Stocks look set to slide again on the open today. Telecoms are poised to lead the selling after Qwest Communications International Inc. said it plans to sell new stock to help cut debt.

Shareholders are reacting negatively to the news, and a slew of corporate earnings has a mixed tone, too.

Colgate-Palmolive Co. saw its profit rise by just 3%. Ciena is cutting 40 jobs, or 12% of its workforce. CVS Corp. is closing more than 200 stores after reporting weak results.

In Europe, stocks are weak. The Qwest news is hurting sentiment in the telecom sector there. Losers include Vodafone Group plc, Vivendi Universal SA and Alcatel SA.

Also, Royal & Sun Alliance Insurance Group plc, the U.K.’s second-largest P&C insurer, saw its profits sunk by U.S. asbestos claims and September 11.

France’s CAC 40 is down 65 points to 4,332. The German DAX has dropped 55 points to 4,929. In London, the FTSE has dropped 66 points to 5,101.

Overnight in Asia, stocks were weak following selling in the U.S. yesterday. In Hong Kong, the Hang Seng lost 112 points to 10,609. The Japanese Nikkei fell 156 ticks to 9475.

In other news, Pioneer Natural Resources Co. reported a net loss of $20.9 million, including a $7.7 million charge associated with Argentine peso, a $6 million bad debt charge related to derivative contracts with Enron North America Corp. and a $1 million loss on the sale of assets, primarily in Canada.

Also, TD Bank Financial Group announced that its provision for credit loss in the first quarter is expected to be $325 million.