U.S. stock futures rise; eyes on Wal-Mart results

* U.S. stock index futures pointed to a higher open on Wall
Street on Tuesday, with futures for the S&P 500 (SPc1: ) up 0.5
percent, Dow Jones (DJc1: ) futures up 0.4 percent and Nasdaq 100
(NDc1: ) futures up 0.4 percent at 0810 GMT.

* Investors’ focus will be on quarterly results from
Wal-Mart Stores (WMT.N: ) expected to show the retail giant
losing shoppers to other retailers in an improving economy.

Other companies due to report earnings on Tuesday include
Abercrombie & Fitch (ANF.N: ), Hewlett-Packard (HPQ.N: ) and Home
Depot (HD.N: ).

* On the economic front, investors will keep an eye on the
April Producer Price Index and housing starts and permits for
last month.

* U.S. crude futures rose more than $1 a barrel on Tuesday,
rebounding strongly from a five-month low on Monday on concerns
about the health of the global economy.

* European stocks gained 1 percent in morning trade on
Tuesday, led by banks and miners as euro zone debt worries eased
following a meeting of the region’s finance ministers during
which they played down differences on how a massive bailout plan
should be deployed. [ID:nTOPNOW2]

* Investors were digesting a Reuters poll that found
Japanese manufacturers turned optimistic for the first time in
two years in May, providing further evidence of the economy’s
continuing recovery led by Asian demand. [ID:nTOE64H01H]

* Mitsubishi UFJ Financial Group (8306.T: ), Japan’s largest
bank by assets, said on Tuesday it returned to profit in the
past year due to smaller writedowns, and was targeting annual
growth below market expectations. [ID:nTOE64G01N]

* Australian miner Macarthur Coal (MCC.AX: ) rejected Peabody
Energy’s (BTU.N: ) fourth bid as too cheap and said it had failed
to attract support from its top two shareholders.

* Boeing (BA.N: ) said it would boost production of its
narrow-body 737 model to 34 aircraft per month, citing strong
demand from airlines as they rebound from a steep downturn in
2008 and 2009.

* Agilent Technologies Inc’s (A.N: ) quarterly results beat
market expectations, on strength across all its markets, and the
electronics-testing equipment maker gave a strong profit
forecast for the third quarter. [ID:nSGE64D0KM]

* Carl Icahn has more than doubled his stake in
biotechnology giant Genzyme Corp (GENZ.O: ), where he is trying to
get a board seat, the billionaire activist investor reported on
Monday.

* United Parcel Service (UPS.N: ), the world’s largest package
delivery service, said on Tuesday it expected strong growth in
the second quarter in its Asia business. The company said the
volcanic ash cloud hampering air traffic in Europe did not
present any issues for its business.

* A consortium bidding for Fidelity National Information
Services Inc (FIS.N: ) pulled out on Monday because of
disagreement over price, derailing what would have been the
biggest buyout since the credit crisis, three sources familiar
with the situation said.

* Bob Toll, co-founder and chief executive of the U.S.
luxury homebuilder bearing his name and best known for its
“McMansions,” announced his resignation on Monday, and will be
replaced by a non-family member who has worked for the company
for 20 years.

* U.S. stocks (Read more about the stock market today. ) staged a comeback in late trading on Monday as
bargain hunters snapped up beaten-down shares, setting aside
concerns that efforts to tackle the euro zone debt crisis could
stifle the global economy.

* The Dow Jones industrial average (.DJI: ) edged up 5.67
points, or 0.05 percent, to end at 10,625.83. The Standard &
Poor’s 500 Index (.SPX: ) added 1.26 points, or 0.1 percent, to
1,136.94. The Nasdaq Composite Index (.IXIC: ) rose 7.38 points,
or 0.3 percent, to close at 2,354.23.

Stock Basics

(Reporting by Blaise Robinson; Editing by Dan Lalor)

U.S. stock futures rise; eyes on Wal-Mart results