Stock futures mixed as "cliff" and Apple eyed

Published December 17, 2012

| Reuters

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)