* S&P 500 coming off biggest weekly percentage gain since
* Earnings seen driving trading, dozens of names report this
* Results from Netflix expected after the market close
* Futures up: Dow 22 pts, S&P 2.7 pts, Nasdaq 10 pts
By Ryan Vlastelica
NEW YORK, April 21 U.S. stock index futures were
very slightly higher on Monday as investors found few reasons to
keep buying following a strong rally last week and ahead of a
heavy week of corporate earnings releases.
* The S&P 500 had its best week since July last week,
boosted by strong results from such names as General Electric Co
and Morgan Stanley. However, thus far the earnings
season has been mixed, with technology names like Google Inc
and IBM struggling to impress investors.
* With less than one-fifth of S&P 500 companies having
reported results so far, about 63 percent have topped earnings
expectations, according to Thomson Reuters data, exceeding the
56 percent average over the past four quarters. About 52 percent
have beaten revenue forecasts, about even with the 54 percent
average over the past four quarters.
* Hasbro Inc reported adjusted first-quarter
earnings that topped forecasts, though revenue was below
expectations. SunTrust Banks Inc also reported results
* Advanced Micro Devices rose in light premarket
trading. Late Thursday, the last session before the Good Friday
trading holiday, the chipmaker posted first-quarter results that
* Perhaps the most eagerly awaited name on Monday is Netflix
Inc, which will report after the market closes. The
online movie renter was recently a trading favorite, soaring 300
percent last year as the S&P 500's biggest percentage gainer.
The stock, stung by claims it is overvalued, slumped recently
alongside a broader decline in "momentum" names. Analysts will
look to see whether the results justify its still-elevated
* S&P 500 futures rose 2.7 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 added 22
points and Nasdaq 100 futures rose 10 points.
* The S&P 500 and Nasdaq are coming off four-day winning
streaks, and investors may look to take profits on any
disappointing corporate news.
* Dozens of S&P components will report this week, including
such closely watched names as Apple Inc, Biogen Idec
and Facebook Inc. A number of Dow components,
including McDonald's Corp, AT&T Inc, Procter &
Gamble and Caterpillar Inc, are also on tap to
* Last week the Dow rose 2.4 percent, the S&P 500 added 2.7
percent and the Nasdaq advanced 2.4 percent. The Dow had its
best week since December while the S&P 500 closed out its best
week since July. The CBOE Volatility index, a measure of
investor anxiety, fell 21.6 percent over the week, its biggest
weekly drop since January 2013.
(Editing by Chizu Nomiyama)