Stocks poised for gains
Futures rise after Yahoo reports solid quarterly results; investors brace for more earnings, GM global sales.
LONDON (CNNMoney.com) -- Stock futures rose early Wednesday, lifted by solid profit and revenue gains at Yahoo.
At 5 a.m. ET, Nasdaq and S&P futures were lower and indicating gains at the start of trading.
Yahoo (YHOO, Fortune 500), which has until Saturday to accept Microsoft's takeover offer or face a proxy fight, reported late Tuesday profit and sales that topped Wall Street's estimates.
While Yahoo's results were strong, it remains unclear whether Microsoft (MSFT, Fortune 500) will be swayed to raise its offer. If it doesn't, the takeover battle could turn ugly.
Another wave of corporate earnings are on tap. Delta (DAL, Fortune 500), Boeing (BA, Fortune 500) and UPS (UPS, Fortune 500) are among the firms due to report before the market open. In the tech sector, Apple (AAPL, Fortune 500) and Amazon.com post after the closing bell.
GM is due to release its first-quarter global sales, also before the market open. Detroit's Big 3 automakers have been battered by slumping sales and are expected to rack up more losses this year.
Oil prices held above $118 a barrel in electronic trading. The front-month crude contract neared $120 a barrel during Tuesday's session.
In global trade, Japan stocks gained, led by oil firms. Major markets in Europe edged higher in early trading. 
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