US STOCKS-Wall St to edge higher after earnings, data

martes 15 de abril de 2014 09:07 GYT

* CPI edges higher, Empire State manufacturing misses expectations

* Yahoo, Morgan Stanley rise after analyst upgrades

* Futures up: Dow 22 pts, S&P 2.75 pts, Nasdaq 6.75 pts (Adds data, changes byline)

By Chuck Mikolajczak

NEW YORK, April 15 (Reuters) - U.S. stock index futures pointed to a modestly higher open on Tuesday as earnings from Coca Cola and Johnson & Johnson helped overshadow a mixed bag of economic data.

* Coca-Cola Co advanced 2.8 percent to $39.80 in premarket trade after the soft drink maker reported better-than-expected quarterly revenue as strong sales in China more than offset a drop in Europe and flat volumes in North America.

* Fellow Dow component Johnson & Johnson rose 2.5 percent to $99.56 before the opening bell after it posted quarterly earnings well above Wall Street expectations, as strong sales of new prescription drugs offset weak sales of consumer products, and slightly raised its full-year profit view.

* But futures pared gains slightly after a pair of economic reports. A gauge of manufacturing in New York state grew at a slower rate than the previous month and was below expectations in April. Meanwhile, the U.S. Consumer Price Index increased 0.2 percent in March, although inflation pressures remained generally benign.

* S&P 500 companies' first-quarter earnings are projected to have increased just 1 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.   Continuación...