Stock futures drop ahead of busy earnings week

Friday, July 15, 2011, Vol. 35, No. 28

NEW YORK (AP) — Stock futures are falling ahead of a busy week for corporate earnings reports.

Toy maker Hasbro Inc., newspaper chain Gannett Co. Inc. and broker Charles Schwab Corp. report on Monday. Hasbro said net income rose in the second quarter on stronger sales of Transformers action figures and other products.

IBM Corp. reports after the close of trading. More than 100 of the companies in the S&P 500 index are set to release second-quarter results this week.

Ahead of the opening bell, Dow futures are down 95 points, or 0.8 percent, at 12,357. S&P 500 futures are down 11, or 0.9 percent, at 1,309. Nasdaq 100 futures are down 20 or 0.9 percent, at 2,335.