Biovail (BVF) downgraded from Buy to Neutral.
Raytheon (RTN) downgraded from Neutral to Sell.

Eaton (ETN) started as Buy.
Triad Hospitals (TRI) started as Neutral (coverage universe transfer after analyst been covering the sector for 11 years).

Earnings estimates INCREASED: IHS Inc. (IHS), Morgan Stanley (MS), Eli Lilly (LLY).

Earnings estimates DECREASED: General Motors (GM), Motorola (MOT), Radio One (ROIAK), Triad Hospitals (TRI).

Komag (KOMG) maintained Sell at Goldman on eroding margins.

Jon C. Ogg
March 22, 2007