Last week,

Veeco

(VECO) - Get Report

said it would

miss third-quarter earnings and announced that its president and chief operating officer, Christine Whitman, resigned to pursue other interests. Today,

Credit Suisse First Boston

cut the company's EPS view. The firm slashed Veeco's 2000 EPS view to 83 cents a share from $1.36 and its 2001 EPS view to $2.30 a share from $2.75.

Upgrades

Electronic Data Systems

(EDS)

: UP to long-term buy from hold at CSFB. The firm also upped EDS' fourth-quarter earnings estimate to 67 cents a share from 66 cents and its 2001 earnings estimate to $2.55 a share from $2.45 after the company

won a computer services contract with the Navy worth up to $9 billion. Also,

Merrill Lynch

raised the company's rating to a buy from accumulate.

Downgrades

Connetics

TheStreet Recommends

(CNCT)

: DOWN to hold from buy at

UBS Warburg

; DOWN to neutral from outperform at

Lehman Brothers

and 12-month price target DOWN to $14 from $48.

General Motors

(GM) - Get Report

: price target DOWN to $80 from $89 at

Deutsche Banc Alex. Brown

.

Group Moves

Merrill started coverage on two

Nasdaq

-listed Chinese Internet portals with ratings of intermediate-term accumulate.