RPT-US STOCKS-Futures signal losses as Cisco weighs

                                
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 * Tech bellwether Cisco forecasts weak revenue
                                
 * Jobless claims, import-export data on tap
                                
 * Futures off: S&P 6.3 pts, Dow 35 pts, Nasdaq 14.25 pts
                                
 * For up-to-the-minute market news see [STXNEWS/US]
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 By Angela Moon
                                
 NEW YORK, Aug 12 (Reuters) - U.S. stock index futures fell
on Thursday following a steep Wall Street sell-off that erased
gains for the year.
                                
 Concerns over the fragile recovery continued to pressure
investors in the aftermath of the Federal Reserve's gloomier
outlook earlier this week.
                                
 A disappointing revenue forecast from Cisco Systems Inc
<CSCO.O> weighed on the technology sector. John Chambers, the
chief executive, warned of unusual uncertainty in the economy
and forecast revenue that missed Wall Street targets on
Wednesday. The stock was off 7.3 percent at $21.99 in premarket
trade. For details, see [ID:nN11174722]
                                
 The Labor Department is scheduled to release its weekly
report on first-time claims for unemployment benefits at 8:30
a.m. EDT. [1330 GMT] Analysts forecast initial claims declining
to 465,000 from last week's reading of 479,000. The
government's July report on import and export prices is also
due at 8:30 a.m.
                                
 "The market is trying to stabilize after yesterday's sharp
decline, but we are still gripped by the fear factor that the
economy is moving back to recession," said Peter Cardillo,
chief market economist at Avalon Partners in New York.
                                
 S&P 500 futures <SPc1> edged down 6.3 points and were below
fair value, a formula that evaluates pricing by taking into
account interest rates, dividends and time to expiration on the
contract. Dow Jones industrial average futures <DJc1> dipped 35
points, and Nasdaq 100 futures <NDc1> fell 14.25 points.
                                
 All three major indexes recorded their worst percentage
drop since July 16 on Wednesday.
                                
 The S&P 500 will struggle to stay above the July 30 low of
1,088, briefly touched on Wednesday. A breach of that level
takes near-term technical support down to 1,057, which is
roughly 3 percent below the benchmark's close on Wednesday.
                                
 In company news, General Motors Co [GM.UL] posted its
biggest quarterly profit in six years a day ahead of its
expected filing for an initial public offering.
[ID:nN12271372]
                                
 Kohl's Corp <KSS.N> reported better-than-expected earnings
on improved market share after it ramped up exclusive lines,
but its full-year outlook, including the crucial holiday
season, fell short of estimates. [ID:nASA00NDB]
                                
 According to an NBC News/Wall Street Journal poll released
Wednesday, pessimism over the U.S. economy is rising and the
grim mood could hurt both parties in the Nov. 2 Congressional
elections.
                                
 Bookseller Barnes & Noble Inc <BKS.N> is in talks with
Ronald Burkle's investment firm to end the billionaire's
lawsuit and avoid a fight over the company's board, a source
told Reuters. [ID:nN11254982]
                                
 American International Group Inc <AIG.N> has started
negotiations with potential investors to sell stakes in its
Asian life insurance business AIA ahead of a planned IPO,
sources said. [ID:nTOE67B00D]
                                
 Commodity prices and energy stocks declined as investors
turned away from risk-associated assets. U.S. crude oil futures
<CLc1> fell 1.7 percent to $76.70 a barrel, dropping for a
third straight day.
  (Reporting by Angela Moon; editing by Jeffrey Benkoe)