Stocks are facing another down open today.

Profit worries are the order of the day once again, and traders are selling after names such as Dell Computer Corp., Gap Inc., and Analog Devices Inc. cut their quarterly forecasts. Hewlett-Packard Co., however, managed to beat reduced forecasts.

On the economic front, it’s trade day. The U.S. trade deficit widened to US$29.41 billion, a little less than economists expected. Both exports and imports fell last month. Exports fell more sharply than imports, and both are down to levels not seen since February 2000.

In Canada, a sharp decline in the value of energy exports, along with weakness in most major sectors resulted in an overall decline in exports in June. Canadian companies exported just over $36.1 billion worth of merchandise in June, a 1.4% drop from May.

Imports rose slightly as strong growth in the automotive and consumer goods sectors was partially offset by declines in energy imports. Imports gained a slight 0.8%, rising to $30.3 billion. This resulted in a slight drop in Canada’s merchandise trade surplus to $5.8 billion.

Also, the Composite Index was reported unchanged in July after a slight increase in June. It was pulled down by a moderation in housing after a sharp gain the month before. Manufacturing contracted again. Five of the 10 components rose, the same as in June, while four fell and one was unchanged.

In Europe, stocks are down, led by names such as Thomson Multimedia SA and DaimlerChrysler AG. In a piece of good news, European inflation was reported lower, opening the door for the European Central Bank to cut interest rates. The FTSE is down 35 points to 5,355. The CAC 40 is down 78 points to 4,804. The DAX has shed 107 points to 5,254.

Overnight in Asia, stocks also finished the week on a down note. The yen fell against the dollar, and Taiwan’s economy reportedly shrank for the first time in 26 years. The Nikkei dropped 70 points to 11,446, while the Hang Seng shed 78 points to 11,755.

In other news, Certicom today reiterated revenue guidance for the first quarter of fiscal 2002. The company estimates that the net loss will be approximately 32¢ per share. It also reiterated its commitment to generate an operating profit by the second quarter of 2003. As well, Certicom will reduce its workforce by approximately 25% by the end of the current fiscal quarter.