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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.

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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