Stock futures higher after Friday sell-off, earnings eyed

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Published October 22, 2012

| Reuters

U.S. stock index futures advanced on Monday, indicating the S&P 500 may bounce from its worst decline since late June ahead of earnings from companies including Caterpillar and Freeport-McMoRan.

* The benchmark S&P index fell 2.2 percent on Friday, its biggest daily drop since June 21, after Dow components General Electric and McDonald's , both barometers of the overall economy, added to a disappointing earnings season.

* SunTrust Banks Inc's third-quarter profit surged as the bank gained from the accelerated sale of its shares in Coca-Cola Co that produced a pre-tax gain of $1.9 billion.

* Hasbro Inc , the No. 2 U.S. toy company, reported a lower quarterly profit on Monday, hurt by a fall in sales in its boys and preschool product lines.

* Along with Caterpillar Inc and Freeport-McMoRan Copper and Gold Inc , investors can expect earnings from Yahoo Inc , Peabody Energy Corp and Texas Isntruments Inc .

* Rosneft and BP are preparing to announce a deal worth over $25 billion that could give the British oil company a stake of between 16 and 20 percent in the state-controlled Russian energy firm, sources familiar with the situation said.

* U.S. agriculture giant Archer Daniels Midland has bid $2.8 billion for GrainCorp , sending shares in Australia's last independent grains handler soaring, as markets bet on a higher offer price or rival bids being flushed out.

* Ancestry.com Inc said that it will be acquired by a group led by Europe-based private equity firm Permira in a $1.6 billion deal.

* European stocks pared early losses and turned slightly positive as renewed expectations that Spain was moving closer to seeking a bailout eclipsed worries over corporate results.

(Reporting by Chuck Mikolajczak; Editing by Chizu Nomiyama)

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