* S&P 500, Nasdaq coming off five-day advances
* Netflix jumps, results show strong subscriber growth
* Rail stocks could benefit from delay in Keystone pipeline
* Futures up: Dow 11 pts, S&P 0.6 pt, Nasdaq 9.75 pts
By Ryan Vlastelica
NEW YORK, April 22 U.S. stock index futures were
flat on Tuesday as investors found few reasons to continue
buying after a five-day rally in the S&P 500, though Netflix
jumped following its earnings results.
* Netflix Inc surged 7.9 percent to $376 in
premarket trading as results on Monday showed strong subscriber
growth, a sign that the trading favorite still had room to grow
despite concerns over its elevated valuation. The move helped
boost Nasdaq futures.
* Dow components Travelers Cos Inc and United
Technologies Corp on Tuesday reported first-quarter
results, with United Tech's profit ahead of consensus.
* United Tech was the latest prominent name to outperform
this earnings season, continuing a trend that last week helped
lift the S&P 500 to its best week since July.
* Dozens of S&P 500 components are slated to report this
week, and of the 87 that had reported thus far, 62.1 percent
have topped earnings expectations, according to Thomson Reuters
data, compared with the 66 percent average over the past four
quarters. On the revenue side, 51.7 percent have exceeded
forecasts, below the 54 percent average over the past four
* S&P 500 companies' first-quarter earnings are projected to
have increased 0.8 percent from a year ago, Thomson Reuters data
showed. The forecast is down sharply from the start of the year,
when profit growth was estimated at 6.5 percent.
* S&P 500 futures rose 0.6 point and were slightly
under 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
11 points and Nasdaq 100 futures rose 9.75 points.
* European shares were sharply higher on the day,
rising 1.2 percent on the back of deal activity in the
pharmaceutical space, including Novartis both swapping
assets with GlaxoSmithKline and selling a unit to Eli
Lilly & Co. U.S. shares of Glaxo rose 4.6 percent to
$55.54 in premarket trading.
* Rail stocks may be in focus following the latest delay in
the Keystone XL Pipeline approval, which effectively cements the
view that U.S. freight rail haulers are here to stay as big
players in the oil-shipping business.
* General Motors Co filed a motion in a U.S.
bankruptcy court to enforce a bar on lawsuits related to
ignition defects in cars sold before its 2009 bankruptcy as it
fights a class action lawsuit that seeks to set aside the
(Editing by Chizu Nomiyama)