Oh, a bit more than suspicious.
There is some malware in your system hiding behind svchost.exe and using it to send spam email. It does not succeed in all the messages it is trying to send … but enough to serve the purposes of infecting your system.
These spambots can often be quite hard to detect and this one is hiding behind a valid workhorse of the Windows system (svchost.exe).
Free scans such a Ewido (now AVG) and Panda come to mind. They may show nothing. A hijack this log may well show a malicious startup entry in your system that initiates the malware process.
