Stocks are pointing to a strong open this morning, led by the techs.

General Electric Co. is leading the way higher after it forecast 17% profit growth next year.

Micron Technology is strong after announcing a deal to acquire Toshiba’s commodity DRAM business for an undisclosed price, beating out rival Infineon.

On the downside, Solectron Corp. reported a fiscal first-quarter loss, which it blamed on slumping sales and reorganization costs.

In economic news, U.S. housing starts jumped 8.2% in November, led by work on single houses, apartments and condos.

In Canada, manufacturers’ shipments declined 2.9% in October to $40.4 billion, the lowest level since May 1999. Temporary plant closures in the motor vehicle industry, slowing production in the aerospace sector, and declining petroleum and coal prices held down shipments for a second consecutive month.

European stocks are up, led tech bellwether Nokia Oyj. But gains are being restrained by news that insurance giant Axa SA said operating profit will fall 53% this year. DaimlerChrysler AG expects to cut 6,000 jobs in Germany next year. The FTSE is up 26 points to 5,162. The CAC 40 has added 10 points to 4,495. The DAX is up 24 ticks to 5,092.

Overnight in Asia, stocks were stronger, as the yen continues its slide. The Nikkei gained 109 points to 10,432. The Hang Seng gained 21 points to 11,487.

In M&A news, GE is buying Interlogix Inc. for about US$777 million in cash and stock.

Forbes Medi-Tech Inc. has reached an agreement with Novartis Consumer Health SA to acquire the licensing and distribution rights to consumer products fortified with Reducol, its proprietary cholesterol-lowering functional food ingredient, for a one-time payment of US$4 million. Forbes has also retained Fahnestock & Co Inc. and Canaccord Capital (Europe) Limited as financial advisors.

Finally, MGI reported a net loss of $7.1 million for the quarter ending October 31, compared to a net loss of $9.5 million, or for the second quarter, and a net loss of $4.8 million for the comparable third quarter.