Truckmaker Volvo beats earnings forecast, sees U.S. market weaken

Swedish truckmaker Volvo reported better than expected second-quarter earnings on Tuesday as cost cuts and rising European sales helped fortify it against slumping U.S. demand for commercial vehicles. Heavy-duty trucks, where Volvo is competing with Germany's Daimler and Volkswagen , are benefiting from strong demand across Europe while battling downturns across the Atlantic. Volvo, which sells trucks under the Mack, Renault and UD brands as well as its own name, scaled back its outlook for Nort