Movers: GM, Hartford Financial, Goodyear Tire, American Tower

Stocks in the news Monday

From Standard & Poor's Equity Research

General Motors (GM) falls 0.14 to 5.65 after the auto maker says dealers in the U.S. delivered 170,585 vehicles in Oct., down 45% compared with a year ago. Notes GM truck sales of 97,119 were down 51% and car sales of 73,466 were off 34%. Notes steep decline in vehicle sales was largely due to a significant drop in the market's retail demand as uncertainty over the deepening credit crisis impacted consumer confidence. S&P maintains sell.

Hartford Financial Services Group (HIG) states that its capital margin, the capital in excess of rating agency requirements to maintain AA level ratings, would be about $2 billion at yearend, assuming a year end S&P 500 level of 900. Earlier, Fitch Ratings downgraded Issuer Default Rating on HIG to 'A' from 'A+', the senior debt rating to 'A-' from 'A', junior subordinated debentures to 'BBB+' from 'A-'. Fitch also downgraded insurer financial strength (IFS) ratings of HIG's primary life and property/casualty insurance subsidiaries to 'AA-' from 'AA'. Rating Outlook is negative.

Goodyear Tire & Rubber (GT) posts $0.13, vs. $0.67, third quarter EPS from continuing operations as net rationalization charges offset 2% sale rise.

American Tower (AMT) posts $0.15, vs. $0.14, third quarter EPS on 11% revenue rise. Sees 2008 tower revenue and adjusted EBITDA to increase about 10% and 14%, respectively, excluding imapcts of forex and straight-line revenue and expense recognition. Sees increase in 2009 tower revenue and adjusted EBITDA of about 10% and 11%, respectively, excl. impacts of forex, straight-line revenue and expense recognition and any potential benefits from a widespread WiMAX network build out.

Administaff (ASF) posts $0.46, vs. $0.45, third quarter EPS on 10% revenue rise.

Stratasys (SSYS) posts $0.18, vs. $0.15, (adjusted) third quarter on 16% higher revenue. Maintains 2008 non-GAAP EPS guidance of $0.79-$0.84 ($0.75-$0.80 GAAP basis) on $125-$130 million revenue.

JP Morgan upgrades Wal-Mart Stores (WMT) to overweight from neutral.

Oshkosh (OSK) posts better-than-expected $0.72, vs. $1.14, fourth quarter EPS as lower volume in its access equipment segment, higher raw material costs, adverse product mix offset 5.8% sales rise. Street was looking for $0.67. Sees fiscal year 2009 EPS of $1.65-$2.05 on sales of $6.3-$6.7 billion. Also says its Oshkosh Defense division will add more than 6,000 upgraded vehicles to U.S. Army's Family of Heavy Tactical Vehicle (FHTV) fleet under a new 3-year contract. First order is valued at $1.2 billion and delivery will start in November.

S&P believes shares of Frontier Communications (FTR) and Windstream (WIN) and other rural wireline telcos are higher today due to unconfirmed reports by Bloomberg and other media outlets that the FCC will postpone a vote that could have hurt the companies' revenue streams. Maintains strong buy.

PIMCO High Income Fund (PHK) postpones payment of previously declared dividend on its common shares scheduled for payment on Nov.