* Eli Lilly ordered to pay $3 bln in damages in Actos case
* Alcoa earnings due after the close
* Futures up: Dow 10 pts, S&P 1.5 pts, Nasdaq up 9.5 pts
By Chuck Mikolajczak
NEW YORK, April 8 U.S. stocks were set to open
slightly higher on Tuesday, putting the S&P on track to halt a
three-session selloff, as investors look to the start of
corporate earnings season.
* The S&P 500 suffered its biggest three-day drop in two
months and the Nasdaq posted its worst three-day decline since
November 2011 on Monday as investors bid down Internet stocks
and rotated into defensive names.
* The recent slump has pushed the Dow, Nasdaq
and S&P 500 into negative territory for the year.
* Earnings season gets under way this week, with results due
from companies including Alcoa Inc after the close,
retailer Bed, Bath & Beyond on Wednesday, while
financials JPMorgan Chase & Co and Wells Fargo & Co
close out the week with results on Friday.
* S&P 500 companies' first-quarter earnings are projected to
have increased just 1.1 percent from a year ago, Thomson Reuters
data showed. The forecast is down sharply from the start of the
year, when profit growth was estimated at 6.5 percent.
* A lackluster first-quarter earnings season hurt by a harsh
winter could spark a pullback, some analysts said, with
investors expressing optimism for the second quarter as weather
* S&P 500 e-mini futures gained 1.5 points and were
slightly above 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
advanced 10 points and Nasdaq 100 futures rose 9.5
* A U.S. jury ordered Takeda Pharmaceutical Co Ltd
to pay $6 billion in punitive damages and Eli Lilly and Co
to pay $3 billion in a case claiming that cancer risks
to the diabetes drug Actos were concealed, the plaintiffs'
lawyer said. Eli Lily shares lost 1.6 percent to $57.70 before
the opening bell.
* Gigamon Inc slumped 22.4 percent to $20.33 in
premarket trade after the maker of network traffic management
software, estimated lower-than-expected first-quarter revenue.
* Alkermes Plc said its experimental drug to treat
the symptoms of schizophrenia met the main goal in a late-stage
study. Its shares gained 7.1 percent to $44 in premarket.
* Citigroup Inc edged up 0.2 percent to $46.63 in
premarket. The bank said it would pay $1.12 billion in cash to
settle legacy securities and other claims and incur a related
charge of $100 million in the first quarter.
(Reporting by Chuck Mikolajczak; Editing by Nick Zieminski)