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US futures edge up on strong corporate earnings

Published: March 22, 2013 Comment on this article

NEW YORK (AP) — Stock futures are being pushed higher as surprisingly strong earnings from U.S. corporations overshadow the ongoing economic tumult in Europe.

photo - In this Friday, March 15, 2013, photo, Trader Richard Scardino, right, uses his handheld device as he works on the floor of the New York Stock Exchange. World markets were lower Friday March 22, 2013 because of uncertainty over the restructuring of troubled banks in Cyprus. (AP Photo/Richard Drew)

In this Friday, March 15, 2013, photo, Trader Richard Scardino, right, uses his handheld device as he works on the floor of the New York Stock Exchange. World markets were lower Friday March 22, 2013 because of uncertainty over the restructuring of troubled banks in Cyprus. (AP Photo/Richard Drew)

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Dow Jones industrial futures are up 39 points to 14,386. The broader S&P futures have added 3.8 points to 1,542.90. Nasdaq futures are up 7.5 points to 2,777.25.

Darden Restaurants, which owns the Olive Garden and Red Lobster chains, beat Wall Street expectations for the quarter Friday, as did the luxury retailer, Tiffany.

Shares of Nike are up more than 8 percent in premarket dealings after the company said late Thursday that third-quarter profits spiked 55 percent.

Markets overseas are flat or falling, with a deadline to reach a deal to bailout Cyprus now just three days away.

Japanese stocks tumbled after the country's new central bank chief delivered his first speech.