Stocks Seen Higher at Open; Amex on Tap By Michael Flaherty NEW YORK (Reuters) - U.S. stock futures pointed to a higher market open on Monday, bouncing back from fresh 2005 lows hit on Friday, as investors buy up beaten down shares and expect strong earnings American Express Co. (AXP.N: Quote , Profile , Research ) . Station Casinos Inc. (STN.N: Quote , Profile , Research ) , a Las Vegas casino operator, posted a fourth-quarter profit, reversing a year-earlier loss, while Pilgrim's Pride Corp. (PPC.N: Quote , Profile , Research ) , the No. 2 U.S. poultry producer, said quarterly earnings rose nearly five-fold due to lower feed costs and an acquisition late in 2003. Aside from earnings, the Wall Street Journal reported that directors of Hewlett-Packard Co. (HPQ.N: Quote , Profile , Research ) , unhappy with the uneven performance of the printer and computer maker, are considering a management reorganization that would distribute some key day-to-day responsibilities of Chairman and Chief Executive Carly Fiorina among other executives. S&P 500 futures (SPH5: Quote , Profile , Research ) rose 2.8 points, above fair value accounting for interest rates, dividends and time to expiration on the contract, indicating the market would open higher. Dow Jones industrial index futures (DJH5: Quote , Profile , Research ) were up 17 points, while Nasdaq 100 (NDH5: Quote , Profile , Research ) futures climbed 4 points higher. "I think a lot of people are looking at the market action, and wondering how we're down three weeks in a row," said Art Hogan, chief market strategist at Jefferies & Co. "So I think you have some bargain hunters out this morning in what appears to be an oversold stock market. There is also anticipation of some good earnings from American Express." The credit card company and Dow component reports its quarterly results around 1:15 p.m. (1815 GMT). Oil prices resumed their rise on Monday, climbing 50 cents to $49.03 in electronic trading. Rising oil prices raises concerns that higher energy costs will pinch corporate profits and curb consumer spending. In the auto sector, Italy's Fiat (FIA.MI: Quote , Profile , Research ) said it will not exercise an option to sell its car unit to General Motors Corp. (GM.N: Quote , Profile , Research ) for at least another nine days, to give the groups more time to settle a spat over its validity. In the media sector, the Wall Street Journal reported that federal U.S. antitrust enforcers are investigating plans by Gannett Co. Inc. (GCI.N: Quote , Profile , Research ) and New York Times Co. (NYT.N: Quote , Profile , Research ) to acquire or invest in local rivals, signaling continued concern about consolidation in the newspaper business. International Business Machines (IBM.N: Quote , Profile , Research ) will be in the spotlight after Bloomberg reported on Sunday that Big Blue's $1.25 billion deal to sell its PC business to China's Lenovo Group (0992.HK: Quote , Profile , Research ) , may be running into trouble over U.S. security concerns. On Friday, the Dow Jones industrial average was down 78.48 points, or 0.75 percent, to end at 10,392.99. The Standard & Poor's 500 Index was down 7.54 points, or 0.64 percent, to finish at 1,167.87, based on the latest data. The Nasdaq Composite Index was down 11.61 points, or 0.57 percent, to close at 2,034.27. (Additional reporting by Huw Jones in London Quelle "Stocks Seen Higher at Open; Amex on Tap" : reuters.com Main page for "Stocks Seen Higher at Open; Amex on Tap"