* Microsoft, Google tumble after results miss
* Investors could take profit after record highs on Dow, S&P
* Futures: S&P up 1.2 pts, Dow dn 11 pts, Nasdaq dn 1.5 pts
NEW YORK, July 19 (Reuters) - U.S. stock index futures were
mixed on Friday, after the Dow and S&P 500 closed at record
highs a day earlier, in the wake of disappointing results from
tech giants Microsoft and Google.
* Shares of Microsoft and Google were
lower in premarket trading after the results of both, announced
after the close of trading Thursday, fell short of expectations.
Microsoft was down 7.2 percent, while Google tumbled 3.5
* Also in the tech sector, Advanced Micro Devices
slumped 8.2 percent after the company said gross margins would
fall, even as the chip maker forecast stronger-than-expected
revenue growth in the third quarter.
* Analysts expect S&P 500 companies' second-quarter earnings
to have grown 3.5 percent from a year earlier, with revenue up
1.1 percent, according to Thomson Reuters data.
* So far, 70.4 percent of companies that have reported
results have surpassed analysts' earnings expectations, while
49.4 percent have topped revenue views.
* S&P 500 futures added 1.2 points but were 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 slipped 11
points, and Nasdaq 100 futures were off 1.5 points.
* Without fresh economic data on tap, investors may consider
the high-profile earnings disappointments an incentive to lock
in profit, with the Dow and S&P sitting at record closing highs.
The benchmark S&P is up more than 18 percent for the year.
* Shares of Schlumberger and General Electric
both rose after reporting results Friday. Schlumberger gained
2.3 percent, while GE added 2 percent.