US STOCKS-Futures flat as investors await earnings onslaught

Reuters - UK Focus

* S&P 500 coming off biggest weekly percentage gain since July

* Earnings seen driving trading, dozens of names report this week

* Results from Netflix (NasdaqGS: NFLX - news) expected after the market close

* Futures up: Dow 7 pts, S&P 0.8 pt, Nasdaq 12.25 pts (Updates prices, adds Halliburton (Munich: HAL.MU - news) earnings and report about Pfizer (NYSE: PFE - news) )

By Ryan Vlastelica

NEW YORK (Frankfurt: HX6.F - news) , April 21 (Reuters) - U.S. stock index futures pointed to a flat open on Monday as investors found few reasons to keep buying following a strong rally last week and ahead of a heavy week of corporate earnings.

* The S&P 500 had its best week since July last week, boosted by strong results from such names as General Electric Co and Morgan Stanley (Berlin: DWD.BE - news) . However, thus far the earnings season has been mixed, with technology names like Google Inc (NasdaqGS: GOOG - news) and IBM (NYSE: IBM - news) struggling to impress investors.

* With fewer than one-fifth of S&P 500 companies having reported results so far, about 63 percent have topped earnings expectations, according to Thomson Reuters (Frankfurt: TOC.F - news) data, exceeding the 56 percent average over the past four quarters. About 52 percent have beaten revenue forecasts, about even with the 54 percent average over the past four quarters.

* Hasbro Inc (NasdaqGS: HAS - news) reported adjusted first-quarter earnings that topped forecasts, though revenue was below expectations. Halliburton Co also reported a better-than-expected quarterly profit.

* Advanced Micro Devices (NYSE: AMD - news) rose 9.5 percent to $4.04 in premarket trading. Late Thursday, the last session before the Good Friday trading holiday, the chipmaker posted first-quarter results that beat expectations.

* Perhaps the most eagerly awaited name on Monday is Netflix (Frankfurt: NFC.F - news) Inc, which will report after the market closes. The online movie renter was recently a trading favorite, soaring 300 percent last year as the S&P 500's biggest percentage gainer. The stock, stung by claims it is overvalued, has slumped recently alongside a broader decline in other recently high-flying names. Analysts will look to see whether the results justify its still-elevated price.

* S&P 500 futures rose 0.8 point and were slightly 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 added 7 points and Nasdaq 100 futures rose 12.25 points.

* The S&P 500 and Nasdaq are coming off four-day winning streaks, and investors may look to take profits on any disappointing corporate news.

* Dozens of S&P components will report this week, including such closely watched names as Apple Inc (NasdaqGS: AAPL - news) , Biogen Idec (NasdaqGS: BIIB - news) and Facebook Inc (NasdaqGS: FB - news) . A number of Dow components, including McDonald's Corp, AT&T Inc (NYSE: T - news) , Procter & Gamble and Caterpillar Inc (NYSE: CAT - news) , also report.

* In company news, Britain's Sunday Times reported that Pfizer Inc had approached AstraZeneca (NYSE: AZN - news) to propose a $101 billion takeover, an offer that was reportedly rejected. However, Astra's cancer drug pipeline is still considered a draw for Pfizer. Shares of Pfizer, a Dow component, rose 1.5 percent to $30.70 before the bell while U.S. shares of Astra rose 5.7 percent to $67.11.

* Last week the Dow rose 2.4 percent, the S&P 500 added 2.7 percent and the Nasdaq advanced 2.4 percent. The Dow had its best week since December while the S&P 500 closed out its best week since July. The CBOE Volatility index, a measure of investor anxiety, fell 21.6 percent over the week, its biggest weekly drop since January 2013.

(Editing by Chizu Nomiyama and Nick Zieminski)