U.S. equity-index futures gained, signaling stocks may rebound from near the lowest levels in about a year, after companies from Cisco Systems Inc. to News Corp. reported better-than-estimated earnings.

Cisco, the world’s largest maker of networking equipment, exceeded analyst’s profit estimates after cutting costs and focusing on high-margin routers and switches. News Corp., owner of Fox TV, raised its dividend 27 percent. Macy’s Inc., the second-biggest U.S. department-store chain, boosted its full- year earnings forecast as sales increased.

S&P 500 futures expiring in September added 1.1 percent to 1,135.50 at 12:16 p.m. in Hong Kong, indicating the U.S. equity benchmark may rebound from yesterday’s 4.4 percent slump. Dow Jones Industrial Average futures climbed 110 points, or 1 percent, to 10,835. Contracts on the U.K.’s FTSE 100 Index climbed 1.3 percent to 5,057.

“Earnings look very good,” Brian Jacobsen, chief portfolio strategist at San Francisco-based Wells Fargo Funds Management, which manages $228 billion, said in a Bloomberg Television interview. “The vast majority of them are beating estimates, but the market has been so volatile.”

The Dow fell to the lowest level since September yesterday, as banks slumped on concern that Europe will fail to contain its debt crisis and that the economy is faltering. The S&P 500 has dropped 18 percent from this year’s high on April 29 through yesterday.

Cisco rose as much as 13 percent after the close of U.S. exchanges yesterday, the first time in six quarters that the shares gained after results. Profit, excluding some costs, was 40 cents a share in the fiscal fourth quarter, the company said yesterday. Analysts on average had predicted 38 cents, according to Bloomberg data.

News Corp. said operating income rose 8.9 percent to $982 million, or 35 cents a share, in the fourth quarter ended June 30. Excluding items, analysts were predicting profit of 30 cents, the average of estimates compiled by Bloomberg.

Macy’s reported that full-year adjusted earnings per share will be as much as $2.65, up from a previous forecast of a maximum of $2.45.

“Corporate earnings continue to be strong, therefore it’s been oversold and valuations are looking better,” said Lee King Fuei, a Singapore-based fund manager at Schroders Plc, which oversaw $323 billion as of March 31. “People have been trying to buy on dips.” (Bloomberg)