Stocks are looking to open mixed Thursday. Tech stocks are set to open lower on weakness, but the broader market looks a bit more supportive.

In corporate news, Eastman Kodak Co. reported that its third-quarter earnings more than tripled on the strength of cost cuts. Viacom Inc. also reported a profit, helped by its lower costs. And, the world’s biggest insurer, American International Group Inc. saw its third-quarter profit rise.

Big pharmaceutical firms AstraZeneca plc, Merck and Schering-Plough Corp., all reported that their quarterly earnings fell in the face of competition from generics.

Tyco International Ltd. reported that it had a US$1.7 billion loss in its fourth quarter.

In economic news, U.S. initial jobless claims fell more than expected, dropping below the 400,000 mark to 389,000.

In Canada, it was reported that foreign investors turned their attention to Canadian bonds in August, buying $2.6 billion worth. Canadian investors’ demand for foreign securities abated, as a small investment in foreign stocks was completely erased by a reduction in their holdings of foreign bonds.

Also, the Composite Index for September continued to rise gradually for the fourteenth straight month with a 0.2% gain in September.

European stocks are generally up, driven by gains in KLM Royal Dutch Airlines NV, Royal Philips Electronics NV, SAP AG and Nokia Oyj. Cost cutting at these firms are expected to boost their profits. The FTSE rose 71 points to 4,078. The CAC 40 has gained 82 points to 3,074. And, the DAX is up 70 points to 3,085.

Overnight in Asia, stocks slumped. The Nikkei dropped 100 points to 8,614. And, the Hang Seng lost 17 points to 9,787.

In other earnings news, Shell Canada announced third-quarter earnings of $148 million, compared with earnings of $172 million for the third quarter of 2001.

Barrick Gold reported earnings of $34 million for the third quarter, compared to earnings of $59 million in the prior-year period.

Pioneer reported a net loss of $900,000 for the third quarter of 2002. For the same period last year, Pioneer reported net income of $24.6 million.

Eldorado Gold reported net earnings for the quarter amounting to a profit of $2 million compared to a loss of $1 million in 2001.