* Dow, S&P set for down week after three weeks of gains
* Intel up on outlook, OpenTable soars on Priceline deal
* Oil remains in focus as Iraq violence continues
* Futures down: Dow 27 pts, S&P 2.5 pts, Nasdaq 1.5 pts
(Adds OpenTable acquisition)
By Ryan Vlastelica
NEW YORK, June 13 U.S. stock index futures
pointed to a slightly lower on Friday as some positive corporate
news supported markets, though ongoing violence in Iraq gave
* While both the Dow and S&P hit record highs this week,
Wall Street has lately been pressured by concerns of slowing
global growth and violence in Iraq, which has taken oil prices
to their highest since September. The Dow and S&P 500 are
on track for their first weekly decline after three consecutive
weeks of gains.
* The S&P has fallen for three straight days, its longest
streak of declines since early April. However, it has dropped
just 1.1 percent over that period, and many view the market's
recent trend upward as intact.
* Intel Corp shares jumped 4.7 percent to $29.27 in
heavy premarket trading a day after the Dow component raised its
full-year revenue outlook, citing stronger-than-expected demand
for personal computers used by businesses.
* OpenTable Inc jumped 46 percent to $103.10 in
heavy premarket trading after Priceline Group Inc said
it would buy the company for $2.6 billion. Priceline shares rose
0.7 percent to $1,235 before the bell. Among
other Internet names, Yelp Inc jumped 11 percent to
$73.01 and GrubHub Inc rose 7.7 percent to $36.25.
* S&P 500 futures fell 2.5 points and were 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 fell 27
points and Nasdaq 100 futures slid 1.5 points.
* For the week, the Dow is down 1.1 percent, the S&P is down
1 percent, and the Nasdaq is down 0.6 percent. The Dow and S&P
have risen for three straight weeks; Nasdaq has risen for four.
* The CBOE Volatility index is up 10.2 percent on the
week, its first weekly rise following eight weeks of declines.
Despite the spike, the so-called 'fear index' remains well below
its historical average.
* Oil rose 0.2 percent to $106.78 per barrel. While the
price of oil has spiked 2.3 percent over the past three days,
most analysts said it would need to be sharply above $115 per
barrel for a protracted period before it becomes a major
headwind to economic growth. Still, energy companies may attract
more action as prices fluctuate.
* In Iraq, Islamist rebel fighters captured two more towns
overnight as they moved toward Baghdad. U.S. President Barack
Obama responded by threatening military strikes, adding to the
market's geopolitical concern; selling accelerated on Thursday
after his comments.
* Finisar Corp plunged 22 percent to $19.74 in
premarket trading a day after forecasting weaker-than-expected
earnings, citing higher capital expenditure in China.
(Editing by Bernadette Baum and Nick Zieminski)