DaimlerChrysler Delays Q1 Results, Analysts Urge Volvo Stock Sale

Commercial Motor
March 27, 2007

DC - like Volvo - has decided to delay its Q1 results. The numbers will not now be released until after the shareholders AGM on April 4th, and are expected on May 15th.The reason given for this change is a shift to international accounting standards. AB Volvo, conversely, chose to delay its results to bring them into line with those of Nissan Diesel.Either way, from a truck perspective, not having numbers to hand should mean a bit less body armour is needed at the AGM. It's also possible that some decision as to the fate of Chrysler may have been taken in a couple of months - but unlikely - think late summer at the earliest. We, for that matter, stand by our view that this is one big wind-up on the part of DZ, and merely an opportunity to get the UAW to sing the right song. But we digress.Any road up: Volvo chose to delay its results on Monday. On Tuesday, Goldman Sachs downgraded its stock from Buy to Neutral whereas Deutsche Bank went from Hold to Sell. On Tuesday, the day when DC announced a delay in its results, its stock was trading at €61.92 - a five year high. What happens on Wednesday?

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