US STOCKS-Futures slightly down after soaring last week on strong jobs data

* Futures down: Dow 7 pts, S&P 1.25 pts, Nasdaq 1 pt

By Tanya Agrawal

May 11 (Reuters) - U.S. stock index futures were slightly lower on Monday after the markets leapt 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.

* 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.

* U.S. stock indexes ended more than 1 percent higher on Friday after data showed that U.S. job growth rebounded last month, suggesting underlying strength in the economy. The unemployment rate dropped to a near seven-year low.

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

* Zulily (NasdaqGS: ZU - news) shares jumped 18.4 percent to $15.75 in premarket trading, after Alibaba bought a 9 percent stake in the online retailer. Alibaba was down marginally at $86.73.

* Actavis (NYSE: ACT - news) rose 3.1 percent to $302 after the drugmaker's revenue jumped almost 60 percent, helped by higher sales of its branded drugs in North America.

* Salesforce down 2.9 percent at $70.26 after Microsoft (NasdaqGS: MSFT - news) said it was currently not weighing an offer for the cloud software maker.

* Noble Energy (NYSE: NBL - news) up 0.3 percent at $49.29 after it said it will buy Rosetta Resources Inc (NasdaqGS: ROSE - news) for about $2 billion in an all-stock deal to enter the Eagle Ford shale field and the Permian basin in Texas.

Futures snapshot at 7:11 a.m. ET (1111 GMT)

* S&P 500 e-minis were down 1.25 points, or 0.06 percent, with 83,222 contracts changing hands.

* Nasdaq 100 e-minis were down 1 points, or 0.02 percent, in volume of 10,237 contracts.

* Dow e-minis were down 7 points, or 0.04 percent, with 13,257 contracts changing hands. (Editing by Saumyadeb Chakrabarty)