CHANGE IN RATINGS

Agere

(AGR) - Get Report

downgraded at CIBC: AGR was downgraded from Outperform to Sector Perform at CIBC. Almost all possible cost cuts have already been made, making the near-term visibility for a turnaround more murky.

Air Products

(APD) - Get Report

downgraded at JP Morgan: APD was downgraded form Overweight to Neutral at JP Morgan. Valuation call, as the company's multiple has caught up to PX.

Clorox

(CLX) - Get Report

upgraded at Merrill: CLX was upgraded to Buy, Merrill Lynch said. $69 price target. Raw materials cost pressure could deteriorate. 2008 estimates also boosted.

Cisco

(CSCO) - Get Report

upgraded at Piper: CSCO was upgraded to Outperform, Piper Jaffray said. $26 price target. Company should benefit from continued network investments for broadband applications.

Darden Restaurants

(DRI) - Get Report

upgraded at Goldman: Goldman said it is upgrading DRI to Neutral from Sell to reflect more favorable outlook for operating fundamentals and resilience in the face of broader economic pressures. Price target raised to $44 from $38.

DirecTV

(DTV)

downgraded at Lehman: DTV was downgraded to Equal-weight at Lehman Brothers. Stock is up 37% on the year, though the fundamental outlook remains positive. $21.50 price target.

Informatica

(INFA)

downgraded at Goldman Sachs: Goldman is downgrading INFA to Sell from Neutral on valuation. Believe share price has outpaced fundamental improvements. Target price at $13.

Masco

(MAS) - Get Report

downgraded at Baird: MAS was downgraded from Outperform to Neutral at Robert Baird. $28 price target. Market is already pricing in a slower home market, and the company should gain share in a deteriorating environment. That said, Masco lacks near-term catalysts.

Masco

(MAS) - Get Report

estimates cut at Morgan Stanley: Morgan Stanley cut its 2006-2007 earnings estimates to reflect the company's recent profit warning. They maintain an equal-weight rating.

Masco

(MAS) - Get Report

estimates lowered at Credit Suisse: Credit Suisse is lowering its 2006 EPS estimates on MAS to $2.30 from $2.48 after company pared back expectations based on deterioration in new residential construction. Lowered target price to $26 from $27 and maintained Underperform rating.

Marvel Ent.

( MVL) downgraded at Jefferies: MVL downgraded from Buy to Hold at Jefferies. recent run-up in share price and 2007 guidance uncertainty make shares less attractive. Price target increased to $26.50 from $25.

Raytheon

(RTN) - Get Report

downgraded at Wachovia: RTN was downgraded to Market Perform at Wachovia. New analyst is making a valuation call, as some uncertainty exists in the forward order outlook.

Western Union

(WUW)

coverage initiated at Jefferies Jefferies said it is initiating coverage on WU-W with a Buy rating and $24 price target. Believe temporary issues facing the Mexican corridor are overshadowing attractive industry fundamentals, premium brand, and impressive financial model.

STOCK COMMENTS / EPS CHANGES

Bed Bath & Beyond

(BBBY) - Get Report

outlook raised at Credit Suisse: Credit Suisse is raising its 2006 EPS estimates on BBBY to $2.18 from $2.15 following in line quarter and favorable outlook. Maintained $40 target price.

BEA Systems

( BEAS) price target raised at Goldman Sachs: BEAS target increased to $17.50 from $16.50 at Goldman. See strong business momentum in multiple categories. Reiterated Buy rating.

Circuit City

(CC) - Get Report

estimates lowered at Goldman: Goldman is cutting 2006 estimates on CC by 6 cents to $1.06 due to lower expectations for gross margins. Target price at $30 and maintain Buy rating.

Circuit City

(CC) - Get Report

estimates raised at Jefferies:Jefferies is increasing its 2006 estimates on CC by 2 cents to $1.10 after company released better than expected Q2 results and raised sales guidance. Price target up to $27 from $26.50 and reiterated Hold rating.

Cintas

(CTAS) - Get Report

numbers raised at Morgan Stanley: Morgan Stanley is raising 2007-2009 EPS estimates slightly for Cintas after the company reported earnings last night and reiterated guidance.

First Data

(FDC) - Get Report

estimates adjusted at Jefferies: 2006 estimates on FDC lowered to $2.07 from $2.39 based on post- Western Union spinoff entity. Sum-of-parts valuation results in $51 target. Reiterated Buy rating.

Corning

(GLW) - Get Report

target price raised Credit Suisse: Credit Suisse said it is raising its target price on GLW to $26 from $24 based on conviction about LCD glass business in Q4. Maintained Outperform rating.

Las Vegas Sands

(LVS) - Get Report

target upped at Jefferies: Jefferies said it is increasing its target to $83 from $81.25 based on discussions with management and earlier opening of Singapore. 2007 estimates higher by a penny, to $2.08. Reiterated Buy rating.

MasterCard

(MA) - Get Report

price target raised at Morgan Stanley: Morgan Stanley raised its price target on MasterCard to $77 and reiterated its overweight rating.

Silicon Labs

(SLAB) - Get Report

price target cut at Morgan Stanley Morgan Stanley lowered 2006-2007 EPS estimates and cut its price target on Silicon Labs after the company preannounced lower than expected earnings. Silicon Labs blamed product transitions at Motorola and an inventory correction in China.

Xyratex

(XRTX)

estimates lowered at Credit Suisse: Credit Suisse said it is lowering its 2006 EPS estimates on XRTX to $2.10 from $2.18 after company reduced 4Q guidance. Lowered target price to $25.