Several Wall Street analysts raised their first-quarter estimates yesterday but some still remained cautious about the outlook for United as well as for other airlines.

In today's Government report, growth in personal consumption was revised to a 1.1 percent annual rate, from the earlier first-quarter estimate of 1.3 percent.

Although several analysts lowered their first-quarter estimates after the announcement, Kodak's shares held firm, rising 37.5 cents, to $65.625.

Traders were awaiting the publication Friday of the government's first revision of its first-quarter estimate of gross domestic product.

But analysts made only modest changes in their first-quarter 1999 estimates, and did not change their recommendations on the stock.

Soon afterward, a large group of analysts downgraded the stock and reduced first-quarter estimates by about 20 percent, sending I.B.M. shares down $8.25 yesterday, to $100.125.

On Monday, Nokia also revised its first-quarter estimates slightly, saying it would sell 141 million phones, up from 128 million units.

Over recent months, analysts, with the company's guidance, have been trimming their first-quarter estimates to less than 50 cents a share from 66 cents a year earlier.

And more important, he said, are the revisions in first-quarter estimates.

Her own first-quarter estimate for G.M., a number she had locked into at the end of the previous quarter, was $1.70 a share.