US STOCKS-Futures flat as oil offsets possible GE spinoff

*Futures flat, rising oil offsets possible GE spin-off

*A number of Fed officials due to speak in Chicago

*Data includes Philly Fed, jobless claims, industrial output

By Kristina Cooke

NEW YORK, May 15 (Reuters) - U.S. stock index futures were little changed on Thursday as reports of a possible spin-off at General Electric (GE.N: Quote, Profile, Research, Stock Buzz) offset rising oil prices.

In addition, investor Carl Icahn has elected to move ahead with plans to run a dissident board slate at Yahoo, sources familiar with the matter said. Shares of Yahoo rose 2.2 percent to $27.75 after the bell on Wednesday.

General Electric Co (GE.N: Quote, Profile, Research, Stock Buzz) may sell its appliance unit in an auction that could bring in $5 billion to $8 billion, The Wall Street Journal reported on its Web site on Wednesday. GE shares also edged higher.

The price of oil rose and was near $125 a barrel, raising concerns about inflation and the impact on consumer spending. UBS bank sharply raised its projection for oil prices and said inflation risks from rising crude costs would put a global economic recovery in 2009-2010 at risk.