U.S. stock index-futures were little changed, after equity benchmarks rose to their highest level in two weeks, as investors weighed earnings reports from companies including Cisco Systems Inc. (CSCO) and Kohl’s Corp. (KSS) Cisco declined 1 percent in pre-market New York trading after its first-quarter profit forecast disappointed some analysts. Amgen Inc. slipped 1.9 percent in Germany after saying a late-stage trial of its bone-marrow-cancer treatment failed to reach its goal. Kohl’s added 1.8 percent after quarterly earnings beat estimates. Aspen Technology Inc. (AZPN) rose 3.1 percent after increasing its profit forecast for this financial year. Standard & Poor’s 500 Index futures expiring next month added 0.1 percent to 1,946.8 at 7:33 a.m. in New York. Futures earlier rose as much as 0.2 percent as Vladimir Putin said Russia will do everything it can to stop the conflict in eastern Ukraine. Dow Jones Industrial Average contracts added 15 points, or 0.1 percent, to 16,634 today. “Maybe most of the earnings growth was already priced in for this quarter,� Jonathan Aldrich-Blake, a U.S. equity fund manager at Ashburton Investments, said by phone from Jersey in the Channel Islands. “Some decent company reports aren’t being rewarded and even big beats are not enough to push the market much higher. But we’re not going lower either. The S&P 500 hasn’t seen a 10 percent correction in a long time. We’re in a period of extremely low volatility, and you wonder whether there’s a shock coming.� The Chicago Board Options Exchange Volatility Index, a measure of market anxiety, completed its longest losing streak since May yesterday. The VIX has fallen 6 percent this year. Ukraine Conflict The S&P 500 reached a record on July 24 before sliding as much as 3.9 percent as President Barack Obama authorized air strikes against militants in Iraq and concern grew that fighting in Ukraine would disrupt world trade. The gauge closed 2.1 percent below its all-time high yesterday. About 75 percent of the S&P 500-listed companies that have posted results this season have beaten analysts’ estimates, while 65 percent have exceeded sales projections, data compiled by Bloomberg show. Profit for members of the equity benchmark probably climbed 9.7 percent in the second quarter, while sales increased 4.3 percent, according to analysts’ estimates compiled by Bloomberg. The S&P 500 trades at 16.3 times the projected earnings of its members, down from a multiple of 16.7 in July. Cisco Slides Cisco slipped 1 percent to $24.95. The world’s largest networking-equipment maker forecast adjusted earnings of 51 cents to 53 cents a share, compared with the 53-cent average analyst projection. Cisco will also take a charge of as much as $700 million to cut 6,000 jobs. Amgen, the world’s largest biotechnology company, fell 1.9 percent to $124.97. Amgen’s Onyx Pharmaceuticals Inc. subsidiary said in a statement that its treatment failed to increase survival rates in patients with multiple myeloma. American Homes 4 Rent declined 2.7 percent to $17.50 in early New York trading after offering 13 million new shares. The daughter of Chairman Bradley Wayne Hughes will buy $50 million at the public offer price, the company said. Kohl’s advanced 1.8 percent to $56.10. The department-store chain posted second-quarter profit of $1.13 per share, more than the $1.07 projected by analysts. Aspen Technology rose 3.1 percent to $47.32 in Germany after forecasting adjusted earnings of as much as $1.24 a share for the year ending June 2015. The maker of software for manufacturing companies said on April 29 that annual profit would probably not exceed $1.19 a share. Analysts had predicted $1.15 for the period. A Labor Department report at 8:30 a.m. Washington time may show applications for unemployment benefits rose last week to 295,000 from 289,000 in the preceding period, economists predicted. The four-week average has fallen to its lowest level since February 2006. To contact the reporter on this story: Sofia Horta e Costa in London at shortaecosta@bloomberg.net To contact the editors responsible for this story: Cecile Vannucci at cvannucci1@bloomberg.net Will Hadfield

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