U.S. stock index futures point lower on Japan

* U.S. stock index futures pointed to a lower open on
Tuesday, with futures for the S&P 500 (SPc1: Quote, Profile, Research), Dow Jones (DJc1: Quote, Profile, Research)
and Nasdaq (NDc1: Quote, Profile, Research) down 0.4 to 0.6 percent at 0903 GMT.

* Investors are likely to be cautious after Japan raised the
severity of the nuclear accident to the highest level, putting
it on par with the Chernobyl 1986 disaster. [ID:nL3E7FB2TZ]

* Earnings news will be another focus, following Alcoa Inc
(AA.N: Quote, Profile, Research) reporting revenue that missed forecasts after the bell on
Monday, sending its shares lower in post-market trade, despite
reporting a first-quarter profit above expectations.

* Elsewhere, Chevron Corp (CVX.N: Quote, Profile, Research), the second-largest U.S.
oil company, said first-quarter exploration and production
earnings would be higher than in the previous quarter.

* Brent crude (LCOc1: Quote, Profile, Research) extended overnight losses on concern
high fuel prices will destroy demand and following Goldman Sachs
recommendation on Monday to lock in trading profits.

* Looking at merger and acquisition news, two sources
familiar with the matter told Reuters that Hewlett-Packard Co
(HPQ.N: Quote, Profile, Research) had considered buying business software company Tibco
Software Inc (TIBX.O: Quote, Profile, Research) until two weeks ago when talks fizzled.

* Staff at Taiwan unit Nan Shan Life Insurance Co Ltd have
been urged by American International group Inc (AIG.N: Quote, Profile, Research) to voice
their support for its planned $2.16 billion sale, saying their
silence has allowed “ill-intentioned groups” to create negative
impressions over the much-delayed deal. [ID:nL3E7FC05H]

* A former private equity executive was sentenced to 13
years and four months in prison for his role in a real estate
investment fraud that federal authorities have called a $255
million Ponzi scheme targeting Orthodox Jews [ID:nN11118548]

* The Wall Street Journal reported that the Bank of America
Corp’s (BAC.N: Quote, Profile, Research) internal auditors are reviewing why its chief
financial officer and chief accounting officer were not
consulted before the bank disclosed to investors that its
dividend increase had been rejected by regulators.

* Amazon.com Inc (AMZN.O: Quote, Profile, Research) said it is now offering a version
of its Kindle device for $25 less, but that electronic book
reader will include advertising. [ID:nN11118555]

* U.S. stocks mostly fell on Monday, with energy shares
selling off on lower oil prices and concerns that company
outlooks may fall short of expectations. [ID:nN11111495]

The Dow Jones industrial average (.DJI: Quote, Profile, Research) rose 0.01 percent,
the Standard & Poor’s 500 Index (.SPX: Quote, Profile, Research) fell 0.3 percent and the
Nasdaq Composite Index (.IXIC: Quote, Profile, Research) lost 0.3 percent.

* European shares fell on Tuesday after Japan raised the
severity of its nuclear crisis to a level equal to that of
Chernobyl, the world’s worst nuclear disaster and on earnings
concern after the revenue miss by Alcoa.
(Reporting by Joanne Frearson; Editing by Erica Billingham)

U.S. stock index futures point lower on Japan