Donaldson, Lufkin & Jenrette

cut its fiscal 2001 earnings estimates on

America Online

(AOL)

to 61 cents a share from 71 cents a share, after AOL reported fiscal fourth-quarter 2000 earnings of 13 cents a share last night. But DLJ's estimates are on the high side: The current 2001 consensus is 55 cents, according to

First Call/Thomson Financial

.

Merrill Lynch

responded by raising its fiscal 2001 estimates to 58 cents per share from 53 cents per share.

DLJ maintained its price target of 120 a share, and a number of other analysts reiterated strong recommendations on the Internet company.

DLJ raised its price target on

Sun Microsystems

(SUNW) - Get Report

to 120 from 100 after the company's quarterly earnings call last night.

Ventro

(VNTR) - Get Report

was cut by several analysts after its earnings report yesterday. The B2B company has been downgraded to hold from buy at

Credit Suisse First Boston

, and down to buy from strong buy at

Deutsche Banc Alex. Brown

.

Upgrades

Level 3 Communications

(LVLT)

: UP to buy from long-term buy at

J.P. Morgan

.

Precision Castparts

(PCP)

: UP to buy from hold at Credit Suisse First Boston; 2001 earnings per share estimate raised to $4.70 from $4.25; 2002 estimates raised to $5.40 from $4.90.

Host Marriot

(HMT)

: UP to accumulate from buy at Merrill Lynch; price target: 12.

Smith International

(SII)

: UP to short-term buy from short-term accumulate at Merrill Lynch.

Disney

(DIS) - Get Report

: Merrill Lynch raised Q4 earnings per share estimates to 19 cents from 16 cents, and increased 2000 estimates to 86 cents from 83 cents.

THQ

(THQI)

: UP to buy from market performer at

Banc of America Securities

.

Station Casinos

(STN) - Get Report

: UP to buy from outperform at

Lehman Brothers

.

Apache

(APA) - Get Report

: UP to buy from outperform at Deutsche Banc Alex. Brown.

Bank of New York

(BK) - Get Report

: UP to buy from hold at Credit Suisse First Boston.

Mellon Financial

(MEL)

: UP to buy from hold at Credit Suisse First Boston.

Downgrades

Xilinx

(XLNX) - Get Report

: DOWN to buy from strong buy at

WR Hambrecht

after the company reported earnings of 27 cents a share for the second quarter, ahead of the 25-cent consensus. WR Hambrecht raised earnings estimates on Xilinx, despite downgrading the stock.

Gillette

(G) - Get Report

: DOWN to buy from strong buy at Deutsche Banc Alex. Brown after the company's earnings report yesterday.

Salomon Smith Barney

lowered its price target on the company to $45 from $50.

Northwest Airlines

(NWAC)

: DOWN to buy from strong buy at Deutsche Banc Alex. Brown.

Cooper Tire and Rubber

(CTB) - Get Report

: DOWN to market perform from buy at Deutsche Banc Alex. Brown.

Complete Business Solutions

(CBSI)

: DOWN to hold from buy at Credit Suisse First Boston.

Gentex

(GNTX) - Get Report

: DOWN to buy from strong buy at Credit Suisse First Boston.

Burlington Resources

(BR) - Get Report

: DOWN to buy from strong buy at Deutsche Banc Alex. Brown.

Mexican industrial conglomerate

Grupo Imsa

(IMY)

: DOWN to outperform from strong buy ahead of valuations at

Morgan Stanley Dean Witter

.

Sprint PCS

(PCS)

: DOWN to hold from outperform at

ABN Amro

.

Group Moves

Credit Suisse First Boston initiated coverage on a number of advertising/communications companies: