US Stock Futures Up As Investors Await Time Warner, Kellogg Earnings; Las Vegas Sands Shares Drop In Pre-Market Trading

US stock futures are slightly higher this morning, as investors are awaiting earnings reports from Time Warner Inc (NYSE: TWX) and Kellogg Co (NYSE: K). Futures on the Dow Jones Industrial Average gained 20 points to 12,769.00 and futures on the S&P 500 stock index rose 1.80 points to 1,353.90. Nasdaq 100 futures gained 1 point to 2,390.75.

On Tuesday, the Dow Jones industrial average gained 0.15 point to 12,807.51, the broader Standard & Poor's 500 index declined 0.34% to 1,356.62 and the NASDAQ composite index fell 0.78% to 2,841.62.

The ADP employment survey for April will be released at 8:15 a.m. ET. The ISM non-manufacturing index for April will be released at 10 a.m. ET.

Shares of Las Vegas Sands Corp (NYSE: LVS) dipped about 8.9% in pre-market trading after the company reported weaker-than-expected adjusted earnings for the first quarter.

PG&E Corp (NYSE: PCG) is expected to post its Q1 earnings at $0.81 per share on revenue of $3.59 billion. Whole Foods Market Inc (NASDAQ: WFMI) is estimated to post its Q2 EPS at $0.46 on revenue of $2.37 billion. Time Warner Inc is projected to report its Q1 EPS at $0.57 on revenue of $6.45 billion.

Metlife Inc (NYSE: MET) is projected to report its Q1 earnings at $1.26 per share on revenue of $15.89 billion. Electronic Arts Inc (NASDAQ: ERTS) is projected to post its Q4 earnings at $0.22 per share on revenue of $923.88 million. AOL Inc (NYSE: AOL) is expected to report its Q1 EPS at $0.17 on revenue of $536.35 million.

News Corp (NASDAQ: NWSA) is projected to post its Q3 earnings at $0.27 per share on revenue of $8.42 billion. Computer Sciences Corp (NYSE: CSC) is projected to post its FQ4 earnings at $1.56 per share on revenue of $4.27 billion. Kellogg Co is estimated to report its Q1 EPS at $1.03 on revenue of $3.40 billion. Marsh & McLennan Companies Inc (NYSE: MMC) is expected to post its Q1 EPS at $0.56 on revenue of $2.83 billion.

CBS Corp (NYSE: CBS) reported its Q1 net income at $202 million, or $0.29 per share, versus a loss of $26 million, or $0.04 per share, in the year-ago period. The company's last year net income came in at $0.05 per share after excluding special items. The company's revenue declined to $3.51 billion. However, analysts were expecting earnings of $0.19 per share on revenue of $3.46 billion. The company raised its quarterly dividend to $0.10 per share from $0.05 per share.

McKesson Corp (NYSE: MCK) reported a higher-than-expected FQ4 profit. The company posted its quarterly net profit at $422 million, or $1.62 per share, versus a profit of $348 million, or $1.26 per share, in the year-earlier period. Excluding acquisition-related expenses of $0.04 per share for McKesson's purchase of US Oncology, the company's earnings came in at $1.66 per share, versus analysts' estimates of $1.60 per share. McKesson projects FY12 adjusted earnings of $5.55 to $5.75 per share.

Asian markets ended lower, with Australia's S&P/ASX 200 moving down 0.84% and China's Shanghai Composite dropping 2.26%. Hong Kong's Hang Seng Index dropped 1.35% and India's Sensex fell 0.40%.

European markets were lower today. The STOXX Europe 600 Index has declined 0.10%, London's FTSE 100 Index moved down 0.44%.

The US dollar dropped versus most other currencies. The dollar index (DXY) dropped 0.2% to 73.01.

July silver contract fell $0.64 to $41.95 an ounce. Light, sweet crude for June delivery fell 0.2% to $110.78 a barrel on the New York Mercantile Exchange (NYMEX).

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