Stocks are looking a bit weaker Tuesday, despite stronger than expected growth in the U.S. economy. U.S. GDP rose at an 4% annual rate in the third quarter.

Corporate earnings news is weighing on the market today. Vivendi Universal SA has seen its latest quarterly loss expand to US$1.22 billion, due to the losses it is taking on asset sales.

Also, CN is taking fourth-quarter after-tax charges of $79 million for 1,146 job reductions, and another $173 million to account for a shift in its accounting for U.S. personal injury claims. The job reductions will occur in every corporate and operating function. About two-thirds of the reductions will occur in Canada, with the remainder in the U.S. Together the two charges will have an after-tax effect on CN’s fourth-quarter financial results of approximately $252 million, or $1.25 per diluted share.

In Europe stocks are down after German business confidence was reported lower. This is hitting the stocks of firms such as Deutsche Telekom, SAP, and Allianz. The FTSE is down 27 points to 4,095. The CAC 40 is down 19 points to 3,276. And, the DAX is off by just a point to 3,298.

Overnight in Asia, stocks were notably weaker. The Nikkei finished off its intra-day lows, down 120 points to 8,824. The Hang Seng lost 105 points to 9,996.

In earnings news, Plaintree Systems Inc. announced second quarter net loss of $1,591,768, compared to a net loss of $1,288,426 for the prior year’s second quarter.

Forbes Medi Tech Inc. had a net loss of $1.9 million, compared to a net loss of $1.8 million for the quarter. It also maintains its revenue guidance for 2002 at $8 million, of which direct sales and royalties will be approximately $7 million.

On the financing front, Glamis Gold Ltd. announced that 12.1 million common shares have been issued pursuant to an agreement with an underwriting syndicate led by BMO Nesbitt Burns Inc., National Bank Financial Inc. and Yorkton Securities Inc., and including CIBC World Markets Inc., Merrill Lynch Canada Inc., Research Capital Corporation and Sprott Securities Inc. The “bought deal” had total gross proceeds of $159,115,000.