Upgrades
Allstate Corp. (ALL) raised to “outperform” from “neutral” by Lehman Bros.
Archer Daniels Midland (ADM) raised to “buy” from “hold” by CS First Boston
Colgate Palmolive (CL) raised to “accumulate” from “hold” by Prudential
Commerce One (CMRC) raised to “strong buy” from “accumulate” by Prudential Securities
First Union (FTU) raised to “buy” from “market perform” by Deutsche Bank Alex. Brown
General Motors (GM) raised to “buy” from “neutral” by Dain Rauscher Wessels
Intel (INTC) raised to “buy” from “outperform” by ABN Amro
J.P. Morgan (JPM) raised to “buy” from “hold” by Fox-Pitt
McKesson HBOC (MCK) raised to “outperform” from “neutral” by Morgan Stanley
Oracle (ORCL) raised to “strong buy” from “outperform” by Morgan Stanley
PMI Group (PMI) raised to “recommended list” from “market outperform” by Goldman Sachs
United Parcel Service (UPS) raised to “strong buy” from “outperform” by Morgan Stanley
Downgrades
Advanced Micro Devices (AMD) lowered to “market perform” from “strong buy” by Banc of America
BorgWarner (BWA) lowered to “hold” from “buy” by First Union Securities
BP Amoco (BP) lowered to “market outperform” from “recommended list” by Goldman Sachs
Halliburton (HAL) lowered to “accumulate” from “strong buy” by Prudential
Heller Financial (HF) lowered to “buy” from “strong buy” by Deutsche Bank Alex. Brown
FatBrain.com Inc. (FATB) lowered to “neutral” from “buy” by USB Piper
McDonald’s (MCD) lowered to “market perform” from “buy” by Banc of America
SCI Systems Inc. (SCI) lowered to “buy” from “strong buy” by Thomas Weisel Partners
Sherwin-Williams (SHW) lowered to “buy” from “aggressive buy” by McDonald Investments
US Airways (U) lowered to “market underperform” from “market perform” by Goldman Sachs
Wells Fargo (WFC) lowered to “market perform” from “buy” by Deutsche Bank Alex. Brown
