CHANGE IN RATINGS

Bank of New York

upgraded at Morgan Stanley: Morgan Stanley said it is increasing its rating on BK to Overweight from Equalweight. Market reaction to swap of retail bank for JPM's corporate trust business was too negative.

Commerce Bancorp

upgraded at Oppenheimer: CBH was upgraded from Sell to Neutral, Oppenheimer said. Consensus earnings estimates have come down to more realistic levels, and the net interest margin should stabilize.

Commerce Bancorp

upgraded at Friedman, Billings: CBH was upgraded to Outperform, Friedman, Billings Ramsey said. Stock reacted negatively to a strong earnings report. New $44 price target.

MarketAxess

downgraded at Bear: MKTX was downgraded from Outperform to Peer Perform, Bear Stearns said. Estimates also lowered, as the company is increasing spending but continues to operate in a challenging environment.

Mills

downgraded at Morgan Stanley: Morgan Stanley said it is lowering its rating on MLS to Underweight from Equalweight. Target cut to $25 a share.

Tivo

upgraded at Friedman, Billings: TIVO was upgraded from Underperform to Market Perform, Friedman, Billings Ramsey said. $6 price target. DTV extension removes a key, negative catalyst.

WGL Holdings

upgraded at UBS: UBS said it is upgrading WGL to Neutral from Reduce based on valuation. Maintained $28 target price.

STOCK COMMENTS / EPS CHANGES

Advanced Micro Devices

estimates raised at Prudential: Prudential said it is raising its 2006 estimates on AMD by 53 cents to $1.95 a share. Maintained Overweight rating.

Advanced Micro Devices

estimates raised at Jefferies: Jefferies said it was raising FY 2006 EPS estimates on AMD from $1.48 to $1.60 following quarterly results. Maintained Hold rating and $37 target.

Advanced Micro Devices

outlook raised at UBS: UBS said it is raising its 2007 EPS estimates on AMD to $1.89 from $1.79 citing better than expected margins for the quarter. Raised target price to $42 from $39.

Advanced Micro Devices

estimates raised at Goldman: Goldman said it is increasing its estimates on AMD to $1.55 a share from $1.35 a share. Second quarter revenue guidance light.

Advanced Micro Devices

estimates raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on AMD for the full year to $1.73 a share from $1.56 a share. Maintained Overweight rating.

Circuit City

target price raised at UBS: UBS said it is raising its target price on CC to $29 from $25. Sees further upside in 2006 following solid 4Q results. Maintained Outperform rating.

Circuit City

target, estimates raised at Jefferies: Jefferies said it was raising FY 2006 EPS estimates on CC from $0.95 to $1.08 and the target from $22.75 to $26.50 on strong fiscal Q4 results. Maintained Hold rating.

Circuit City

estimates raised at Goldman: Goldman said it is increasing its estimates on CC for 2006 to $1.15 from $1.12 a share. Maintained Inline rating.

Cisco

outlook raised at UBS: UBS said it is raising its 2007 EPS estimates on CSCO by 3 cents to $1.08 based on enterprise demand. Raised target price to $23 from $21.50.

Forest Oil

estimates raised at Goldman: Goldman said it is lowering its estimates on FST for the full year to $3.15 a share from $3.34 a share. Maintained Inline rating.

Gannett

estimates lowered at UBS: UBS said it is lowering its 2007 EPS estimates on GCI by 15 cents to $4.90 after inline 1Q results. Lowered target price to $63 from $65.

Goldcorp

estimates raised at Prudential: Prudential said it is raising its 2006 estimates on GG by 18 cents to 95 cents a share due to higher gold price forecast. Maintained Underweight rating.

Emdeon

estimates raised at Goldman: Goldman said it is increasing its estimates on HLTH for the full year to 71 cents a share from 58 cents a share. Maintained Inline rating.

Henry Schein

estimates raised at Goldman: Goldman said it is increasing its estimates on HSIC for the full year to $2.11 a share from $2.10 a share. No reason cited in the morning call or corresponding research note.

Intel

estimates cut at Prudential: Prudential said it is cutting its 2006 estimates on INTC by 10 cents to 76 cents a share on expected unit and pricing weakness, and market share losses to AMD at high-end. Maintained Underweight rating, target price is $15.

LAM Research

estimates raised at UBS: UBS said it is raising its 2007 EPS estimates on LRCX to $2.74 from $2.57 citing benefits from NAND flash. Maintained $50 target price.

Motorola

estimates raised at UBS: UBS said it is raising its 2007 EPS estimates on MOT by 3 cents to $1.49 citing first quarter upside from handset strength. Maintained Outperform rating.

OSI Pharma

outlook cut at Morgan Stanley: Morgan Stanley said it is lowering its estimates on OSIP to $1.55 in 2007 from $1.74.

Progressive

estimates raised at Morgan Stanley: Morgan Stanley said it is raising its estimates on PGR to $7.01 a share from $6.75 a share. Maintained Equalweight rating.

St. Paul Travelers

estimates raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on STA for the full year to $5.05 a share from $4.95 a share. Maintained Equalweight rating.