U.S. stock futures down; new home sales data eyed

* U.S. stock index futures pointed to a slightly lower open
on Wall Street on Monday, as investors take a breather following
last week’s strong gains sparked by a flurry of reassuring
company earnings.

* At 0900 GMT, futures for the S&P 500 (SPc1: ) were down 0.2
percent, Dow Jones (DJc1: ) futures were down 0.3 percent, while
Nasdaq 100 (NDc1: ) futures fell 0.1 percent.

* Pharma stocks will be in the spotlight after The Wall
Street Journal reported on Sunday, citing a person familiar with
the matter, that GlaxoSmithKline (GSK.L: ) made a “very casual
approach” to Genzyme Corp (GENZ.O: ) asking to be notified if
Genzyme considered selling itself.

Genzyme jumped 15.4 percent to $62.52 on Friday after French
drugmaker Sanofi-Aventis (SASY.PA: )(SNY.N: ) approached the
biotechnology company about an acquisition.

* European stocks dipped in morning trade, as
GlaxoSmithKline fell 1.8 percent on the report it is eyeing
Genzyme, eclipsing gains in most banking stocks following the
release of the sector’s stress test results, which showed only
seven of 91 banks tested failed the tests. [.EU]

* BP Plc (BP.L: ) (BP.N: ) was up 1.6 percent in London on
expectations the beleaguered company would announce changes at
the top in the next 24 hours, with the anticipated departure of
CEO Tony Hayward, under fire for his handling of the worst oil
spill in U.S. history.

Hayward would be replaced by Bob Dudley, an American
executive who is managing the response operation to the spill in
the Gulf of Mexico, sources close to the British oil major say.

* On the data front, the Federal Reserve Bank of Chicago
releases its Chicago Fed National Activity Index for June, at
1230 GMT; the Commerce Department releases new home sales for
June, at 1400 GMT. Economists in a Reuters survey forecast a
total of 320,000 annualized units in June compared with 300,000
in May.

* On the earnings front, Legg Mason (LM.N: ), Fluor Corp.
(FLR.N: ), Fmc Tech. (FTI.N: ), Lorillard (LO.N: ), Masco (MAS.N: ),
Plum Creek Timber (PCL.N: ) and Range Resources (RRC.N: ) are due to
report results on Monday.

* U.S. stocks (Read more about the stock market today. ) rose on Friday, as GE’s (GE.N: ) dividend hike
boosted investor sentiment, the Dow Jones industrial average
(.DJI: ) gained 102.32 points, or 0.99 percent, to 10,424.62, and
The Nasdaq Composite Index (.IXIC: ) added 23.58 points, or 1.05
percent, to 2,269.47.

* The Standard & Poor’s 500 Index (.SPX: ) rose 8.99 points,
or 0.82 percent, to 1,102.66, closing above the key 1,100 level
for the first time in a month after coming close but failing
four times in July. Friday’s climb — along with other chart
moves such as a key break on the index’s daily moving average
convergence-divergence, or MACD — sent a bullish technical
signal to investors.

Stock Investing

(Reporting by Blaise Robinson; Editing by Sharon Lindores)

U.S. stock futures down; new home sales data eyed