CHANGE IN RATINGS

Carnival Corp. downgraded at Goldman: Goldman said it is lowering its rating on CCL to Inline from Outperform. Concerns about lack of catalysts in the near-term cited in the note.

Hercules upgraded at Jefferies: Jefferies said it was upgrading HPC from Hold to Buy and raising the target by $3 to $16 on improved free cash flow outlook, limited cyclical risk and strengthened balance sheet.

MBIA upgraded at Morgan Stanley: Morgan Stanley said it is raising its rating on MBI to Equalweight from Underweight rating. $66 target price.

Sanmina downgraded at Morgan Stanley: Morgan Stanley said it is lowering its rating on SANM to Equalweight from Overweight. Weakness in PC's and loss of Sun ODM server business over the company quarters cited.

Tim Horton's coverage initiated at Prudential: Prudential said it is initiating coverage on THI with a Neutral Weight rating and $27 target price.

STOCK COMMENTS / EPS CHANGES

Alcoa estimates raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on AA for the full year to $2.26 a share from $1.93 a share. Maintained Overweight rating.

Aflac estimates cut at Morgan Stanley: Morgan Stanley said it is lowering its estimates AFL for the full year. Further weakness below $45 a share is an attractive entry point.

Ameriprise Financial estimates raised at Goldman: Goldman said it is increasing its estimates on AMP for the full year to $3.04 a share from $3 a share. Company authorized a $750 million buyback. Maintained Outperform rating.

Constellation Energy target lowered at Jefferies: Jefferies said it was lowering the target on CEG by $2 to $58.50 valuation. Maintained Hold rating.

Century Aluminum target raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on CENX for 2006 to $5.07 a share from $4.40 a share. Target raised to $53 a share. Maintained Overweight rating.

General Electric target raised at Morgan Stanley: Morgan Stanley said it is increasing its target price on GE to $44 a share from $42 a share. Estimates for 2006 to $1.91 a share from $1.88 a share.

Goodrich target, estimates raised at Jefferies: Jefferies said it was raising FY 2006 EPS estimates on GR from $2.35 to $3.27 and the target from $38 to $47 on the announcement of two tax settlements. Maintained Hold rating.

JB Hunt Transport estimates lowered at UBS: CSFB said it is lowering its 2006 EPS estimates on JBHT by 5 cents to $1.55 to account for weaker industry volumes. Maintained $17.50 target price.

Level 3 Communications outlook raised at Goldman: Goldman said it is increasing its estimates on LVLT for the full year to a loss of 94 cents a share from a loss of $1.27 a share. Valuation reflects sustained pricing stability that may not be possible given oversupply.

Paychex target, estimates raised at Jefferies: Jefferies said it was raising FY 2006 and 2007 EPS estimates on PAYX from $1.20 and $1.38 to $1.21 and $1.43 respectively and the target by $4 to $44 on outstanding new bookings reported in fiscal 3Q06 results. Maintained Hold rating.

Steelcase outlook lowered at Goldman: Goldman said it is lowering its estimates on SCS for the full year to 70-cents a share from 72-cents a share. Maintained Inline rating.

Supervalu outlook lowered at UBS: UBS said it is lowering its 2006 EPS estimates on SVU to $2.17 from $2.31 to account for acquisition costs. Lowered target price to $32 from $35.

Swift Transportation estimates lowered at CSFB: CSFB said it is lowering its estimates on SWFT by 2 cents to $1.68. Sees freight volumes easing but believes company has the ability to make up for any revenue shortfall. Maintained $25 target price.

UnitedHealth estimates raised at Prudential: Prudential said it is raising its 2006 estimates on UNH by 7 cents to $3.02 due to expectations for Q1 outperformance. Weak flu season and share repurchase should restore confidence.