* 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 29 pts, S&P 0.6 pt, Nasdaq 1.5 pts
By Rodrigo Campos
NEW YORK, Feb 11 U.S. stocks were set to open
little changed on Monday as investor scrambled to find catalysts
for trading, while low volume could make trading volatile and
Upbeat U.S. and Chinese data last week helped extend the
winning streak of the S&P 500 index to six weeks. The benchmark
is up 6.4 percent so far this year after a steep rally in
January that has stalled as the S&P and Dow industrials near
No economic data or major earnings reports are scheduled,
but Federal Reserve Vice Chair 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 0.6 point 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
29 points, and Nasdaq 100 futures added 1.6 points.
Google shares dipped 0.8 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 1.7 percent in premarket
trading to $101.80 after U.S. regulators approved its new drug
for patients with multiple myeloma whose condition worsened
after being treated with other cancer drugs.
US Airways shares gained 2 percent to $15.04 as
people familiar with the matter said an $11 billion merger with
AMR Corp appeared closer. The deal 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 in
a buyout led by Chief Executive Michael Dell.
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.