(Corrects to show earnings data through Thursday morning, not
* Apple reportedly close to deal for Beats Electronics
* Omnicom Group, Publicis call off merger
* Rocket Fuel plunges after outlook
* Futures off: Dow 27 pts, S&P 3.75 pts, Nasdaq 12.25 pts
By Chuck Mikolajczak
NEW YORK, May 9 U.S. stock index futures edged
lower on Friday, putting the S&P 500 on track to closing a week
of choppy trading with a slight decline, while the Nasdaq is on
pace for its worst weekly decline in four.
* The S&P 500 has alternated between gains and losses
each day this week, and the Nasdaq has dropped for three
straight sessions - its longest losing streak since early April
- amid a rout in Internet-related stocks.
* Apple Inc is close to paying a record $3.2
billion for Beats Electronics, two people with knowledge of the
matter said, an expensive foray into music streaming and
headphone gear. Apple shares were little changed in light
* A proposed $35 billion merger of U.S.-based Omnicom Group
Inc and rival France's Publicis Groupe SA has
been called off due to complex obstacles to molding the
companies into the world's largest advertising agency.
* S&P 500 e-mini futures fell 3.75 points and 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 e-mini
futures lost 27 points and Nasdaq 100 e-mini futures
declined 12.25 points.
* Gap Inc reported a 9 percent increase in
comparable sales for April and the apparel company gave a profit
forecast that surpassed Wall Street expectations. Shares were up
8.5 percent in premarket trading.
* Rocket Fuel Inc, tumbled 29 percent to $19.75 in
premarket trading after the technology provider for Web-based
video advertising forecast current-quarter revenue far below
expectations, prompting downgrades from Goldman Sachs and BMO
* Of 445 companies in the S&P 500 that have reported
earnings through Thursday morning, 68.2 percent beat
expectations, above the 63 percent average since 1994 and the 66
percent beat rate for the past four quarters, according to
Thomson Reuters data.
* Profits are expected to rise 5.3 percent this quarter,
down from 6.5 percent estimated at the start of the year, but
above the low of 0.6 percent in mid-April.
* European shares retreated as a disappointing business
update from leading telecoms group Telefonica sobered
the mood after a rally on the previous day.
* Asian shares were mostly down as a tense situation in
Ukraine made investors cautious.
(Reporting by Chuck Mikolajczak; Editing by Bernadette Baum)