Volvo beats first quarter forecasts but warns of truck order cancellations

STOCKHOLM (Reuters) - Sweden's AB Volvo on Thursday warned of weakening truck demand despite reporting a smaller-than-expected fall in quarterly operating earnings helped by service sales.Its net order intake has turned negative since the end of March as customers cancel planned truck purchases due to the coronavirus pandemic, the company said.Volvo, whose truck brands include Mack and Renault, competes with Germany's Daimler and Volkswagen subsidiary Traton with its Scania and MAN..