UBS Warburg

removed

Nokia

(NOK) - Get Report

from its list of top 10 global technology stock picks this morning, causing a massive decline in the stock in Europe, and a drop in the stock in preopen trading on

Instinet

.

Shares of the Finnish mobile phone giant touched a two-year low on the European market after the move by UBS analyst Pip Coburn. No further details of Coburn's downgrade were immediately available.

Upgrades

Commerce Bancorp

(CBH) - Get Report

: price target UP to $80 from $70 at

Lehman Brothers

.

Onis

(ONIS)

: Sales estimates UP to $217 million from $180 million in 2001; $360 million from $330 million in 2002 at

Credit Suisse First Boston

.

Goldman Sachs

upgraded

Lowe's

(LOW) - Get Report

after the home improvement retailer said it would meet fourth quarter estimates this morning. The stock was added to the recommended list from a previous market outperformer rating.

Downgrades

Taking a stick to this company, Lehman Brothers downgraded

Metricom

(MCOM)

: to market perform from strong buy. The price target was dropped to $8 from $100 after the company held a poor earnings call yesterday. Lehman, in a comment, wrote, "Metricom missed all major metrics in our model." W.R. Hambrecht was no more kind, downgrading the company to neutral from buy.

Broadcom

(BRCM)

: 2001 fiscal EPS DOWN to $1.35 from $1.55 at

W.R. Hambrecht

.

Clorox

(CLX) - Get Report

: EPS estimates DOWN to 41 cents from 45 cents for the third quarter; to $1.70 from $1.75 for fiscal 2001.

Mohawk Industries

(MHK) - Get Report

:DOWN to hold from buy at CSFB; 2001 estimates down to $2.75 from $3.30.

Power-One

(PWER)

:DOWN to market outperformer from trading buy at Goldman Sachs; lowered 2001 earnings-per-share estimates to $1 from $1.35 and 2002 earnings per share estimate to $1.50 from $1.90.

Initiations

Sirius Satellite Radio

(SIRI) - Get Report

: NEW market outperformer at Goldman Sachs.