![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Mercedes Benz Group AG (PK) | USOTC:DDAIF | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 62.22 | 62.24 | 62.99 | 0.00 | 01:00:00 |
Moody’s Investors Service, the credit rating agency of Moody's Corporation (MCO), has upgraded the investment grade credit rating of PACCAR Inc. (PCAR) from “Negative” to “Stable” as it expects the company to benefit from strong demand for heavy trucks in 2012.
The rating agency also affirmed short-term rating as Prime-1 and long-term rating as A1 for the company and its financial service subsidiaries. The ratings will positively affect the company's debt-raising capacity.
PACCAR is the third largest manufacturer of heavy-duty trucks (with a capacity of more than 15 metric tons) in the world after Volvo (VOLVY) and Daimler (DDAIF), and has substantial manufacturing exposure to light/medium trucks (with a capacity of 6–15 metric tons).
PACCAR’s market share has been robust, especially with its DAF nameplate. In the first half of 2011, the company’s DAF nameplate achieved a market share of 15.3% in the above 15-tonne market.
The Zacks #3 Ranked (Hold) company reported a profit of $239.7 million or 65 cents per share in the second quarter of the year that more than doubled from $99.6 million or 27 cents per share in the prior-year quarter. However, the truck maker’s profit missed the Zacks Consensus Estimate of 68 cents per share.
The improvement in profit reflected strong truck sales in North America and Europe and better aftermarket parts sales and financial services results worldwide. However, the company’s suppliers faced difficulty while catering to the robust increase in truck build rates.
PACCAR expects industry sales in the above 15-ton truck market in Europe in the range of 230,000-250,000 units for 2011. The company anticipates industry retail sales in the Class 8 truck markets of U.S. and Canada in the range of 180,000-200,000 vehicles in the year.
The company has targeted capital investments of $400-$500 million and R&D expenses of $275-$300 million for 2011 in order to develop new products and enhance manufacturing operating efficiency.
1 Year Mercedes Benz (PK) Chart |
1 Month Mercedes Benz (PK) Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions