LONDON -- European equity markets are managing to push higher Tuesday amid speculation surrounding Fed Chairman Ben Bernanke's semiannual address to Congress later today, with many expecting him to announce further stimulus measures following a month of rather downbeat economic news. Early premarket trade has the U.S. markets following their European counterparts, with the S&P 500
As always, despite this upbeat tone there are a number of stocks underperforming. Here are three American depositary receipts the S&P should beat today.
The French communications manufacturer has plummeted more than 15.3% this morning after it announced a 40 million euro operating loss for the second quarter of this year, which led it to abandon its full-year profit target.
The company said that despite increased sales, it was unable to turn a bigger profit due to its "business mix," and it has now said it will not be able to beat last year's 3.9% operating profit margin.
The Finnish phone manufacturer is seeing a second day of losses Tuesday after AT&T said it will be slashing the price of Nokia's new Lumia 900 handset in half, due to lack of demand. The new smartphone, which Nokia had hoped would be a rival to iPhone and Android models, will now be priced at $49.99 in the U.S. Nokia shares are trading 4.2% lower.
The German financial giant is under pressure today, down 1.3% on news that it is one of seven banks under investigation by the U.K.'s Financial Services Authority following the LIBOR-fixing scandal, which has so far seen a record $453 million fine imposed upon Barclays
Meanwhile, legal offices in five U.S. states are opening up their own investigations into the LIBOR scandal, all at different stages of investigation, with those in New York and Connecticut having been underway for the past six months.
As usual, this morning's European trading saw some stocks lose ground -- and perhaps provide some European buying opportunities. Indeed, legendary investor Warren Buffett has recently spent more than $1 billion buying a European large-cap stock that's currently trading well below its 2012 high. If you want to know what Mr. Buffett has bought within 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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Karl Loomes does not own any share mentioned in this article. The Motley Fool has a disclosure policy.We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.