US STOCKS-Futures edge lower after Dow, S&P hit records

* Existing home sales data on tap

* Goldman cuts Boeing to sell rating

* Valeant, Salix agree to merger deal

* Futures: Dow off 35 pts, S&P off 4 pts, Nasdaq up 1 pt

By Chuck Mikolajczak

NEW YORK, Feb 23 (Reuters) – Dow Futures dipped on Monday, after the Dow and S&P closed at records on the heels of an agreement by euro zone finance ministers to extend Greece’s bailout by four months provided it draws up a list of reforms.

* Greece will present its economic reform plans on Monday to seal the euro zone financial lifeline, but the government drew criticism from a veteran leftist and ruling party member that the deal let voters down. The deal is conditional on Greece’s European and IMF creditors accepting the reform list.

* The equity market gains led each of the three major Wall Street indexes to their third weekly advance on Friday, with the Nasdaq on an eight-session winning streak as it closed in on the 5,000 mark for the first time in nearly fifteen years.

* Existing home sales data is due at 10:00 a.m. (1500 GMT), the first in a flurry of economic reports this week that will help investors gauge the strength of the housing sector.

* Canada’s Valeant Pharmaceuticals International Inc agreed to acquire gastrointestinal drugmaker Salix Pharmaceuticals Ltd in an all-cash deal valued at about $ 10.1 billion, the companies said on Sunday. U.S. listed shares of Valeant gained 6.2 percent to $ 184 while Salix slipped 0.8 percent to $ 156.55 in premarket trading.

* Asahi Kasei Corp, a Japanese chemicals maker, said it would buy Polypore International Inc’s energy storage segment for $ 2.2 billion, as it seeks to expand in the energy and environment business. Polypore shares jumped 13.1 percent to $ 59.90 before the opening bell.

* Home Loan Servicing climbed 7.9 percent to $ 18.09 in premarket after the company agreed to be acquired by New Residential Investment Corp for about $ 1.3 billion. [ID:nASB097HM}

* Dow component Boeing fell 1.8 percent to $ 155.49 after Goldman Sachs cut its rating on the aerospace company to “sell” from “neutral. “

* European shares edged up in the wake of the Greece deal, although a slightly disappointing German business morale survey held gains in check.

* Japan’s Nikkei 225 stock index hit a 15-year high, though MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.3 percent as many countries in the region returned from Lunar New Year holidays.

Futures snapshot at 7:35 a.m. EST (1235 GMT):

* S&P 500 e-minis were down 4 points, or 0.19 percent, with 70,362 contracts changing hands.

* Nasdaq 100 e-minis were up 1 point, or 0.02 percent, in volume of 10,590 contracts.

* Dow e-minis were down 35 points, or 0.19 percent, with 13,272 contracts changing hands.

(Editing by Bernadette Baum)

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