US STOCKS-Wall St futures point lower on weak results

                                
 NEW YORK, April 21 (Reuters) - U.S. stock index futures
pointed to a lower open on Tuesday on concerns about the state
of corporate profits after several major U.S. companies
reported disappointing quarterly results and even cloudier
outlooks.
                                
 Caterpillar Inc <CAT.N> shares slipped 4.4 percent to
$29.15 in premarket trade after the world's No. 1 maker of
building equipment posted first-quarter results and said it
will suspend share repurchases. [ID:nWNAB5443]
                                
 Chemical maker DuPont Co <DD.N> reported a 59 percent fall
in quarterly earnings, cut its full year 2009 profit forecast
due to weak demand, and said it will cut costs further.
[nN21414260]
                                
 Bank of New York Mellon Corp <BK.N> said first-quarter
profit fell by more than one-half as fees tumbled, and the bank
slashed its dividend 63 percent in an effort to build capital.
Its shares fell 5.8 percent to $26.41 in premarket trade.[ID:nN21414260]
                                
 "We're going to get a lot of earnings today. That's going
to dominate a lot of the activity after yesterday's massive
profit taking following Friday's options expiration," said Paul
Mendelsohn, chief investment strategist at Windham Financial
Services in Charlotte, Vermont.
                                
 "Now we are going to get a much better picture across
multiple sectors and across the entire market and that will
give us a picture of what the economy has been doing in the
first quarter.
                                
 S&P 500 futures <SPc1> dropped 6.20 points and were below
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> slid 65
points, and Nasdaq 100 <NDc1> futures fell 5.50 points.
                                
 Drugmaker Merck & Co Inc <MRK.N>, which plans to buy rival
Schering-Plough Corp <SGP.N> later this year, reported
lower-than expected sales and earnings and cited the global
economic slowdown. [ID:nN21449400]
                                
 Diversified U.S. manufacturer United Technologies Corp
<UTX.N> reported a 27.8 percent fall in quarterly profit as the
slumping economy crimped demand for its jet engines and air
conditioners. [ID:nN21261703]  Shares were down slightly at
$45.78.
                                
 Soft drink maker Coca-Cola Co <KO.N> shed 1.3 percent to
$43.76 after posting first-quarter results that included a 3
percent drop in revenues. [ID:nWNAB5447]
                                
 At the close of trading on Friday, the blended growth rate
for the first quarter, which combines actual numbers for
companies that have reported earnings and estimates for
companies that have yet to report, stood at negative 37.4
percent, according to Thomson Reuters data.
                                
 Shares of General Motors Corp <GM.N> jumped 11.5 percent in
premarket trade after an independent oversight report on the
Treasury Department's corporate rescue fund said the Obama
administration will make up to $5 billion available to GM
through May and will also make $500 million available to
Chrysler as it seeks to reach an alliance with Fiat <FIA.MI>.
                                
 Stocks slid more than 3 percent on Monday after weak
results from Bank of America Corp <BAC.N> reignited concerns
over the state of the banking industry and the economy.
                                
 European shares were lower in choppy trade as declines in
bank stocks offset gains in defensives, led higher by record
earnings from British retailer Tesco Plc <TSCO.L>.
 (Reporting by Chuck Mikolajczak; Editing by Theodore
d'Afflisio and Jeffrey Benkoe)