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LONDON -- European equity markets are seeing a day of mixed trade Wednesday, with a clear lack of direction across benchmark indexes. Profit warnings from a number of firms, both in the U.S. and Europe, have been applying some downward pressure on those markets attempting to squeeze higher, although premarket trade does show the S&P 500 (INDEX: ^GSPC ) taking on a slightly more positive tone, set to open 0.3% higher.
Within this mixed session, a number of individual names are still coming out on top. Here are three ADRs that are set to beat the S&P today.
Nokia (NYSE: NOK )
The Finnish technology group has been climbing almost 2.2% today following news that Nokia Siemens Networks has won a contract to deliver a wireless network on the Indian Kolkata subway.
This comes as welcome news at a time when Nokia has been suffering at the hands of rivals in the smartphone and tablet sectors this year. According to The Economic Times of India, the deal to provide this wireless network is set to be worth as much as 30 million euros.
Grifols (Nasdaq: GRFS )
The Spanish medical manufacturer is up more than 2.1% this morning, continuing to climb following news this week that it has bought a 40% stake in Catalan biotechnology firm VCN Biosciences and Moody’s upgraded its debt rating.
VCN is dedicated to the research and development of new therapeutic approaches for untreatable tumours, the most advanced product of which focuses on the treatment of pancreatic cancer.
ARM Holdings (Nasdaq: ARMH )
ARM is putting in a strong performance today, up around 1.5% as the share price bounces back following a sell-off during the last few sessions.
This sell-off was exacerbated yesterday by news that U.S. major Intel was investing as much as $4.1 billion in rival ASML Holding. This move is expected to give ASML an advantage in extreme ultraviolet lithography, a manufacturing process that will allow improved miniaturization of computer chips.
Despite the ongoing eurozone troubles, this morning's European trading did provide some winners -- and perhaps some European buying opportunities. Indeed, legendary investor Warren Buffett has recently spent more than $1 billion buying the stock of a prominent European large cap. If you want to know why Buffett has bought into Europe, this special Motley Fool report -- "The One European Share Warren Buffett Loves" -- reveals everything, including the price he paid. You can download the report today for free. But hurry -- the report is available for a limited time only.
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