J.P. Morgan downgraded its rating on Allstate (ALL) - Get Report to market perform from long-term buy. It also lowered its 2000 earnings estimate for the company to $2.55 from $2.80 per share.

The firm also downgraded

UNUMProvident

(UNM) - Get Report

to market perform from buy.

Donaldson Lufkin & Jenrette

also downgraded the stock to buy from top pick and

Morgan Stanley Dean Witter

axed UNUMProvident's rating to outperform from strong buy.

Credit Suisse First Boston

upgraded

C.H. Robinson

(CHRW) - Get Report

to strong buy from buy and set a low-60's price target.

ING Barings

launched coverage of

Activision

(ATVI) - Get Report

,

Electronic Arts

(ERTS)

,

Midway Games

(MWY)

,

Take-Two

(TTWO) - Get Report

and

THQ

(THQI)

as buys.

Merrill Lynch

upgraded

Parker Hannifin

(PH) - Get Report

to near-term accumulate from neutral.

Warburg Dillon Read

initiated coverage of

Phillips Petroleum

(P)

with a hold rating and a price target of 42. The firm also launched coverage oN

Occidental Petroleum

(OXY) - Get Report

at a buy with a price target of 25.

ING Barings launched coverage of

3DO

(THDO)

at a strong buy with a price target of 18.

Goldman Sachs

upgraded

Temple-Inland

(TIN)

to trading buy from market outperform.

Warburg Dillon Read downgraded

United Payors

(UPUP)

to hold from strong buy on valuation, the firm said.

ING Barings initiated coverage of

Watson Electronics

(WPI)

with an outperform rating.