http://finance.yahoo.com/q/ud?s=OI
Today, it was taken off of Goldman Sach's Conviction Buy List.
Make up your own mind because listening to recommendations from the big banks will give you vertigo!
Small Excerpt"
"Owens-Illinois is seeing big global profits in glass containers as sales grew 16.4% in the first quarter. The company has surprised on estimates each of the last four quarters by an average of 66.17%. O-I's forward P/E is only 9.33."
On Apr 30, Owens-Illinois reported first quarter estimates that surprised on estimates by 35.71%, or 29 cents per share. First quarter earnings increased 215% to $174 million, or $1.08 per share, compared to $55.3 million, or 31 cents per share in the year-ago period, excluding a one-time restructure charge of $9.7 million, or 6 cents per share.
The company attributed the earnings rise to improvement in price and product sales mix. Higher energy costs and raw materials, as well as transportation costs, ate into the improvement gains however.
Sales rose 16.4% to $1.961 billion from $1.684 billion in the first quarter of 2007. Favorable currency exchange added $187 million and increased price and product sales racked up another $119 million.
The company said rising energy and raw material costs are going to make 2008 a challenge.
"But I remain confident in the capabilities and dedication of O-I employees to ensure that the strategies we've put into place will deliver solid results," said Al Stroucken, Chairman and Chief Executive Officer.
"Going forward, we will continue to identify opportunities to expand our footprint in attractive geographies and to work with our customers to develop innovative glass packaging that will help distinguish their brands in the marketplace," he said.
http://seekingalpha.com/article/82471-owens-illinois-continues-to-grow
Glass has class and I am still bullish on Owens-Illinois!
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