Stock futures lower ahead of Citigroup results

By @ibtimes on

U.S. stock index futures fell on Monday before a raft of corporate earnings, including Citigroup, while Greek debt concerns continued to cloud the global economic picture.

* Citigroup Inc , off 0.9 percent to $4.38 before the opening bell, is expected to report a drop in quarterly profit and revenue on Monday, as an uncertain trading environment and weak consumer loan demand hinder its efforts to move past the financial crisis. During the week of April 18, 110 S&P 500 companies are expected to report earnings.

* Halliburton Co , the world's No. 2 oilfield services company, advanced 2.8 percent to $48.15 in premarket trading after posting first-quarter results.

* Eli Lilly & Co climbed 1.7 percent to $36.62 after the drugmaker reported better-than-expected first-quarter sales and earnings, fueled by overseas sales of its prescription medicines.

* Also due to report results on Monday is Texas Instruments .

* Athens repeated it has no plans to restructure its debt, denying a Greek media report it had already requested talks with its lenders as mounting speculation that it would need to cut a deal hit debt markets and the euro.

* China raised banks' required reserves for the fourth time this year on Sunday, stepping up efforts to fight high inflation in the world's second-largest economy.

* S&P 500 futures fell 9 points and 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 fell 74 points and Nasdaq 100 futures fell 15.25 points.

* Healthcare stocks will be in the spotlight after Swiss medical device maker Synthes confirmed it is in merger talks with Johnson & Johnson . Reports said the U.S. company was in talks to buy it for about $20 billion. J&J shares edged up 0.7 percent to $60.97 in light premarket trade.

* NYSE Euronext would likely want Nasdaq OMX Group to offer a massive fee to guarantee that its takeover bid will pass antitrust regulatory muster before the NYSE is willing to engage in deal talks, two sources with knowledge of the matter said.

* European shares extended losses, with a key index slipping into negative territory for the year, as growing concerns over debt troubles in the euro zone periphery prompted investors to shun risky assets. <.EU>

* Stocks in Asia ex-Japan remained flat, with investors unconvinced that China's latest moves to cool its economy would hurt the global recovery.

* Encouraging economic indicators sent U.S. stocks higher on Friday but the S&P 500 fell for a second straight week, and some in the market pointed to strong resistance building around 1,340.

(Reporting by Chuck Mikolajczak; Editing by Kenneth Barry)

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