Stocks are facing a mixed open today, with broader futures up, but tech futures pointing down.
Corporate earnings news is dominating the news flow.
The world’s biggest mining company, BHP Billiton, saw its profit fall in the first quarter. It also issued a bleak forecast for its demand.
Cable giant Comcast and finance firm Conseco also saw losses in the quarter.
In Europe, markets are mixed so far, too. Earnings news there has ScottishPower plc reporting lower profits. While Shire Pharmaceuticals Group plc is reporting higher results.
Nevertheless, the FTSE is down 10 points to 5,155. The CAC 40 is up 32 points to 4,463. The DAX has gained 33 points to 5,041.
Overnight in Asia, stocks closed higher. The Nikkei gained 60 points to 11,553. The Hang Seng has added 36 points to 11,498.
In other news, Wireless Matrix has revised its fourth quarter guidance. Revenue is projected to be $7.4 million and earnings before interest, tax, depreciation and amortization is projected to be negative $2.5 million.
Torstar reported net earnings for the quarter were $23.3 million, compared with a loss of $92.7 million in 2001.
Barrick Gold Corporation today reported earnings of $46 million and free cash flow of $73 million for the first quarter of 2002.
Talisman Energy Inc. reported first quarter cash flow of $577 million and net income of $101 million.
Sun Life Financial Services of Canada Inc. reported shareholder net income of $256 million for the quarter.
Also, Telus had a quarterly net loss of $800,000, much improved from a $140 million loss in the quarter a year ago.