Stocks are expected to open lower, led by the techs.

Juniper Networks issued an earnings warning, which cut its fourth quarter revenue forecast by about 25%. This is sending technology stocks lower.

Goldman Sachs Group Inc. reported that its fourth-quarter profit fell 17%, and Lehman Brothers Holdings saw its fourth quarter drop 67%. Bear Stearns Cos. saw fourth-quarter earnings down 21%.

In economic news, Argentina’s president has declared a state of emergency for 30 days and called in federal police after food riots and looting flared up yesterday.

There’s some good cheer in a report showing that U.S. initial jobless claims fell by 11,000 again last week to 384,000, an unexpected drop. This drops claims to their lowest level in five months, calming mass layoff fears.

In Canada, the Consumer Price Index rose 0.7 % between November 2000 and November 2001. This amounts to the smallest 12-month advance since February 1999. Also, retail sales reportedly bounced back 1.7% in October to $24.2 billion. October’s gain cancelled the 1.5% broad-based decline in September, leaving sales essentially flat since April.

In Europe this morning, the Juniper news and Argentina nervousness has stocks slumping. The FTSE is down 19 points to 5,101. The CAC 40 shed 22 points to 4,446. The DAX is off 12 ticks to 4,973.

Overnight in Asia, stocks traded mixed. The Nikkei lost 37 points to close at 10,435. The Hang Seng recorded a small gain, adding 36 points to 11,601.

In other news, Mitec Telecom Inc. announced that it has entered into a definitive agreement to acquire certain assets related to COM DEV International Ltd.’s Wireless RF Conditioning Components and Satellite Ground Station groups for about $23 million, a minimum of $6 million in cash and the rest in shares.