* Yellen, new Fed chair, takes hot seat at Capitol
* Sprint's quarterly revenue increases, subscribers grow
* Futures up: S&P 6.3 pts; Dow 46 pts; Nasdaq 15.5 pts
NEW YORK, Feb 11 U.S. stock index futures gained
on Tuesday on hopes that the new Federal Reserve Chair Janet
Yellen will reinforce the Fed's determination to halt the
money-printing presses while assuring investors that a rise in
interest rates remains a long way off.
* Yellen's prepared testimony on the Fed's semiannual
monetary policy report will be released at 8:30 a.m. EST (1330
GMT). A hearing before the Republican-controlled House of
Representatives Financial Services Committee starts at 10:00
a.m. (1500 GMT).
* Yellen, in just her second week in the job since
succeeding Ben Bernanke, is expected to be cautiously optimistic
after a mixed ream of data that has raised questions about the
growth outlook for the world's largest economy.
* S&P 500 e-mini futures rose 6.3 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
46 points and Nasdaq 100 futures added 15.5 points.
* The central bank has cut its monthly bond-buying program
by $10 billion at each of its last two meetings, reducing the
total amount of purchases to $65 billion.
* Sprint Corp, the No. 3 U.S. mobile provider,
reported an increase in quarterly revenue that was ahead of
analysts' expectations and said it added wireless subscribers in
the fourth quarter. The stock was up 6 percent in premarket
* CVS Caremark Corp posted higher quarterly profit
as it processed more prescriptions and benefited from the
introduction of new generic drugs. The stock rose 2.5 percent in
* French cosmetics firm L'Oreal is buying 8
percent of its shares from Swiss food group Nestle for
6.5 billion euros ($9 billion), loosening their 40-year
partnership and allowing both firms to boost earnings per share.
* U.S. stocks ended with modest gains on Monday as investors
looked ahead to new Federal Reserve Chair Janet Yellen's first
testimony before lawmakers.