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posted: 7/20/2011 7:19 AM

U.S. stock futures up with a new batch of earnings

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Associated Press

NEW YORK -- Stock futures are heading higher a day after the Dow Jones industrial average posted its largest gains this year.

Apple is up 5 percent in premarket trading Wednesday after the company's quarterly net income doubled. Sales of iPhones quadrupled in Asia, helping Apple trump analysts' earnings estimates.

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AMR Corp., the parent of American Airlines, Intel Corp. and American Express Co. are expected to report earnings later Wednesday.

Stronger profits from Coca-Cola and IBM along with apparent progress in raising the U.S. debt limit prompted a stock market rally Tuesday. The Dow gained 202 points, its best day this year.

Before the opening bell, Dow futures are up 67 points at 12,573. S&P 500 futures are up 7 points at 1,328. Nasdaq 100 futures are up 22 points at 2,411.

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