* Dollar Tree offers to buy Family Dollar for $9.2 bln
* June pending home sales on tap, seen rising 0.5 pct
* S&P 500 less than 1 percent from intraday record
* Futures up: Dow 1 pt, S&P 0.5 pt, Nasdaq 5.5 pts
(Updates prices, adds Zillow acquisition)
By Ryan Vlastelica
NEW YORK, July 28 U.S. stock index futures
pointed to a flat open on Monday as investors looked ahead to
the latest economic data and corporate earnings to give
direction to a market near record levels.
* While merger and acquisition activity supported the
market, there have been a number of high-profile earnings
disappointments this quarter, including from Amazon.com
and Caterpillar last week. The results pointed to weak
conditions for market-moving bellwethers, even as more companies
than usual have beaten analyst expectations for both earnings
and revenue this quarter.
* The S&P 500 ended at a record Thursday but fell on Friday,
pressured by Amazon's and Visa Inc's weak results. The
benchmark index is less than 1 percent from an all-time intraday
record, and on Friday, found support at its 14-day moving
average, suggesting a recent positive trend in equities remains
* Dollar Tree Inc offered to buy Family Dollar
Stores Inc for about $9.2 billion, or $74.50 per share
in cash and stock. Shares of Family Dollar jumped 22 percent to
$74 in light premarket trading while Dollar Tree was up 3.7
percent to $56.24.
* Zillow Inc agreed to buy Trulia Inc for
$3.5 billion in stock. Shares of Trulia jumped 16 percent to
$65.41 before the bell while Zillow fell 3.1 percent to $153.90
after being halted earlier.
* S&P 500 e-mini futures rose 0.5 point and were
about even with 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 rose 1 point and Nasdaq 100 e-mini futures
rose 5.5 points.
* Investors were looking ahead to pending home sales, due at
10:00 a.m. (1400 GMT). Sales are seen rising 0.5 percent in
June, compared with a rise of 6.1 percent in May. Last week,
June new home sales fell 8.1 percent, the biggest drop in almost
* Financial data firm Markit will release its preliminary
July read on the U.S. services sector at 9:45 a.m. That is seen
falling to 59.8 from 61 in June. Later this week will see the
release of data on second-quarter gross domestic product, as
well as the July payroll report.
* Cisco Systems Inc shares dipped 0.8 percent to
$25.75 before the bell. On Sunday, Pacific Crest downgraded the
stock to "sector perform" from "outperform."
* El Pollo Loco Holdings Inc, a restaurant chain
which went public on Friday, continued the strength of its
trading debut, to rise 8.6 percent to $26.10 in premarket
(Editing by Bernadette Baum and Nick Zieminski)