We all knew News Corp.'s (NWS) Avatar would cede the top spot to some film someday. To be honest, I didn't think Sony's (SNE) Dear John would be the one to do it.

According to Box Office Mojo, John grossed roughly $32 million at domestic theaters. That was more than enough to put the sci-fi flick in second place. However, no one should feel sad for News Corp.; Avatar's worldwide haul now stands at over $2.2 billion.

How are readers finding the news? Well, increasingly, the answer is Facebook. The social networking site, which boasts well over 350 million registered users, is now the fourth largest referral source of traffic to online news destinations. Almost a year ago, only 0.5% of traffic to news and media sites came from Facebook. Today, that level is 3.5%, according to data from Web analytics firm Experian Hitwise.

Only Google (GOOG), Yahoo! (YHOO) and MSN (MSFT) send more traffic to news sites. Google News, a subset of the search engine giant, failed to keep pace with Facebook, despite the fact that it exists specifically to send Internet users to media outlets. Only 1.39% of referrals came from this source.

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

• Aflac Inc. (AFL) posted better-than-expected Q4 earnings, though revenue fell short, and offered rosy guidance.
• Avon Products Inc. (AVP) posted Q4 earnings growth that met analysts' expectations but shares sold off.
• Cisco Systems inc. (CSCO) higher Q2 earnings topped the consensus estimate but cash flow fell.
• CME Group Inc. (CME) fell short of analysts' Q4 profit expectations, resulting in price-target cuts.
• ExxonMobil Corp. (XOM) posted better-than-expected Q4 earnings and revenue that boosted shares.

News Corp. (NWS), the media conglomerate that competes with Disney (DIS), Time Warner (TWX), and General Electric's (GE) NBC Universal, posted Q2 data after the bell on Tuesday. Shareholders should have few complaints on this one.

Revenues went up 10%, and earnings on an adjusted basis jumped well over 60% to 25 cents per share. According to Reuters, the estimate was 20 cents per share. Besides the beat, cash from operations was a lot better in the current six-month period. In the comparable frame, cash was used to fund operating activities.

U.S. stock futures were nearly flat Wednesday morning, indicating Wall Street may have trouble extending the rally following the prior session's gains. This morning, the parade of earnings reports continues as jobs data is set to take center stage.

[Update: Futures fell slightly after the jobs data, despite ADP reporting the smallest job losses in January in two years.]

On Tuesday, stocks finished the day higher after strong housing data and solid earnings reports helped pushed the Dow industrials to its second straight day of triple digit gains.

Ahhh, Hulu. That wonderful destination where I can re-acquaint myself with my favorite Justin-Timberlake-on-SNL moments, catch up on episodes of Greek, and search for those old Silver Spoons clips I remember so fondly. The two-year-old website is a joint venture between Walt Disney's (DIS) ABC Network, General Electric's (GE) NBC Universal division, and News Corp.'s (NWS) FOX Entertainment Group, and is partially funded by Providence Equity Partners.

But just as online news readers may soon be charged to access The New York Times online, we may have to open our wallets for certain corners of the Hulu universe (they will likely still let me watch Silver Spoons for free).

Did you think Mel Gibson had a chance this past weekend? Probably not. By now, we're all used to seeing News Corp.s (NWS) Avatar take the top spot. And for those keeping score, this is the seventh victory in a row for James Cameron (who, by the way, may offer lessons for entrepreneurs, according to Tom Taulli).

According to early estimates from Box Office Mojo, Avatar made another $30 million at domestic theaters over the past three days. At the time of this writing, the worldwide gross was just under $2 billion (it will definitely go over $2 billion, don't worry). Time Warner's (TWX) Edge of Darkness, starring the aforementioned Gibson, wasn't even close to a challenge for the 3-D aliens. Give it some credit, though: It came in second with $17 million.

The recent announcement by the New York Times (NYT) that it would start to require subscriptions next year has drawn no shortage of attention and commentary. It has tried to put content behind a pay wall before (and failed), as have other newspapers.

Almost universally, newspapers have struggled with online subscriptions, with the Financial Times and Wall Street Journal, a News Corp (NWS) property, the only two that have really delivered results better than awful. Whether the New York Times can operate at that level is in doubt, particularly given the stunning realization about Long Island daily newspaper Newsday.

World Wrestling Entertainment (WWE) hasn't fully succeeded with its film model. The company's slate has yet to produce a bona fide hit yet. Because of this, management has decided to change the strategy governing the operations of the WWE Studios asset.

WWE has elected to take over the marketing/distribution chores for its movies, ditching previous partners Lions Gate Entertainment (LGF) and News Corp. (NWS) in the process, as this article at Variety indicates. However, there's an even bigger change that all shareholders should focus on.

Time Warner's (TWX) The Book of Eli did a commendable job of attempting to dethrone News Corp.'s (NWS) Avatar from the top spot. In the end, it failed. James Cameron has produced a hit that will simply not be stopped. At the time of this writing, early estimates from Box Office Mojo credited the picture with capturing another $41 million over the past weekend at domestic theaters. Avatar is closing in on $500 million, an accomplishment which makes you wonder if this is the wintertime or the summertime.

Eli came in second with $31 million. A reasonably good start for Time Warner considering the power of News Corp.'s new Titanic; word of mouth is now key to propelling the apocalyptic project into solid blockbuster status. The film reportedly has a budget of $80 million attached to it, so hopefully the worldwide gross will be stellar even if the domestic take falters.

The New York Times (NYT) has been struggling to figure out the web, which has led to a debate over whether to charge for electrons that has spanned years. Well, the Times seems likely to take the plunge, hoping to replicate the successes of the Financial Times and Wall Street Journal ... except, of course, that the Wall Street Journal is famous for not really delivering profits. Fortunately, the new pay wall is expected to look more like the Financial Times than the Wall Street Journal. The New York Times is considering a "metered" system. Visitors will be able to read a certain number of articles free before being required to subscribe.

A friend of Arthur Sulzberger, according to New York Magazine's Daily Intel, said that the final word could come in a few days, a sentiment corroborated by a newsroom source who said that the plan could be announced within weeks. Yet, plans need to be implemented, so it could take months for the Times to begin charging for content.

The New York Times (NYT) reports today that newspapers dominate the news creation business.

This is an interesting twist -- instead of touting readers or paid circulation or ads or total revenue, it's talking about production. It's almost as if Ford (F) were to announce: "We make more cars than anyone else." Who the hell cares if they sell any, right? What's important is production, not sales! For the Times, and print media in general, it feels like yet another attempt to justify its existence and "prove" that it is more valuable than the more cost-effective and nimble online outlets.

If Mark Zuckerberg knew then what he knows now ... Facebook would be more like MySpace, which is now owned by News Corp. (NWS). And, he's willing to admit this in public.

In a six-minute on-stage interview with TechCrunch, Zuckerberg went on at length about the social media platform's privacy settings, which have been the subject of unending debate. He says that he'd make more data public by default if he could start Facebook again. Though Zuckerberg cites Internet trends that indicate a reduced concern with privacy, the real reasons are more likely financial.

You just can't stop News Corp.'s (NWS) Avatar. James Cameron's epic 3D picture grossed $48 million at domestic theaters over the weekend, as of early estimates from Box Office Mojo. This puts the grand total at almost $430 million (worldwide, Avatar has made well over a billion bucks). Amazing for this time of year.

News Corp. is also counting its money from Alvin and the Chipmunks: The Squeakquel, which is ranked in third place at the time of this writing; its total gross now stands at roughly $178 million. Coming in second is Time Warner's (TWX) Sherlock Holmes action adventure. It's possible Holmes and Squeakquel could change places once final numbers are released, since both are credited with similar weekend amounts. Nevertheless, Holmes has now raked in about $165 million.

IMAX Corporation (IMAX) is doing pretty darn good in today's session. At the time of this writing, shares were up over 8% to $14.43, good for a new 52-week high. Headlines on Tuesday proclaimed the intention of Discovery Communications Inc. (DISCA), Sony Corporation (SNE), and IMAX to join forces for purposes of launching a 3-D television asset. I'm sure that must have intrigued not a few in the market.

In addition to that, though, I think there is a general bullish feeling forming on IMAX. I was surprised to read over at Benzinga.com that CNBC's Fast Money analyst Guy Adami highlighted the company as a potential pick for the entire decade! Now that's bullish.