Analyst Actions: Cypress Semiconductor, US Airways, Anaren, Resort Stocks

Upgrades

Cypress Semiconductor(CY Quote): fiscal 2000 EPS estimates UP to $2.29 a share from $2.25 a share at Merrill Lynch; fiscal 2001 EPS estimates UP to $2.90 a share from $2.80.

MGIC(MTG Quote): ADDED to recommended-for-purchase list at Goldman Sachs.

PMI(PMI Quote): ADDED to recommended-for-purchase list at Goldman Sachs.

TMP Worldwide(TMPW Quote): UP to strong buy from buy at Banc of America.

United Parcel Service(UPS Quote): UP to strong buy from outperform at Morgan Stanley Dean Witter.

Downgrades

Airtran Holdings(AAI Quote): third-quarter EPS DOWN to 13 cents from 18 cents at Donaldson Lufkin & Jenrette; fourth-quarter EPS DOWN to 12 cents from 16 cents.

Clearnet(CLNT Quote): CUT to market performer; OFF of recommended for purchase list at Goldman Sachs.

Leggett & Platt(LEG Quote): third-quarter estimates DOWN to 35 cents from 41 cents at DLJ; fiscal 2000 EPS DOWN to $1.60 a share from $1.80.

US Airways(U Quote): DOWN to market underperformer from performer at Goldman Sachs; fiscal 2000 EPS DOWN to a 30-cent loss from a 10-cent loss.

Initiations

Anaren(ANEN Quote): NEW outperform at Morgan Stanley.

Radian Group(RDN Quote): NEW outperform at Goldman Sachs.

Viasource Communications(VVVV Quote): NEW buy at DLJ; price target $22.

WJ Communications(WJCI Quote): NEW buy at CIBC WorldMarkets.

Group Moves

Merrill Lynch rolled out coverage on two Web telephone service providers:

• AudioCodes(AUDC Quote): NEW intermediate-term buy; price target $162.

• DSP Group(DSPG Quote): NEW intermediate buy; price target $65.

Deutsche Banc Alex. Brown rolled out coverage of resort stocks:

• Harrah's Entertainment(HET Quote): NEW market perform.

• Station Casinos(STN Quote): NEW buy.

• Isle of Capri(ISLE Quote): NEW buy.

• Mandalay Resort(MBG Quote): NEW buy.

• MGM Mirage(MGG Quote): NEW buy.

• Park Place Entertainment(PPE Quote): NEW strong buy

Morgan Stanley Dean Witter rolled out coverage of wireless network makers:

• Glenayre Technologies(GEMS Quote): NEW outperform.

• DMC Stratex(STXN Quote): NEW outperform.

Goldman Sachs rolled out coverage on credit stocks:

Fannie Mae(FNM Quote): NEW outperform.

Freddie Mac(FRE Quote): NEW outperform.

• Countrywide Credit(CCR Quote): NEW outperform.

• Charter One Financial(CF Quote): NEW outperform.