Skip to main content

(Updated from 6:59 a.m. EDT)Ariba (ARBA) , arriba! In recent trading on Instinet, the business-to-business stock sped ahead 9 1/2 to 113. Last night, the electronic commerce software outfit posted a third-quarter loss of 5 cents a share, narrower than the 28-analyst estimated loss of 8 cents and the year-ago loss of 11 cents a share.

Chip manufacturer



reported second-quarter earnings of 23 cents a share, in line with the 29-analyst

First Call/Thomson Financial

estimate and up from the year-ago 12 cents. Concerns about the company's cellular phone business, however, left its shares ahead only 1/16 in early trading on Instinet.

For a complete look at companies scheduled to report earnings today, take a look at


earnings docket.

After midsession trading, Germany's

Xetra Dax

was up 0.04%. France's

CAC 40

was ahead 0.2%, while the U.K.'s

FTSE 100

Scroll to Continue

TheStreet Recommends

was off 0.6% (see today's

European Midday Update for more). Japan's

Nikkei 225

lost 1.8% overnight, while Hong Kong's

Hang Seng

declined 0.6% (see today's

Asian Markets Update for more).


S&P 500 futures on


lately were down 7 to 1505, about 2 1/2 points below

fair value as calculated by

Prudential Securities

, and indicating a flattish open. The thinly traded

Nasdaq 100

futures were up 2.5 to 3933, about 15 points below fair value as calculated by

, and pointing toward a sluggish opening for the

Nasdaq Comp.

A Doughboy in play: On the merger front,


(DEO) - Get Diageo Plc Report

is in serious talks to merge its


food division with

General Mills

(GIS) - Get General Mills, Inc. Report

. According to

The Wall Street Journal

, any transaction would be valued around $11 billion. The merger would also give U.K.-based Diageo a large minority stake of more than 25% in the new entity.

Earlier: Commerce One Gains as Ariba Boosts B2B

LONDON -- Business-to-business stocks could get a boost today on the back of



narrower than expected third-quarter loss, reported yesterday.

The electronic-commerce software company said it lost 5 cents a share for the period ending June 30, before special charges, which was less than the 8-cent loss that analysts polled by

First Call/Thomson Financial

were expecting.

Other B2B stocks that could see some action today include

Commerce One





, said a London trader, who asked not to be named. As of 6 a.m. EDT, only Commerce One was trading in Europe. It was up 2 1/8, or 4%, to 54 on





also was seeing some action, but to the downside. It reported earnings yesterday that met analyst expectations but nonetheless left investors concerned about the company's cellular phone business.

Excluding charges the company said it earned 23 cents a share, compared with 12 cents last year.

Motorola missed the switch to low-cost cellular phones early in the year and its cellular business has been struggling to recover ever since. Motorola shares were off 3/4, or 2%, to 35 3/8 on Instinet.

A host of other companies continue to report results today. The full week's

earnings calendar is published separately.

At 6:55 a.m. EDT, the September

S&P 500 futures were down 1.4 points to 1504.3, about 3 points below

fair value as calculated by

Prudential Securities

and offering little indication for the open. The thinly traded

Nasdaq 100

futures were up 3 to 3933, 15 points below fair value as calculated by

and also little indication for large-cap tech stocks in the early going. Fair value helps determine the tone of futures trading, often a good indication for how the securities market will open.