US STOCKS-Futures edge lower after Citigroup results

Reuters

* Citigroup adjusted profit hit by bond trading slowdown;shares dip in premarket

* U.S. senators hint at possible fiscal deal on Tuesday

* Burberry names Bailey CEO as Ahrendts quits for Apple

* Futures mixed: Dow up 10 pts, S&P down 1.5 pts, Nasdaq up5.75 pts

By Angela Moon

NEW YORK, Oct 15 (Reuters) - U.S. stock futures edged loweron Tuesday after Citigroup reported a marginal fall in adjustedquarterly profit from ongoing businesses after the FederalReserve's decision to continue its bond-buying program forlonger than expected slowed trading by clients.

* Citigroup shares were off 1.6 percent at $48.80 inpremarket trade. The bank's third-quarter net income, adjustedfor certain items, slipped to $3.26 billion, or $1.02 per share,from $3.27 billion, or $1.06 per share a year earlier.

* Futures were initally higher prior to Citigroup results onsigns of progress in Washington toward a deal to reopen thegovernment and lift the debt ceiling as the Oct 17 deadlineapproaches.

* In a busy day of earnings, companies that are due toreport are Yahoo! Inc and Intel Corp after thebell.

* Coca-Cola Co reported higher quarterly earnings andlower revenue on Tuesday, helped by strong global sales of itsCoca-Cola brand products but challenged by volatility in someparts of Europe. The stock was up 1.1 percent at $38.33.

* In economic news, the New York Federal Reserve's EmpireState Manufacturing survey is due at 8:30 a.m. ET (1230 GMT).

* A month of combat in the U.S. Congress over governmentspending showed signs late Monday of giving way to a Senate dealto reopen shuttered federal agencies and prevent an economicallydamaging default on federal debt.

* Senate Majority Leader Harry Reid, a Democrat, and hisRepublican counterpart, Mitch McConnell, ended a day of constanttalks with optimistic proclamations, as details leaked out ofthe pact they were negotiating.

* Christopher Bailey, the designer credited with restoringthe cachet to fashion brand Burberry, is to becomechief executive next year when long-standing boss AngelaAhrendts will move to Apple.

* Ahrendts, who has been Burberry boss for eight years,during which time its share price has soared about 250 percent,will take up a newly created position at Apple as a senior vicepresident with oversight of retail and online stores. She willreport directly to CEO Tim Cook.

* Shares of Teradata Corp fell nearly 16 percent inpremarket trade, a day after plunging 110 percent late Mondayafter the data analytics firm cut its full-year earningsforecast by about 10 percent.

* S&P 500 futures lost 1.5 points and were slightlybelow fair value, a formula that evaluates pricing by takinginto account interest rates, dividends and time to expiration onthe contract. Dow Jones industrial average futures rose10 points while Nasdaq 100 futures added 5.75 points.

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