* Obama to focus on economy in State of the Union address
* Goodyear profit tops estimates, but tire company cuts
* Coca-Cola shares dip; emerging markets sales offset Europe
* Futures: Dow up 18 pts, S&P up 0.4 pts, Nasdaq off 1 pt
By Rodrigo Campos
NEW YORK, Feb 12 U.S. stocks were set to open
little changed on Tuesday, hovering near multi-year highs as
traders awaited President Barack Obama's State of the Union
The economy will be one of the main topics of Obama's speech
at 9 p.m. (0200 GMT Wednesday). Investors will listen for any
clues on a deal with Republicans in Congress to avert automatic
spending cuts due to take effect March 1.
"Things are really quiet, waiting to see what the marching
orders are for the next four years," said Kim Forrest, senior
equity research analyst at Fort Pitt Capital Group in
Equities were mostly flat on Monday but the trend for the
S&P 500 has been upward during six straight weeks of gains. The
index has risen 6.4 percent so far this year.
S&P 500 futures added 0.4 point and were slightly
below 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
18 points and Nasdaq 100 futures fell 1 point.
Coca-Cola Co shares dipped 0.5 percent to $38.42 in
premarket trading after the world's largest soft drink maker
reported quarterly earnings that were slightly better than
expected as strength in emerging markets offset a decline in
Avon Products shares jumped 6.8 percent in premarket
trading after the beauty products company reported a
better-than-expected quarterly profit.
Goodyear Tire & Rubber shares fell 4.5 percent in
premarket trading after it posted a stronger-than-expected
quarterly profit but cut its 2013 forecast due to weakness in
the European automotive market.
Michael Kors Holdings shares soared 11.8 percent
before the open after the fashion company handily beat Wall
Street's estimates and raised its full-year outlook.
On Monday, the Dow Jones industrial average fell
21.81 points, or 0.16 percent, to 13,971.16. The S&P 500
dipped 0.92 points, or 0.06 percent, to 1,517.01 and the Nasdaq
Composite edged down 1.87 points, or 0.06 percent, to