* Michael Kors shares soar after results
* International Paper profit nearly doubles
* Futures up: Dow 70 pts, S&P 11 pts, Nasdaq 18 pts
By Rodrigo Campos
NEW YORK, Feb 4 U.S. stocks were poised to rise
at the open on Tuesday, underpinned by a slew of sturdy
corporate results, as the market regained its footing following
its largest selloff in months a day earlier.
* Wall Street kicked off a global equities selloff Monday,
with the S&P 500 suffering its worst drop since June, after
weaker-than-expected U.S. data added to concerns over growth in
China and the outlook for some emerging economies.
* Equities in Japan and Seoul fell to multi-month lows
overnight and Europe followed suit, weighed further by earnings
* Macroeconomic events have been a recent focus for
investors in the wake of a recent rout in emerging market
currencies, which triggered action by some central banks. That
pressured bond and stock holdings and forced investors to exit
in favor of assets perceived as relatively safe, like the yen
and U.S. and German government debt.
* The concerns drove the price of protection against further
drops on the S&P 500 to its highest in 13 months. The CBOE
Volatility Index on Monday rose 16.5 percent to close at
its highest since Dec. 28, 2012. The VIX is up 56 percent so far
* S&P 500 e-mini futures rose 11 points and were
above 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 rose
70 points and Nasdaq 100 futures added 18 points.
* Of the 250 companies in the S&P 500 that have recently
reported earnings, 69.7 percent have beaten analysts' profit
expectations, while 66.0 percent have exceeded revenue
expectations, according to the latest data from Thomson Reuters.
* Michael Kors Holdings Ltd reported a 77 percent
jump in third-quarter profit as shoppers snapped up its handbags
and accessories, sending its shares up more than 19 percent in
* Bank shares could get a bump as U.S-traded shares of UBS
and Itaú Unibanco rallied in premarket trading.
Itaú, Brazil's largest private-sector lender, reported record
fourth-quarter profit that beat analysts' estimates. UBS swung
to a larger-than-expected fourth-quarter profit and announced
higher dividends and bonuses. ADRs of both banks rose more than
6 percent in trading before the opening bell.
* Shares of Yum Brands Inc rose 4.5 percent
premarket after the KFC parent reaffirmed its 2014 profit
outlook and said a resurgent bird flu in China had not hurt
national sales in its top market.
* Shares of Furiex Pharmaceuticals doubled in price
in premarket trading after the drugmaker said an experimental
drug met the main goal of a pair of large clinical trials by
significantly alleviating diarrhea and abdominal pain associated
with irritable bowel syndrome.