* S&P 500 has ended higher 13 times in the past 16 sessions
* Amazon, Zynga shares pressured in premarket after results
* Futures down: S&P 4.8 pts; Dow 38 pts; Nasdaq 8 pts
NEW YORK, July 26 U.S. stock index futures fell
on Friday as the market took a breather from a recent rally that
has taken the S&P 500 up 18.5 percent for the year and as
investors digested a slew of major earnings.
* Major U.S. stock indexes have advanced steadily this year
with the S&P 500 hitting an all-time high earlier this week. The
broad market index has ended higher 13 times in the past 16
sessions. For July, the benchmark index has added 5.2 percent.
* S&P 500 futures fell 4.8 points and were below fair
value, a formula that evaluates pricing by taking into account
interest rates, dividends and time to expiration on the
contract. Dow Jones industrial average futures fell 38
points, and Nasdaq 100 futures lost 8 points.
* In earnings, Starbucks Inc shares rose 6.6
percent to $72.69 in premarket trade, a day after the world's
biggest coffee chain posted a bigger-than-expected jump in
quarterly profit after new fruit "Refresher" energy drinks and
seasonal Frappuccino iced beverages helped drive more visits to
shops in the United States, its top market.
* On the downside, Amazon.com Inc shares fell 1.9
percent to $297.52 in premarket trade one a day after the
company forecast disappointing income and revenue as it grapples
with a weaker international market, overshadowing improved
profit and economic conditions in the United States.
* Zynga Inc shares plunged 18.6 percent in
premarket trade a day after the company announced it will
largely abandon its long-running efforts to build a real-money
gaming business in the United States, a prospect investors once
believed to be the struggling company's sole lifeline.
* Tyco International Ltd and Stanley Black & Decker
are among companies that report on Friday. As of
Thursday's close, 47 percent of the S&P 500 companies reported
earnings, and about 68 percent of them have topped profit
forecasts, above the historical average of 63 percent. About 56
percent have reported better-than-expected revenue, a rate that
is below the historical average.
* European shares edged lower on Friday. Germany's DAX
market had already unsettled some investors this week
with profit warnings from some of its leading companies.
* In Asia, Japan's Nikkei share average slid 3 percent and
was near a three-week low on Friday, with blue-chip exporters
and financials leading declines on the back of a stronger yen