Stocks are looking to open lower on Friday as investors fret over corporate earnings growth. Techs are primarily responsible for the negative sentiment after Sun Microsystems Inc. said its profit will likely come in at the low end of prior guidance. As well, Novellus Systems Inc. has cut its sales and profit forecasts.

In economic news, Statistics Canada reported that real gross domestic product advanced 1.1% in the second quarter, driven by domestic demand and a build-up of inventories. Canada’s current account surplus with the rest of the world fell slightly but remained strong at $4.9 billion.

In the U.S., personal spending reportedly rose 1% in July, although income declined. Attractive incentives on auto sales drove the higher spending.

In Europe, stocks are mixed so far today. The FTSE is down two points to 4,207. The CAC 40 has gained 15 points to 3,347, despite news that French unemployment rose to its highest level in almost two years. The DAX dropped 23 points to 3,638.

Overnight in Asia, stocks were little changed. The Nikkei closed down less than a point to 9,619. The Hang Seng dropped 17 points to 10,044.

In M&A news, Fairmont Hotels & Resorts Inc. has taken a 19.9% equity interest in, and secured a contract to manage, the Sonoma Mission Inn & Spa. The equity interest in the resort cost $19 million.

Placer Dome has again extended the scheduled closing date of its offer for AurionGold by 11 days to September 10. It has extended its offer to provide AurionGold shareholders with further time to consider the fundamental changes to aspects of AurionGold’s ownership and share trading profile and to tender their shares to the offer.

In other M&A news, Ball Corp. is buying Schmalbach-Lubeca AG for US$1.18 billion in cash and assumed debt.

Vivendi Universal SA has announced a couple of deals too. Vivendi Environnement is expected to sell its U.S. Filter Corp. for about US$650 million. The firm also plans to sell its Internet and French publishing businesses.

Finally, Toromont Industries has announced a normal course issuer bid for 5% of its outstanding common shares.