and revenue of $4.9 billion. Check out Michael Fowlkes' earnings preview for a complete look at this report.

On Monday, option players waved a bullish flag ahead of Nike's results, trading nearly 6,000 contracts at the October 65 strike. With the stock trading at $59.22, this front-month option (expiring in about two-and-a-half weeks) is out-of-the-money by nearly 10%. Open interest expanded from 2,696 to 7,116, meaning that most of these traded to open. The majority were in fact bought to open, trading for about 35 cents apiece.

Nike Inc. (NYSE: NKE) will get its chance to impress Wall Street when it reports its most recent quarterly results Tuesday following the market close. The company will be reporting its fiscal first quarter numbers, and analysts are expecting slightly lower numbers that its first quarter last year.

The giant in sports apparel and footwear last reported earnings back on June 24 when it was able to outpace analyst estimates, and this time around analysts are looking for the company to show earnings of 97 cents per share. In its first quarter last year, the company reported earnings of $1.03 per share.

TheStreet.com's Jim Cramer says a good shakeout on Monday would prepare us for a "fulcrum day" on Tuesday.

Could have been worse. With Research In Motion (NASDAQ: RIMM) (Cramer's Take) never lifting -- which was, by the way, wrong after a certain point -- and oil not rallying, you had no place to go. Last week we lost tech, banks, and oil. You can't even go up with just two of them, so to lose all three was dreadful.

I said last week that the calendar just didn't favor the bulls. The propensity to want to lock in gains ahead of the last weekend in September -- the one that is ended by the Yom Kippur holiday, which will always have thin trading -- is just too great.

Plus, don't forget that every month that is supposed to be bad gets tons of play for being bad: October! Ooooooo, scary! You know that's going to happen again.

Nike's (NYSE: NKE) "swoosh" logo is incredibly powerful and captures the essense of the company. Interestingly enough, back in 1971 Carolyn Davidson designed the logo for a mere $35 (for more stories about logos, check out the LogoBlog).

So of course, your company's logo is critical -- in terms of branding, getting customers, and presenting the right image. And, the good news is that there are many affordable options to get a top-notch one.

Autumn has arrived and the quarter winds down this week. The Dow has been inching toward 10,000 for a while now, though it closed lower in the past three sessions. Can it make it to 10,000 for the start of the third quarter? If so, what will push it higher? If not, what will drag it down further?

• Monday is Yom Kippur, the most solemn of the Jewish holidays; trading likely will be lighter than usual. In the evening, the FDIC meets to discuss how to rebuild the Bank Deposit Insurance Fund.
• Tuesday, the Consumer Confidence Index for September is due and the SEC holds a public meeting to consider more short sale actions.

Nike has strong fundamentals, an exceptional brand, and ample opportunities to expand in emerging markets. And yet the stock has meandered for the better part of four months -- straddling the critical 50-day moving average. What's going on here?

More than likely, institutional investors are concerned that Nike, Inc. (NYSE: NKE) will fall prey to consumer pull-back, even though 60% of the company's sales are outside the now 'frugal consumer' U.S.

Facebook is making the biggest ad splash since Google, according to an article in the Financial Times.

More than four-fifths of the largest advertisers in the United States have turned to the social networking platform to promote their wares -- after several years of fearing these types of communities. The lure of Facebook must have been too much to resist, with 340 million monthly unique visitors. Now, it's not unusual to see the likes of Johnson & Johnson (NYSE: JNJ), Nike (NYSE: NKE), and AT&T (NYSE: ATT) advertising in this world.

Solid performance in the earnings spotlight from Under Armour (NYSE: UA), as the company reported a surprising profit of three cents per share. Under Armour's earnings topped the consensus estimate for a loss of two cents per share and matched the company's year-ago results. Quarterly revenue increased to $164.6 million from $156.7 million a year ago.

The results were driven by a 16.5% increase ($112 million) in clothing revenue, which compensated for an 18.4% drop ($37.5 million) in footwear from a year ago. Looking ahead, Under Armour forecast 2009 earnings between 80 and 82 cents per share, better than the consensus estimate for earnings of 79 cents per share. As far as revenue is concerned, the Maryland-based firm expects $810 million compared to $804.9 from the Street.

In the wake of Starbucks (NASDAQ: SBUX) stronger-than-expected earnings, I found an interesting article about a study published by wiki provider Wetpaint and the Altimeter Group. The study suggests that when a company/brand is more active with its consumers through social media (the likes of Facebook and Twitter), it is more likely that the company will have financial success. The study looked at a group of 100 companies from BusinessWeek's listing of the top 100 brands of 2008 and their activity on Facebook, Twitter, and the likes.

According to the study, the brands scoring the highest on the engagement scale saw 18% revenue growth in the past year. Those brands with the least engagement saw revenue decline 6%. Companies that were the most active were classified as "mavens," while the least active were called "wallflowers."

So, the Open Championship (or the British Open) is set to tee off in Scotland later this week -- and I found an interesting article taking a look at how golfers pick what they will wear. Yes, they go the same route that I went when I was in elementary school -- someone else (my mom in my case, Nike, Inc. (NYSE:NKE) in Tiger Woods') picks out the clothes for them. This New York Times article takes a look at this week's British Open and lets us know exactly what Tiger will be wearing this week. What I find interesting is that Nike determined what Tiger would wear more than a year ago - which is the case with every major tournament this year. In fact, the article notes that Nike started meeting about Tiger's British Open outfits roughly 17 months ago.