US STOCKS-Solid earnings, outlooks boost futures

                                
 * Tech earnings renew optimism about economic recovery
                                
 * Spanish auction eases debt contagion worry
                                
 * Futures up: Dow 137 pts, S&P 17.7 pts, Nasdaq 29.25 pts
                                
 * For up-to-the-minute market news see [STXNEWS/US]
 (Updates comment, adds United Tech and AT&T earnings)
                                
 By Chuck Mikolajczak
                                
 NEW YORK, April 20 (Reuters) - U.S. stock index futures
climbed on Wednesday after solid earnings and outlooks from a
trio of major technology companies renewed optimism about
corporate profits and the economic recovery. 
                                
 Intel Corp <INTC.O> jumped 5.6 percent to $21.11 in
premarket trade after forecasting quarterly revenues well above
Wall Street's estimates, easing fears the world's largest
chipmaker is struggling as personal computer sales growth
wanes. For details, see [ID:nN19291560]
                                
 Yahoo Inc <YHOO.O> advanced 4.2 percent to $16.80 after the
Internet company said an important partnership with Microsoft
Corp  <MSFT.O> is taking longer than expected to pay off, but
the company posted quarterly earnings that topped Wall Street
targets. [ID:nN18239254]
                                
 "It's not just that the earnings were good. Expectations
were that we were going to begin to get a series of
disappointing earnings," said Rick Meckler, president of
LibertyView Capital Management in New York.
                                
 "So you've got not just the reaction to the
better-than-expected earnings, but a change in sentiment from
what has been seen as a possibly very disappointing earnings
quarter, particularly for technology."
                                
 But IBM <IBM.N> shed 1.1 percent to $163.49 after reporting
a decline in signings of new business at its global services
division during the first quarter, even as its profit and
revenue came in ahead of analysts' projections. [ID:nN1959077]
                                
 Adding to the positive tone, Spain attracted solid demand
at a bond sale on Wednesday, easing concerns it could be swept
up by the contagion hitting other euro zone members.
[ID:nLDE73J14X]
                                
 Diversified manufacturer United Technologies Corp <UTX.N>
posted a 16.9 percent rise in quarterly profit and raised its
outlook for the year, boosted by strong demand for its Carrier
air conditioners. [ID:nN20127957]
                                
 AT&T added 1.6 percent to $30.80 after the Dow component
posted its first-quarter results. [ID:nN2086478]
                                
 S&P 500 futures <SPc1> added 17.7 points and were above
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 <DJc1> gained
137 points and Nasdaq 100 futures <NDc1> rose 29.25 points.
                                
 Other companies scheduled to report quarterly results on
Wednesday include Apple Inc <AAPL.O>, American Express Co
<AXP.N>, and Freeport-McMoRan Copper & Gold <FCX.N>.
                                
 Apple is expected to report quarterly results tempered by
caution over how supply constraints may squeeze margins and
restrain iPhone and iPad sales. [nL3E7FK17N]
                                
 Economic indicators include March existing-home sales at 10
a.m. [1400 GMT].
                                
 On the M&A front, U.S. power company AES Corp <AES.N> said
it would buy smaller rival DPL Inc <DPL.N> for $3.5 billion in
cash to expand in the Midwest by adding 500,000 retail
customers in West Central Ohio. [ID:nL3E7FK0ON]
                                
 DPL shares gained 8.8 percent to $30.01 in premarket
trade.
 (Reporting by Chuck Mikolajczak; Editing by Kenneth Barry)