The Giants yesterday waived receiver Jonathan Carter and signed cornerback Reggie Stephens – addressing their surplus at one position and their deficit at the other.

Stephens, who logged three interceptions in 15 games for the Giants in 2000, returns because of the injuries to Will Peterson (toe) and Will Allen (leg, groin), plus Jason Sehorn’s continued limited role. Allen and Sehorn are expected to play on Sunday against the Falcons, but Peterson probably won’t.