Bear Stearns

cut its earnings-per-share outlook on

Gateway

(GTW)

for the first and second quarters. The Bear said it appears Gateway could fall $100 million to $150 million short of the firm's first-quarter revenue estimate. The Bear did maintain its buy rating on the stock.

American Tower

(AMT) - Get Report

: REITERATED buy at

Lehman Brothers

; price target UP to 58.

Applied Materials

(AMAT) - Get Report

: price target UP to 125 from 112 at

Credit Suisse First Boston

.

Applied Micro Circuits

(AMCC)

: UP to buy from accumulate at

Merrill Lynch

; risk rating UP to high from above average.

Bemis

(BMS) - Get Report

: UP to strong buy from buy at

Deutsche Banc Alex. Brown

.

BlackRock

(BLK) - Get Report

: DOWN to intermediate-term accumulate from buy at Merrill.

Cumulus Media

(CMLS) - Get Report

: DOWN to hold from buy at

Salomon Smith Barney

.

Fairchild Semiconductor

(FCS)

: price target UP to 52 from 48 at CSFB.

Hispanic Broadcasting

(HBCCA)

: DOWN to intermediate-term neutral from intermediate-term accumulate at Merrill Lynch based on valuation.

Jabil Circuit

(JBL) - Get Report

: price target UP to 95 from 82 at CSFB. Fiscal 2000 and 2001 earnings estimates UP at

SG Cowen

.

KeySpan Energy

(KSE)

: UP to intermediate-term buy from neutral at Merrill.

On Assignment

(ASGN) - Get Report

: DOWN to hold from buy at CSFB.

Sycamore Networks

(SCMR)

: REINSTATED at buy CSFB; price target SET at 175.

Telescan

(TSCN)

: UP to strong buy from neutral at

First Albany

.