* Google shares dip, former CEO to sell nearly half his
* US Airways shares up, AMR merger deal seen near
* Celgene up as regulator approves new drug
* Futures up: Dow 36 pts, S&P 4 pts, Nasdaq 4.25 pts
By Rodrigo Campos
NEW YORK, Feb 11 U.S. stock index futures edged
higher on Monday, suggesting equities will extend multiyear
highs, while low volume and the absence of economic data could
make trading volatile and exaggerate moves.
Upbeat U.S. and Chinese data last week helped extend the
winning streak of the S&P 500 index to six weeks. The benchmark
index is up 6.4 percent so far this year after a steep rally in
January that has stalled as the index nears a record high.
No economic data or major earnings reports are scheduled,
but Federal Reserve Vice Chairwoman Janet Yellen is due to speak
about the economic recovery at 1 p.m. (1800 GMT).
Technical indicators are "looking very good" and could give
the market a floor Monday, according to Peter Cardillo, chief
market economist at Rockwell Global Capital in New York.
He said the market will pay attention to Yellen's speech,
but he doesn't expect any deviation from her traditionally
dovish monetary policy stance.
S&P 500 futures rose 4 points but were slightly 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 rose 36
points, and Nasdaq 100 futures added 4.25 points.
Google shares dipped 0.9 percent in premarket
trading after it said in a filing former chief executive Eric
Schmidt is selling roughly 42 percent of his stake in the
Internet search company, a move that could potentially net him
Celgene Corp shares rose 2.1 percent in premarket
trading to $102.21 after U.S. regulators approved its new drug
for patients with multiple myeloma whose disease has worsened
after being treated with other cancer drugs.
US Airways shares gained 2.9 percent to $15.18 as an
$11 billion merger with AMR Corp appeared closer,
people familiar with the matter said. A combination would create
the world's largest airline by passenger traffic.
Opposition grew to the $24.4 billion buyout of Dell Inc
, the No. 3 personal computer maker, as three of the
largest investors joined Southeastern Asset Management on Friday
in raising objections. Dell said in a regulatory filing it had
considered many strategic options before opting to go private.
The buyout is being led by Chief Executive Michael
Loews Corp could be hit after the hotels, energy and
financial services conglomerate reported a fourth-quarter loss.
CNA Financial Corp, its largest holding, suffered
losses linked to superstorm Sandy.