Heino Ruland Quotations

With no major earnings news scheduled and losses in Tokyo, the (U.S.) market is lacking support for further gains.

Looking at profits, the quarterly result was very disappointing but high restructuring costs were booked, which weighed on earnings. What is gratifying is that order inflow is well above expectations.

It doesn't change the fact that employees are still overpaid. Their new models have to be very good, or else they'll fall back to the competitive disadvantage.

Merck has been hopelessly disappointing. The profit development is significantly below forecasts despite higher sales.

What is gratifying is that order inflow is well above expectations. Looking at profits, the quarterly result was very disappointing but high restructuring costs were booked, which weighed on earnings.

The figures were a positive surprise. One should not forget, however, that Mercedes Car Group has suffered a sharp decline in European new car registrations (in January) in comparison to its main rivals BMW and Audi.

The job cuts were well priced in. What was not in the price was the results, because the fourth-quarter result was driven by the top line as opposed to anything else.