Thursday, Sep 29, 2016
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Strong earnings report boosts O-I share price

Stock of Owens-Illinois Inc. jumped $5.01 a share, or 14 percent, to $40.04 yesterday after the Perrysburg glass-container maker reported strong second-quarter profits the day before.

The price was a nine-year high for O-I shares, which last traded over $40 in August, 1998.

Carol Gee, O-I spokesman, said, We delivered beyond what they expected.

O-I s earnings beat average analyst forecasts by about 30 cents a share, and the profit was three times what it was for the period a year ago.

In a conference call with analysts, O-I Chairman and Chief Executive Albert Stroucken said he s confident the firm is on the right path.

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