* Cognizant up after board shake-up, capital return plan
* Alaska Air rises on jump in quarterly revenue
* Futures: Dow down 2 pts, S&P down 2.25 pts, Nasdaq up 1 pt
(Adds details, comments, updates prices)
By Yashaswini Swamynathan
Feb 8 U.S. stocks looked set to open little
changed as investors assessed a flood of quarterly earnings, a
day after the Nasdaq closed at a record high.
More than half of the S&P 500 companies have reported
results so far, with their combined earnings estimated to have
risen 8.2 percent - the most in nine quarters.
Key companies scheduled to report results on Wednesday
include life insurer Prudential Financial and grocer
"The market is poised to take its cue from earnings, which,
by the way, have been upbeat and are probably a solid reason for
the market's resilience," Peter Cardillo, chief market economist
at First Standard Financial wrote in a note.
Oil prices fell 0.3 percent, extending losses to the third
day as an increase in U.S. crude inventories and a slump in
Chinese demand implied that global oil markets remain
oversupplied despite OPEC-led efforts to cut output.
The dollar edged up, but gold rose to a three-month high as
political uncertainty ahead of European elections kept the
safe-haven asset in favor.
Dow e-minis were down 2 points, or 0.01 percent at
8:18 a.m. ET (1318 GMT), with 20,765 contracts changing hands.
S&P 500 e-minis were down 2.25 points, or 0.1
percent, with 110,623 contracts traded.
Nasdaq 100 e-minis were up 1 point, or 0.02 percent,
on volume of 20,365 contracts.
Among stocks, Gilead dropped 6.1 percent to $68.70
in premarket trading after the drugmaker projected disappointing
sales for its hepatitis C drugs this year.
Cognizant rose 5.9 percent to $56.95 after the IT
services provider named three directors to its board and
announced a $3.4 billion share buyback program, bowing to
pressure from activist shareholder Elliott Management.
U.S. carrier Alaska Air rose 3.2 percent to $97.16
after the company reported a 10.7 percent jump in quarterly
No key economic report is scheduled for the day.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by