CHANGE IN RATINGS

AMD

upgraded at Merrill Lynch: Merrill said it is upgrading AMD to Neutral from Sell based on valuation. After falling 40% since February, stock looks fairly valued.

Cincinnati Bell

upgraded at JPMorgan: JPMorgan said it is upgrading CBB to Overweight from Neutral due to recovery in wireless and return to FCF growth. See multiples returning inline with peers, or possible acquisition candidate.

Brinker International

upgraded at Raymond James: Rating on EAT was boosted from Market Perform to Outperform, Raymond James said. Stock has drifted toward an attractive risk/reward level.

Phelps Dodge

upgraded at UBS: UBS said it is upgrading PD to Buy from Neutral based on forecast for higher copper prices and recent share price weakness. Raised target price to $110 from $100.

Qualcomm

downgraded at JPMorgan: JPMorgan said it is downgrading QCOM to Neutral from Overweight due to probability that contract negotiations with Nokia over WCDMA license fail without 3rd party intervention.

Roper

upgraded at Prudential: ROP was upgraded from Neutral to Overweight, Prudential said. $50 price target. Earnings outlook is improving, and the company is likely to announce some accretive acquisitions in the near term.

Syniverse

coverage initiated at Jefferies: Jefferies said it is initiating coverage on SVR with a Hold rating. Says 2006 is a transition year after losing large customers, though new deals with Vodaphone and TeliaSonera should replace lost revenue. Price target set at $15.

Verint Systems

downgraded at Weisel: VRNT was downgraded to Peer Perform from Outperform, Weisel said. Slowing organic growth and decreasing transparency are main factors.

Willis Group

coverage initiated at Morgan Stanley: Morgan Stanley said it is initiating coverage on WSH with an Equalweight rating. Cites some near term risks but also notes some forward potential in the note.

STOCK COMMENTS / EPS CHANGES

CNET

outlook lowered at Goldman: Goldman said it is lowering its estimates on CNET for the full year to 37 cents a share from 38 cents a share.

First Marblehead

estimates raised at UBS: UBS said it is raising its 2007 EPS estimates to $3.75 from $3.70 following three year deal with GE. Maintained Reduce rating.

Gen-Probe

estimates raised at Weisel: Weisel said it is raising its 2006 estimates on GPRO by a penny to $1.33 after the company announced that it will end all ongoing patent infringement disputes with Bayer. Reiterated Outperform rating.

McKesson

outlook raised at Goldman: Goldman said it is increasing its estimates on MCK for the full year to $2.65 a share from $2.60 a share. Maintained Inline rating.

Microsoft

estimates reduced at Goldman: Goldman said it is cutting its estimates on MSFT to $1.26 a share in 2006 from $1.27 a share. Impact from rapid growth of Xbox and likely further delays in Vista cited for impact on its model.

Neurocrine Biosciences

outlook cut at Morgan Stanley:Morgan Stanley said it is lowering its estimates on NBIX for the full year to a loss of $3 a share from a loss of $2.33 a share. Target cut to $9 a share from $16 a share. End of Pfizer partnership cited. Company will be valued on its cash balance and burn.

Oracle

estimates raised at UBS: UBS said it is raising its 2007 EPS estimates by a penny to 92 cents following strong 4Q results. Maintained Buy rating.

Oracle

estimates raised at Weisel: Thomas Weisel said it is raising its 2007 estimates on ORCL to $0.93 from $0.91 based on strong overall growth and strength in applications business. Reiterated Outperform rating.

Oracle

price target raised at Jefferies: Jefferies said it is raising its price target on ORCL by 50 cents to $17.50 after the company posted solid Q4 results. Reiterated Buy rating.

Oracle

outlook raised at Goldman: Goldman said it is raising its estimates on ORCL for the full year to 81 cents a share from 79 cents a share. Maintained Inline rating.

Smithfield Foods

estimates raised at CSFB: CSFB said it is raising its 2007 EPS estimates for SFD to $2.10 from $2.00 to account for recent run-up in hog prices. Maintained Outperform rating.

Sunoco

target price cut at CSFB: CSFB said it is lowering it target price on SUN to $75 from $84 due to continued weakness in company's business environment. Maintained Neutral rating.

Torchmark

target raised at Morgan Stanley: Morgan Stanley said it is increasing its target on TMK to $60 a share from $58 a share. Maintained Equalweight rating.

Viacom

numbers cut at Goldman: Goldman said it is lowering its estimates on VIA.b for the full year to $1.88 a share from $1.90 a share.

Sealy

estimates cut at Goldman: Goldman said it is lowering its estimates on ZZ for the full year to $1.04 a share from $1.10 a share. Assumption of coverage with an unchanged Outperform rating.