Stocks are poised to trade higher at the open Tuesday, as traders digest a slew of earnings news.

AT&T Corp. reported a second-quarter loss, its third in a row. Lucent Technologies Inc. saw its loss widen to US$7.9 billion, and it announced 7,000 job cuts. Pharmacia Corp. saw its second-quarter net income rise 23%. Tyco International Ltd. reported a loss. SBC Communications saw its profit slide to US$1.85 billion, on lower sales. As well, Duke Energy Corp. saw its profit rise for the latest quarter, but it lowered forecasts.

On the economic front, the Canadian Consumer Price Index rose at a 1.3% annual rate in June, up from 1% in May. Just over half of the rise in June was the result of higher cigarette prices.

The Composite Index rose 0.5% in June, following a revised increase of 0.8% in May.

In Europe, stocks are mixed so far today. Some early buying was tempered when Belgian financial services giant Fortis said that it may miss its profit targets this year. The FTSE is up four points to 3,899. But the CAC 40 is down 31 points to 3,119. And, the DAX is down 26 points to 3,665.

Overnight in Asia, markets managed to close to the upside. the Nikkei gained just 27 points to 10,216. The Hang Seng added 204 points to 10,314.

In M&A news, it is being reported that Diageo plc is in talks to sell Burger King to a buyout group.

In Canadian earnings news, Teck Cominco reported unaudited net earnings in the second quarter of 2002 were $8 million, compared with net earnings of $23 million in the second quarter of 2001. The lower earnings were due mainly to the absence of substantial power sales profits, which were realized in the second quarter of 2001, and to lower zinc prices.

Stelco Inc. reported net earnings of $5 million in the second quarter, compared with a loss of $67 million in second quarter 2001.

Centrinity Inc. said that it expects a third quarter loss of approximately $3.3 million, as compared to a loss of $17.2 million in the same quarter of fiscal 2001. The net loss for the second quarter was $2.9 million.

CGI Group Inc. reported that its net earnings of $36.5 million were 50.0% higher than last year’s third quarter comparable cash earnings.