UPDATE 2-Mercedes disappoints as Daimler Q1 profit rises


(Rewrites with market reaction, background) By Michael Shields, European Auto Correspondent FRANKFURT, April 27 (Reuters) - Underlying profit at Mercedes Car Group disappointed the market on Thursday, eclipsing DaimlerChrysler's overall first-quarter operating earnings that beat analyst expectations. Profit at U.S. arm Chrysler more than halved in the quarter as a price war ranged in the crucial U.S. market. Total operating profit at the world's fifth-biggest carmaker rose 42 percent ...

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