* EMC shares rise after Dell offer; VMware falls
* Energy sector down as crude prices slip
* Lilly sinks after experimental heart drug scrapped
* Indexes: Dow up 0.14 pct, S&P down 0.06 pct, Nasdaq up 0.01 pct (Updates prices)
By Abhiram Nandakumar
Oct 12 (Reuters) - U.S. stocks were little changed in muted trading on Monday as investors paused before a busy week of quarterly results from U.S. banks and several Dow 30 companies.
Gains were limited by a drop in energy stocks as oil prices fell. The energy sector was the biggest decliner among the major S&P sectors.
Trading in equities was also affected by the closure of the bond market, banks and the government, including Securities and Exchange Commission, for the Columbus Day holiday.
"Investors will be content to sit on the sidelines today and wait for more earnings numbers tomorrow and some economic data," said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago.
JPMorgan reports on Tuesday, with Goldman Sachs , Bank of America, Wells Fargo and Citigroup posting results through the week.
Along with the banks, several Dow 30 components are scheduled to report results this week, including Johnson & Johnson, Intel and General Electric.
S&P 500 companies are expected to report a 4.8 percent fall in third-quarter profits, the biggest decline in six years, according to Thomson Reuters data.
Financial companies are expected to show earnings growth of 8.4 percent, down from the 14.8 percent expected at the start of the third quarter.
At 13:06 a.m. ET (1706 GMT), the Dow Jones industrial average was up 24.15 points, or 0.14 percent, at 17,108.64, the S&P 500 was down 1.11 points, or 0.06 percent, at 2,013.78 and the Nasdaq composite index was up 0.64 points, or 0.01 percent, at 4,831.11.
Six of the 10 major S&P sectors were in the black. Chevron was the biggest drag on the Dow with a 2 percent decline.
Eli Lilly's shares fell 7.9 percent to $79.31 - on track for its biggest single-day day decline in seven years - after the drugmaker said it was scrapping an experimental heart drug.
Regeneron was up 5.2 percent and Amgen 3.5 percent. Both companies recently received FDA approval for cholesterol-reducing drugs.
EMC's shares were up 1 percent at $28.15 after Dell said it would buy the data storage company in a $67 billion deal.
VMware, which is majority owned by EMC, fell 10.9 percent to $70.07 on concerns that Dell's plan to create a VMware tracking stock would increase the size of the float.
Twitter was down 6.3 percent at $28.90 after a report on Friday that the company was planning to announce layoffs this week.
Both Atlanta Fed chief Dennis Lockhart and Chicago Fed president Charles Evans suggested on Monday they could support a rate hike in December as long as the economic data does not disappoint, echoing Federal Reserve Vice Chairman Stanley Fischer's comments on Sunday.
Fed board governor Lael Brainard, who is a voting member of the Fed, is scheduled to speak later on Monday.
Declining issues outnumbered advancing ones on the NYSE by 1,532 to 1,425. On the Nasdaq, 1,479 issues fell and 1,206 advanced.
The S&P 500 index showed 24 new 52-week highs and one new low, while the Nasdaq recorded 67 new highs and 26 new lows. (Reporting by Abhiram Nandakumar in Bengaluru; Editing by Don Sebastian and Saumyadeb Chakrabarty)