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Updated from 2:02 p.m. EDT



will warn that profits won't meet expectations for the rest of the year when it reveals second-quarter earnings, scheduled for Wednesday,

The Wall Street Journal

reported Monday, citing people close to the company.

The report said the Stuttgart, Germany-based company will meet analysts' expectations for the second quarter. According to market research firm

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First Call/Thomson Financial

, analysts expect the automaker to report second-quarter earnings of $1.52 a share.

Lori McTavish, a DaimlerChrysler spokeswoman, said the company would not comment until its earnings are released Wednesday. "It's speculation and we don't comment on speculation," she said.

DaimlerChrysler closed Monday regular trading down 1 1/2, or 2.7%, at 53 9/16.

According to the


, DaimlerChrysler's problems stem from its U.S. business, which spent more than expected on incentives for Americans to buy its Chrysler, Dodge and Jeep vehicles.