NEW YORK (CNNfn) - Coca-Cola faced a challenge Friday after Salomon Smith Barney lowered its volume growth estimates on the world's leading soft-drink company.
Noting continued softness in North America, a downward revision of growth in Japan and concerns about operations in the Philippines, Salomon Smith Barney cut its volume growth estimates on Coca-Cola (KO: Research, Estimates) for the second half of 2000 to 4.5 percent from a range of 5 to 5.5 percent.
For 2001, it lowered its volume growth rate estimate to 5 percent from 5.5 percent.
However, the brokerage continued to recommend the stock as a "buy," with a 12-month price target of $68.
Shares of Coke declined 1-15/16 to 56 in late afternoon trading.
E-consulting company Razorfish (RAZF: Research, Estimates) also suffered. Deutsche Banc Alex. Brown downgraded the stock to "buy" from "strong buy" after the company's president said he would resign.
But Wit SoundView upgraded Apple Computer (AAPL: Research, Estimates) to "strong buy" from "buy."
Shares of Apple were up 15/32 at 56-9/16 late Friday.
And Sycamore Networks (SCMR: Research, Estimates) bloomed in the eyes of many analysts after the telecommunications company late  Thursday reported a quarterly profit that beat Wall Street's estimates.
Credit Suisse First Boston hiked its fiscal 2001 sales estimate to $517 million from $407 million and maintained a "buy" rating on the stock.
Donaldson, Lufkin & Jenrette raised its 12-month price target to $180 and reiterated its "buy" rating.
And Lehman Brothers also kept its "buy" rating and a $200 year-end price target.
The company, which supplies components used in fiber-optic networks, said it earned 8 cents per share in its fiscal fourth quarter compared with earnings tracker First Call's expectations of 6 cents.
Despite the praise, Sycamore dropped 6 to 152.
Credit Suisse was upbeat about another telecom firm. The brokerage rated shares of JDS Uniphase (JDSU: Research, Estimates) a "buy" with a nine- to 12-month price target of $150 despite the government's scrutiny of the company's pending merger with SDL (SDLI: Research, Estimates).
In a note to clients, Credit Suisse said it believes the merger will be approved by the Department of Justice, citing increasing competition from start-ups.
JDS Uniphase rose 1/4 to 125-3/8. 
-- compiled from staff and wire reports
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