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Stock futures mixed as "cliff" and Apple eyed

Stock futures were mixed on Monday as "fiscal cliff" negotiations saw their first real movement over the weekend, but Apple was likely to weigh on the market.

* Apple Inc was down 1.6 percent at $501.50 as Citigroup cut its rating to 'neutral' from 'buy' and slashed its price target to $575 from $675. The stock had earlier been indicated to open below $500, which would be the first time since February.

* Sprint Nextel Corp said it would buy Clearwire for $2.97 a share.

* American International Group Inc may raise as much as $6.5 billion from the sale of its remaining stake in AIA Group Ltd, exiting a business the U.S. insurer started nearly 100 years ago.

* Networking equipment company Cisco Systems Inc has hired Barclays to sell its Linksys home router unit, a report said on Sunday.

(Reporting by Leah Schnurr; Editing by Chizu Nomiyama)