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US STOCKS-Futures climb on earnings lift, durable goods on tap

* Durable goods data due at 8:30 a.m. EDT

* P&G slips, Boeing gains after earnings

* Futures up: Dow 38 pts, S&P 2.6 pts, Nasdaq 2.5 pts

By Chuck Mikolajczak

NEW YORK, April 24 (Reuters) - U.S. stock index futures rose modestly on Wednesday, indicating the S&P 500 may rise for a fourth straight day, as investors dealt with a host of corporate earnings reports ahead of the release of durable goods data.

Boeing Co jumped 3.3 percent to $91.10 in premarket trading after the aerospace giant reported first-quarter earnings.

But fellow Dow component Procter and Gamble Co slipped 2.2 percent to $80.75 in premarket trading after reporting third-quarter results and issuing a profit outlook for the current quarter that fell short of Wall Street's expectations.

Investors were looking ahead to the release of durable goods orders data at 8:30 a.m. (1230 GMT). Economists surveyed by Reuters expect a 2.8 percent drop in March orders compared with a 5.6 percent rise in February.

"Earnings continue to surprise to the upside for the most part so enthusiasm for earnings continues to grow, but we do have durable goods that are coming out and I suspect that will solidify the weakening economic trend that we have been seeing," said Peter Cardillo, chief market economist at Rockwell Global Capital in New York.

"I wouldn't be a bit surprised to see weak durable goods orders bite into some of the earnings enthusiasm."

Ford Motors Co advanced 0.5 percent to $13.42 in trading before the opening bell after the automaker posted a higher-than-expected first-quarter profit as its North American unit posted its best quarter in more than a decade.

Eli Lilly and Co rose 1.4 percent to $59.15 in light premarket trading after the drugmaker reported higher-than-expected first-quarter earnings, helped by favorable taxes and higher sales of treatments for diabetes, depression and lung cancer.

According to Thomson Reuters data, 45 companies in the S&P 500 are scheduled to report results Wednesday, including Dow component Boeing Co, Qualcomm Inc and Dr. Pepper Snapple Group Inc.

Apple Inc shares shed 2.7 percent to $395.26 after the iPad maker bowed Tuesday to investors' demands to share more of its $145 billion cash pile, while posting its first quarterly profit decline in more than a decade.

S&P 500 futures rose 2.6 points and were 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 gained 38 points, and Nasdaq 100 futures added 2.5 points.

Earnings season has been largely positive, with more than 68.9 percent of S&P 500 companies that have reported results so far beating expectations, according to Thomson Reuters data through Tuesday morning. Since 1994, 63 percent have surpassed estimates on average, while the beat rate is 67 percent for the past four quarters.

Analysts see earnings growth of 2.3 percent this quarter, up from expectations of 1.5 percent at the start of the month.

OPKO Health Inc will buy Israel-based biopharmaceutical company Prolor Biotech Inc in an all-stock deal valued at $480 million to expand its portfolio of specialty drugs. OPKO shares dipped 2.1 percent to $6.91 in premarket trading.

European shares advanced, building on the previous session's hefty gains, after the German Ifo survey came in well below forecasts, adding to expectations of more monetary easing.

Asian shares advanced, tracking global equities higher on the back of solid U.S. corporate earnings.