As we head towards 2010, we invited ten top Seeking Alpha contributors, most of whom are professional money managers, to share their thoughts and predictions for the new year.

Click through below to learn how they are now adjusting client and personal portfolios; are they protecting 2009's gains, or preparing to be more aggressive? What stocks, ETFs and other instruments do they think will perform best in 2010?

More Gains on Tap at Tetra Tech by Christopher C. Williams

Summary: Engineering and consulting firm Tetra Tech (TTEK) gets 85% of its revenue from water services, such as cleaning up polluted rivers and building dams. Last Tuesday shares hit a 52-week high of $21.78, giving them a current P/E of 33x earnings. Thanks to a constant flow of new contracts, solid quarterly results and investors' appetite for water stocks, the stock could climb much higher -- into the mid 20s within the year. Analysts are poised to raise yearly estimates when Tetra reports results for the quarter ended March 31 this Wednesday. Estimates on the Street are at 18 cents a share, up from last year's 14. The company is not stopping at water, and is making purchases in the mining, alternative energy and automotive sectors, as it hopes to lift the high-end of its guidance for the year, from $0.76/share to $0.80. "Tetra Tech is building momentum, and the level of investor enthusiasm will likely build as the year progresses," predicts Debra Coy of Janney Montgomery Scott.

CEO's Ouster Threatens Siemens' Turnaround by Matthew Curtin and Joon Knapen

Summary: Heinrich von Pierer recently stepped down as Chairman of electricity and electronics giant Siemens (SI) amid a corruption scandal that erupted during his reign. Now the man who replaced him and turned the company around, Klaus Kleinfeld, is leaving too. Although he's untouched by the scandal, which has prompted both an internal probe and formal inquiries by the SEC and the Justice Department, the board will not renew his contract -- a last ditch attempt at salvaging its reputation. Union pressures are also at work against a CEO who believed in job-cutting and return-improving measures. Shares have risen about 45% in Kleinfeld's 2-year reign, and the company released better-than-expected earnings last week. With no replacement lined up, ousting the present CEO may prove to have been a hasty decision. Barron's says Siemens "needs less of a new strategic vision and more of a nitty-gritty determination to get its parts to work more efficiently through better cost-control and working-capital management," which may prove difficult if Kleinfeld's departure signals workers have gained the upper hand.

Domino's Pizza by Kopin Tan

Summary: Domino's Pizza's (DPZ) shares are up 54% in the last 9 months, and the company is sharing the pie with investors, paying out a $13.50 dividend per share and planning a $200 million stock buyback. Financing these moves is a $1.85 billion recapitalization, adding more debt to the chain's balance sheet. Taking advantage of cheap debt could be a risky move for the company, whose same-store sales in 2006 declined for the first time in over 10 years. Projections that wheat and corn prices, two main pizza ingredients, will climb due to low inventories and high demand will further threaten Domino's margins. Last week, Bear Stearns analyst Joseph Buckley downgraded the stock, noting that the company's debt load will be 7x 2007 EBITDA of about $261 million. The stock buyback may give shares a short term boost but all the good news may already be priced into the stock, making any further upside seem beyond the horizon.
Related: Domino's Sets Special Dividend of $13.50/shr (Reuters) • Analysts Missed the Boat With Domino's Pizza

Chomping Its Way to Paydirt by Vito J. Racanelli

Summary: Joy Global (JOYG) is the world's largest manufacturer of mining equipment. Increasing global need for such commodities as coal and copper has created a strong demand for its services, yet shares are down from a high around $72 in April to about $47. In its fiscal Q1 results in January, the company reported a 22% drop in underground mining equipment sales, and the stock sank accordingly. Around 45% of Joy Global's revenue comes from U.S. coal miners, who have suffered from large inventories due to the winter's unseasonably warm weather. U.S. electricity demand, half of it supplied by coal-fired generators, was little changed in '06. But coal inventories are declining, and coal miner stocks are reacting positively. And Joy Global doesn't rely on just coal: it also produces machinery for the extraction of gold, copper, and oil sands. The overseas market, responsible for 50% of the firm's sales, is regarded as a long-term source of growth. China, for example, is expected to have a 50% increase in power demand by 2010. With about a 60% market share and relatively low debt, the stock's currently low valuation is attracting large institutional investors. Bottom Line: "The stock could recover by 30% or more."

MarineMax by Kopin Tan

Summary: One frontier suffering reverberations of the housing market slump is offshore: the boating industry. Last Thursday, boat retailer MarineMax (HZO) reported a 20% drop in first quarter sales and issued yet another warning about 2007 profits, indicating that the worst isn't over for the sailing sector. Declining real estate prices, which reduce the cash people have available to buy boats, have been blamed. Shares of leisure-boat maker Brunswick (BC) dropped 4% on the news. Rochdale Securities' analyst Hayley Wolff says the company may not be able to cut production fast enough to avoid excess inventory, and resultant price discounting may lead to further pressures on Brunswick's margins. She also notes that small-boat buyers are likely to be among the hardest hit by post-adjusted interest rates and rising fuel costs. Barron's says analysts' hopes that earnings, currently at $1.80/share, have bottomed and will soon return to $2.15, are unrealistic. Until housing begins to show signs of strengthening, boat makers and sellers may stay seasick for the duration.

Turning Tennis White Into Green by Richard Phalon

Summary: Sneaker maker K-Swiss (KSWS) realizes that it must run with the times or be left behind. Its all-white tennis shoe, a classic since 1966 and its best selling product, is being outdone by snazzier, more modern brands. Late February the company reported an 18% drop in last year's Q4 domestic sales and the stock fell to its current $27, down over 25% from its 52-week high in October. It's now trading at 13.8x estimated earnings for 2007. CEO Steven Nichols is determined to create a turnaround by sharpening design, widening product development and going deeper into the sports arena. Bulls believe these moves could push the stock to $32 and that selling has been overdone. $115 million in new buys by some of the Street's best bargain hunters, including Third Avenue Management, reflect a conviction that the stock is probably in better shape than it looks.

The Purest Play in Network Security by Mark Veverka

Summary: The top player in the enterprise firewall market, Secure Computing (SCUR) has good reason to feel secure. With about a 17% share in this segment of the rapidly growing world of network security, the company is seen as a good buy these days. Rivals of all sizes cater to mostly consumer security needs, while Secure serves huge corporate and government clients. Following stellar fourth quarter earnings, shares topped $9 in February, settling back to $8 last week, in reaction to a Sell rating from Goldman Sachs for a seemingly high valuation. Joel Fishbein, Lazard Capital Markets software analyst, is among those who see this as an opportunity. He estimates the company could earn 53 cents a share in 2008, well above the 44 cent consensus estimate. Tireless efforts by hackers are predicted to cause companies to more than double the current 3% to 7% of their IT budget on fending off attacks. Secure Computing provides the solutions; its main firewall product has never been breached, and CEO John McNulty ensures a constant flow of innovative security solutions. The company offers means to not only protect a network itself, but data within the network as well, an appealing feature to huge corporate clients. With over 19,000 customers, bulls think the company can build a durable business that can survive consolidation moves in a fast-growing market.
Related Links: Secure Computing: Weak Government Spending Could Hamper Results • Secure Computing Shares Slide • Secure Computing CEO Buying Stock

Why HP Has Unseated Dell by Mark Veverka

Summary: In less than two years, Executive Vice President of Personal Systems Group Todd Bradley has turned Hewlett-Packard (HPQ) into the top PC maker in the world. A unit that once dragged earnings down, the company's PC division now accounts for about one third of total revenues. Cost cutting and higher quality production are responsible for improved PC margins, which climbed from break-even in FY 2003 to almost 4% in FY 2006. Strong overseas sales account for much of HP's revenue growth, as demand for pricey notebook computers is strong in such countries as India, where HP is the top selling brand. Within the U.S., HP maintains a larger slice of the consumer market than competitors, including Dell (DELL), which only operates domestically. HP's distribution method of selling from third party stores, once considered a cost disadvantage, has proven wise in the sale of notebook computers, as consumers want to get a first hand feel of the hardware they're buying.
Related Links: Forecasting the PC Market's Future: The Rise of HP, The Fall of Dell • Dell #1 PC Seller for 2006 • Dell Losing Market Share, Hewlett-Packard Maintaining

Deeply in the Black by Christopher C. Williams

Summary: Production problems caused a tumble in the shares of small coal producer Walter (WLT), falling 30% since last April to a recent $25. Those problems have since been fixed, and the company is expected to produce up to seven million tons of coal in 2007, lifting profits to $3.06 a share. Strong demand for Walter's main product, metallurgical coal, which sells for twice the price of regular coal, has analysts suggesting that earnings could rise 15% in the next five years. The company is meeting the demand with expanded capacity and has up to 20 years of reserves of the pricey product. Bulls also believe that a spinoff of Walter's home building and financing operations, profitable though they are, could help the company realize even greater value. Bottom Line: "The company's assets could be worth as much as 38 a share, 52% above its current stock price."
Related Links: Why I'm Not Dipping Into Walter Industries • Why I Bought Walter Industries

Small-Cap With Big Promise by Mark Veverka

Summary: It's not easy competing with such high-end video conferencing giants as Cisco (CSCO) and Hewlett-Packard (HPQ), but start-up Telanetix (TNXI.OB) is doing just that, and succeeding. In January, the small cap outfit beat them all to a major contract from Mercedes-Benz USA. Telanetix produces software that can run on its competitors' hardware, providing full-size, high resolution images, audio and data on flat-panel screens. Last week, it enticed large corporations to lease systems at a low $1,000 per month. Analyst Joe Noel of Dutton Associates believes that this attractive offer could mean many more big contract wins and possibly a bid for the company by Cisco or HP. He predicts annual earnings of $0.18 a share and sets a price target of $5; shares were trading around $3.95 late Friday. Bottom Line: Even in the absence of a takeover offer, "this small-cap could get big in a hurry."

A New Day at RadioShack by Lawrence C. Strauss

Summary: Last month, consumer electronics retailer RadioShack (RSH) CEO Julian C. Day told analysts, "It is all about having the right product in the right stores at the right price." It seems following his own advice has been wise; fourth quarter earnings were up more than 60% from the previous year, and shares were recently at $26.94, up 61%. In his 8 months on the job, Day has applied aggressive cost-cutting and financial controls to turn the company around. Last year over 500 stores were closed, 514 jobs were eliminated, ad spending was slashed and inventory was tightly reduced. The resulting cash balance, $472 million at the end of 2006, provides a safety cushion in case the economy slows and the ability to invest as needed. Bulls contend that there is plenty more to cut. Bears are weary of competition, as high profit cell phone sales are already in decline at RadioShack, with carriers such as AT&T (T) opening their own stores. They believe the stock is vulnerable at its current 23.2x the 2008 estimate. Management is staying on the ball by ensuring the right mix of gadgetry on the shelves, from iPods to flat-screen TVs, and retains a clear advantage in number of stores, with about 4,470 compared, for example, with Circuit City's (CC) 659. RSH shares are already up over 60% this year. But Barron's says they "could rise 30% or more in the next 12-18 months if new chief Julian Day hammers costs further and gets the product mix right."

Big Wheels Keep On Turning by Christopher C. Williams

Summary: Ryder System (R), known for its yellow rental trucks, has become less of a household name ever since it switched to commercial customers over a decade ago. The truck-leasing and logistics company, a leader in the $295 billion supply-chain logistics market, opted for a more predictable business, one which generated $6 billion in revenue last year. It expects this number to grow by about 7% a year, and for earnings per share to grow by 10% to 15%. These figures should help investors regain confidence, as concerns over a slow economy have brought the shares down to around $49, after having reached $59 last June. The shares are now trading at an inexpensive 10x estimated earnings for 2008, at $4.81. Management has consolidated operations and practiced pricing discipline such that the company should do well as the freight business stabilizes, and as long-term lease contracts signed last year bring in revenue. CEO Greg Swienton explains, "Ninety percent of our business is contractual and therefore less susceptible to the economy. Large investors get it, but individual investors might not."

Profiting From the Pursuit of Power by Jack Willoughby

Summary: America's largest supplier of power can't churn it out fast enough. The nation's ever rising demand for electricity is turning Constellation Energy (CEG) into a rising star, with its current share price of $80 having doubled in the past three years. Some analysts foresee 20% or more upside for the shares in coming months, trading now at 18x 2007 earnings estimates. The company produces some of its product and purchases the rest from utilities, giving it a well-rounded knowledge of the industry, and the ability to offer large-scale customers lower prices than its competitors. According to CEO M. A. Shattuck III, "We're particularly able to leverage our business model during times when power gets constrained." Considering all signs of the times, Constellation is in a stellar position.
Related: Constellation Energy IPO: An E&P Offering That Works

At Middle-Age, Tech Giants Strive for Consistency by Mark Veverka

Summary: Slowly and steadily, the big cap technology companies are taking their seats in the arena of traditional industrial stocks, renowned for their predictability and stability. Such giants as Cisco (CSCO), Microsoft (MSFT), and Hewlett-Packard (HPQ) can get more comfortable with their girth, saving a special place for Apple (AAPL) too. HP has earned its place among the big boys thanks to sound performance in almost all its divisions, constantly sharpening operations for top-notch efficiency. The company's goal of 4-6% revenue growth may be met if sales continue to be very strong, but obstacles include a disappointing high-end server business, competition from Dell (DELL), and inventory glitches. Cisco has cause to boast: Diversification into home networking and video set-top boxes is starting to prove itself; the network switch and router business is poised for double-digit, long-term growth; and video-over-internet should drive consistent demand for networking backbone. Apple is pumping the June release of the iPhone as the next big wave, following the success of the Mac and the iPod. Macintosh sales continue to grow, while the road from iPod to iPhone could be a somewhat bumpy one. As for Microsoft, although Vista hasn't been snatched up as previously anticipated, analysts expect a pick up later in the year and remain optimistic. Bottom Line: "Investors should realize that big-tech now offers predictability in their portfolios. Goldman likes HP, Cisco and Apple."
Related: Apple: Mac Sales Accelerated in January • How Apple’s iPhone Could Flop • H-P's Earnings Beat Estimates But Concerns Remain • Hewlett-Packard: Back in the Game • Is Cisco Slowing Down? • Windows Vista: Not Exactly Selling Like Hotcakes at Amazon

Engines Revved by Christopher C. Williams

Summary: Advance Auto Parts (AAP) sells everything from windshield wipers to car batteries out of its 3,082 stores in 40 states, and is no. 2 in the $204 billion market behind Autozone (AZO). Other close competitors are O'Reilly Automotive (ORLY) and CSK Auto (CAO), vying for the purchases of mainly do-it yourselfers and commercial customers such as mechanics. The whole industry took a hit as gas prices and interest rates rose in 2006, causing car owners to delay any non-imperative repairs. Shares of Advance Auto fell a comparatively high 13% from $44 in March, due to its heavy investment in stores. Following a previous five-year track record of double digit profit gains, the retailer plans to return share prices from its present $37 to the mid-40s by reducing the number of store openings and remodelings. As the average age of vehicles on the road approaches 10 years, wear and tear should bring in customers industry-wide, as the market increases 4-5% a year. At a current 15 times earnings estimates for 2007, the company's earnings are expected to rebound 11% in the year, and long term prospects are likely to grow by low-to-mid double digits. Should management fail, there's still hope for shareholders. According to Citigroup analyst Bill Sims, ".. there is a 25% chance Advance becomes a target for private-equity buyers, given its steady cash flow, relatively low debt levels and attractive valuation." Start your engines.
Related: Advance Auto Parts Needs To Take a Page From O'Reilly's Book • Advance Auto Parts Analyst Day Celebrates 5 Years As a Public Company - What Next? • Auto Parts Suppliers: Valuation Check Shows O'Reilly Is Attractive

Burger Heaven: Eating Applebee's Lunch by Richard Phalon

Summary: Anyone who thought burger joints wouldn't hold up to America's health-conscientiousness will have to think again. Leader of the pack McDonald's (MCD) is up nearly 25% in recent years, but the burger sector is at a possible top after such strong players as Jack in the Box (JBX) climbed 67% in the past 12 months. These numbers have come at the expense of the next rung up in the food chain - the casual dining outfits, which have only barely climbed or have even declined. Shares of Applebee's (APPB), for example, have risen only 5% in close to a year, and the pressure is on for it to make changes, or even sell itself. The reason for this consumer preference is twofold. First, middle-income Americans, hit with weak home prices and spending top dollar for gas and interest rates, would just as soon save a few bucks on lunch. Second, the more nutritious options that the fast food chains have introduced have made their spoons less greasy, and have proven to be healthy for their business as well. Shares could easily rise another 10% thanks to expanded breakfast offerings.

As Scandal Swirls, Siemens Stock Stays Hot by George Frey

Summary: Siemens' (SI) restructuring has been a success story: CEO Klaus Kleinfeld, who took the reins two years ago, has made the global industrial powerhouse more efficient. Kleinfeld has steered the giant, that makes everything from trains to light bulbs, in new growth directions including energy and environmental care, public and industrial infrastructure, and health care. Its focus on emerging markets and an aging population have involved such moves as the acquisition of Bayer's (BAY) diagnostic health-care business and a merger of Siemens' wireless network business with Nokia (NOK). The results show: Shares are up more than 25% since October, and all of the company's 12 divisions were in the black in FQ1 2007 for the first time in six years. Operating profits were up 51% from the previous year, and net rose 35% for all of fiscal 2006. One looming question remains: Suspicions that over the years Siemens has been bribing its way into contracts worldwide, to the tune of about $500 million, could prove to be a formidable challenge. The company has promised to provide controls to ensure ethical behavior going forward. Barron's Bottom Line: "With profits and revenue up, Siemens' stock should climb at least 10% this year. But all bets are off if the scandal reaches Kleinfeld, the architect of the company's revival."

Here's the Remote by Neil A. Martin

Summary: Shares of Universal Electronics (UEIC), a wireless technology developer that makes remote controls for just about everything and everyone in the home entertainment world, are up more than 50% in the past year. The latest lift came Thursday as sales ($236 million) and earnings ($1.06 a share) considerably topped Street estimates. While some investors question how much higher it can go, there seems to be no reason for it to pause. It holds 168 remote-related patents, more than 75% of its revenue comes from technology licensing to such electronic giants as Sony (SNE) and Motorola (MOT), and it commands 75% of remote controls sold to U.S. cable companies such as Comcast (CMCSA). Satellite-TV companies, including DirecTV (DTV), also buy their remotes from Universal, and its low end remotes are sold at mass outlets like Wal-Mart (WMT). Forecasts for increased sales of flat-panel TVs and subscriptions to DVR services such as TiVO (TIVO) leave Universal with lots of room to grow, as consumers still want control of their fun.

The Nordic economies' only sin is that they are small. Taken together, they make up only 24 million people -- about two thirds the size of California. Yet, with a combined GDP of over $1 trillion, they punch far above their demographic weight. India has 50x the Nordics population, yet its economy is 30% smaller.