Futures rise as media profits lift sentiment

By Ellis Mnyandu

Investors were also poised to scour the market for down-trodden shares a day after mounting fears of a recession sent Wall Street tumbling.

"Beyond financials, earnings seem to be pretty good."

Dow Jones industrial average futures were up 40 points. Nasdaq 100 futures rose 7 points.

The news of the bid would put shares of metals and mining companies, including Alcoa Inc , under the spotlight.

U.S. stocks suffered their biggest drop in nearly a year on Tuesday after data showed the worst monthly contraction in the services sector since the prior U.S. recession in 2001 and Standard & Poor's warned it could cut bank credit ratings.

(Editing by Kenneth Barry)