Stocks are looking set to fall on the open today. Cisco Systems Inc. reported earnings inline with expectations last night, but warned that fiscal first-quarter revenue may miss analysts’ forecasts.

Big name techs such as Juniper Networks Inc., Sun Microsystems Inc. and Lucent Technologies Inc. are sliding in response. Apart from the techs, general economic and profit worries are weighing on traders.

Merrill Lynch & Co. has downgraded big European telcos such as Deutsche Telekom AG, France Telecom SA and others, sending those stocks down. Bayer AG is taking a hit after issuing a profit warning. BOC Group plc, Europe’s second-largest maker of industrial gases, plans to cut 1,500 jobs in the face of weak profits.

There’s no major economic news to ease the negativity. In Canada, July’s Help-wanted Index fell to 155, a 3.7% decline from June. This continued a general downward trend that began in November 2000.

Compared with July 2000, the index is down 10.9%. Seven of the 10 provinces showed monthly declines; the largest of these were in Quebec (5.2%) and Ontario (4.6%).

European stocks are down, led by telcos and pharmaceuticals. The euro is sliding, too, as concern builds about the European economy. The Bank of England also lowered its forecast for economic growth and said inflation will slow. In London, the FTSE is down 77 points to 5,459. In Paris, the CAC 40 is off 69 points to 4,983. Germany’s DAX is down 102 points to 5,651.

Overnight in Asia, stocks were weak, too. The Nikkei shed 156 points to 12,164. The Hang Seng lost just 49 points to 11,958.

In M&A news, Nationwide Financial Services Inc. is buying Provident Mutual Insurance Co. for US$1.56 billion. E.ON AG, Europe’s second-largest utility, is selling its metals-distribution unit to Balli Group plc for US$960 million.

In earnings news, Canadian Natural Resources reports its earnings are up 41% to $249 million, or $2.06 per common share, from $176 million in the second quarter of 2000.

St. Lawrence Cement Group reported net earnings of $21.4 million, or 51¢ per share, for the second quarter of 2001 compared to $14 million for the second quarter of 2000.

Sleeman Breweries Ltd. saw its net income foam up 19% to $3.5 million.

Dynacare Inc. is seeing net earnings for the second quarter of $5.9 million, or 34¢ per diluted share, compared to $1.9 million, or 15¢ per diluted share during the same period last year.

Precision Drilling Corporation is reporting record earnings of 54¢ per share for the three months ended June 30.

In other business news, Unique Broadband Systems Inc. has retained Yorkton Securities as financial advisor to assist its Special Committee in its review of strategic alternatives, which may involve selling the firm.

JetForm Corp. today announced the launch of a re-branding effort which will see it change its name to Accelio Corporation (pronounced “Ak-sell-e-o”).