Wall St up as earnings offset retail data; Intel soars

By Leah Schnurr

NEW YORK (Reuters) - U.S. stocks managed modest gains on Tuesday as better-than-expected corporate profits overshadowed concerns about weak consumer demand.

Positive surprises on the earnings front could boost markets again on Wednesday as chip maker Intel (INTC.O: Cotización) reported results after the bell that surpassed expectations, driving stock index futures sharply higher.

Intel also gave a forecast for current-quarter revenue that beat analysts' estimates. Its stock surged 7.4 percent to $18.08 in extended trade.

Analysts said the bulk of Tuesday's news during the regular session, including a jump in profit from Goldman Sachs (GS.N: Cotización), was already accounted for on Monday, when major stock indexes climbed more than 2 percent in anticipation of strong bank results.

Competing positive and negative earnings reports tempered each other, keeping the markets range-bound.

Gains were muted by lackluster retail sales data and comments from Dell DELL.O that second-quarter margins would be lower as demand has shifted toward cheaper computers, such as netbooks.

This was offset by encouraging comments from railroad company CSX Corp's (CSX.N: Cotización) chief executive and results from Johnson & Johnson (JNJ.N: Cotización) that surpassed expectations.

"The sellers had a chance to run with it, but again we found sideline cash ready to come in," said Scott Marcouiller, senior equity market strategist at Wells Fargo Advisors in St. Louis.