Amazon.com

(AMZN) - Get Amazon.com, Inc. Report

posted a fourth-quarter

loss that beat estimates, but also revised downward its revenue-growth guidance. Analysts didn't like the news, punishing the stock with downgrades and negative notes.

W.R. Hambrecht

took the stock down to neutral from buy and cut 2001 revenue estimates to $3.4 billion from $4.1 billion.

Credit Suisse First Boston

cut the stock's 12-month price target to $30 from $45 and increased its first-quarter loss view to 30 cents a share from 20 cents.

Merrill Lynch

upped Amazon's 2001 loss view to 87 cents a share from 69 cents.

Upgrades

Abgenix

(ABGX)

: 2001 EPS view UP to break-even from a loss of 63 cents at

Goldman Sachs

.

Valero

(VLO) - Get Valero Energy Corporation Report

: UP to strong buy from accumulate at

Prudential Securities

.

Downgrades

Applied Materials

(AMAT) - Get Applied Materials, Inc. Report

: 2001 EPS view DOWN to $2.50 from $3.10 at

Lehman Brothers

. Goldman 2001 EPS view DOWN to $1.70 from $2.67 and 2002 EPS view DOWN to $2.25 from $3.46.

CenturyTel

(CTL) - Get CenturyLink, Inc. Report

: 2001 EPS view DOWN to $1.65 from $1.90 at Goldman.

Cymer

(CYMI)

: DOWN to outperform from strong buy at

Morgan Stanley Dean Witter

.

DiamondCluster

(DTPI)

TheStreet Recommends

: DOWN to market perform from buy at Lehman, and price target DOWN to $35 from $50.

Digital Impact

(DIGI)

: DOWN to buy from strong buy at CSFB; and 12-month price target DOWN to $12 from $30.

Mastec

(MTZ) - Get MasTec, Inc. Report

: DOWN to outperform from strong buy at Morgan Stanley.

McLeodUSA

(MCLD)

: DOWN to outperform from strong buy at Morgan Stanley.

Quanta Services

(PWR) - Get Quanta Services, Inc. Report

: DOWN to outperform from strong buy at Morgan Stanley.

PeopleSoft

(PSFT)

: DOWN to neutral from outperform at Morgan Stanley.

Steel Dynamics

(STLD) - Get Steel Dynamics, Inc. Report

: DOWN to outperform from strong buy at Morgan Stanley.

Initiations

D.R. Horton

(DHI) - Get D.R. Horton, Inc. Report

: NEW market outperform at Goldman Sachs.

Micromuse

(MUSE)

: NEW buy at W.R. Hambrecht; price target: $90.

Professional Detailing

(PDII)

: NEW buy at W.R. Hambrecht; price target: $120.

Transmeta

(TMTA)

: NEW long-term and intermediate buy at Merrill.

Ventiv Health

(VTIV)

: NEW strong buy at W.R. Hambrecht; price target: $25.

Group Moves

Prudential upgraded major oil stocks: