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Futures Turn Lower as Fears Over Greece Linger

U.S. stock index futures slipped Friday, tracking shares in Europe, as concerns lingered over the euro zone debt crisis in what could otherwise be a light trading day ahead of the Memorial Day weekend.

European shares erased their earlier gainsto turn flat on Friday, as some traders looked to book profits on the back of a two-day rally with fears over Greece still lurking in the background.

Adding to jitters, Spain's Bankia shares were halted ahead of a board meeting to approve a recapitalization plan.

Investors will be closely watching the latest consumer sentiment report from the Thomson Reuters/University of Michigan, due at 9:55 a.m.ET. Economists expect a reading of 77.8, a repeat of the preliminary May reading, according to a Reuters survey.

Morgan Stanley will adjust thousands of trades to ensure outstanding limit orders to sell will be filled at no more than $42.99 a share for Facebook stock from last Friday's botched initial public offering, the firm told its brokers.

VeriFone Systems plunged after the electronic payment technology provider handed in a disappointing third-quarter and full-year guidance.

BlackRock ‘sincreased its stake in Chesapeake Energy to almost 4 million shares from fewer than 1 million shares, sources told CNBC.

Green Mountain Coffee Roasters independent director Douglas Daft resigned from the board this week.

U.S. generic drug maker Mylan settled a patent infringement suit with SunovionPharmaceuticals, a unit of Dainippon Sumitomo Pharma,related to the Japanese drugmaker's bronchitis medicine Brovana.

And PayPal has made deals with 15 retailers including Toys R Us, JCPenney and Barnes &Noble that will allow consumers to pay for purchases with their cellphones while expanding the online payment company's service into additional physical stores.

U.S. markets will be closed Monday for the Memorial Day holiday.

—By CNBC’s JeeYeon Park (Follow JeeYeon on Twitter: @JeeYeonParkCNBC)

Coming Up This Week:

FRIDAY: Consumer sentiment, USDA food prices outlook

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