Coca-Cola Enterprises' (CCE) fiscal 2000 earnings estimates were lowered to 50 cents from 68 cents a share at UBS Warburg Dillon Read. Its fiscal 2001 estimate was lowered to 70 cents from 90 cents.

Merrill Lynch

lowered the company's fiscal 2000 estimate to 45-50 cents a share from 68 cents and for fiscal 2001 to 65 cents from 95 cents a share. Merrill also downgraded the company's intermediate-term rating to neutral from buy.

Upgrade

Credence Systems

(CMOS)

: fiscal 2000 estimates UP to $5.05 from $4.25 at

Credit Suisse First Boston

; fiscal 2001 estimates UP to $7.10 from $6.10.

Initiations

Embarcadero Technologies

(EMBT)

: NEW buy at

Donaldson Lufkin & Jenrette

; price target of 40.

Keane

(KEA)

: NEW intermediate accumulate, long-term buy rating at Merrill Lynch.

XL Capital

(XL) - Get Report

: NEW strong buy at

UBS Warburg Dillon Read

; price target of 65.

Group Moves

SG Cowen

upgraded the following biotech stocks:

  • Genzyme Molecular (GZMO) : NEW strong buy ;price target: 25.
  • Genzyme Transgenics (GZTC) : NEW strong buy; price target: 28.
  • Millennium Pharmaceuticals (MLNM) : NEW strong buy.

Lehman Brothers

upgraded the following retail stocks:

  • Dollar General (DG) - Get Report: NEW outperform.
  • Family Dollar (FDO) : NEW outperform.

Chase H&Q

started the following HMOs with strong buy ratings: