Stock futures little changed after soaring last week on strong jobs data

(Reuters) - U.S. stock index futures were little changed on Monday after the market surged on Friday on strong jobs data that showed the U.S. economy was picking up steam, but not by enough to raise concerns about an earlier-than-expected interest-rate rise.

U.S. stock indexes ended more than 1 percent higher on Friday after data showed that U.S. job growth rebounded last month and the jobless rate dropped to a near seven-year low.

"There will be some carry-over from the positive jobs report but not at the same magnitude," said Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia.

European markets were under pressure as euro zone finance ministers met to discuss a cash-for-reforms deal for Greece, which faces a series of debt repayments this week.

Asian shares rose as investors cheered China's third rate cut in six months.

S&P 500 e-mini futures were up 0.75 points and their fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract, indicated a modestly higher open.

Dow Jones industrial average e-mini futures <1YMc1> were up 8 points and Nasdaq 100 e-mini futures were up 4.75 points.

Rosetta Resources soared 28.8 percent to $24.89 in premarket trading after Noble Energy said it would buy the company for about $2 billion in an all-stock deal. Noble shares down 5 percent at $46.70.

"This is a fertile environment for M&A activity, where low cost to capital is probably going to pull forward more deals," said Luschini.

Endo International rose 9.1 percent to $94.95 after it bought a broad portfolio of branded and generic products from Aspen Holdings.

Mergers and acquisitions this year reached their highest first-quarter level since 2007 with announced deals worth a total of $811.8 billion in the quarter, up 21 percent year-on-year, Thomson Reuters data showed.

Zulily shares jumped 18.6 percent to $15.78 after Alibaba bought a 9 percent stake in the online retailer. Alibaba was down 0.6 percent at $86.57.

Actavis rose 3.7 percent to $303.02 after the drugmaker's revenue jumped almost 60 percent, helped by higher sales of its branded drugs in North America.

Dish Network inched up 0.3 percent to $67.05 after it reported a 3.6 percent rise in revenue as it earned more per user in its core pay-TV business.

(Editing by Saumyadeb Chakrabarty)

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