NEW YORK (Reuters) - Stock index futures cut gains on Monday as worrying outlook comments from bellwether Caterpillar Inc offset enthusiasm about a multi-billion dollar takeover in the pharmaceutical industry. Caterpillar, a maker of bulldozers and excavators, forecasts 2009 profit to drop significantly from 2008. The company also says it initiated actions which will remove about 20,000 workers from its business.
S&P 500 futures shed 0.20 points, and were below fair value. Dow Jones industrial average futures were up15 points, while Nasdaq 100 futures added 0.25 points. Before CATERPILLAR (CAT.NY)comments, Dow futures had been up more than 40 points.