Stocks are pointing to a mixed open this morning. While profit concerns are nagging the broader market, tech stocks are looking up a bit on news that Ciena is cutting 10% of its workforce.

Stocks are generally down in Europe, with profit worries marring the trade there too. Siemens. Alcatel and LVMH are leading the way down.

The FTSE is off 31 points to 5213. The CAC 40 has dropped 37 points to 4478. The DAX is down 66 points to 4844.

Overnight in Asia, stocks were weak there too amid news that Japan Airlines will acquire smaller rival Japan Air System Co. The yen was down again on fears that the Bank of Japan may sell the currency to boost exporters’ fortunes.

The Nikkei dropped 134 points to 10082. The Hang Seng slid 17 points to 10592.

In business news, Vincor International Inc. reported net income was $7.0 million in the latest quarter, compared with $6.2 million in the second quarter of fiscal 2001.