The leading producer of glass containers announced that it will buyback up to $350 million in common stock. The repurchases will take place from time to time
pending on market conditions and will expire December 31, 2010.

"We believe that the Company has substantial prospects for continued earnings growth and the current share price does not reflect the long term value of the firm," said Al Stroucken, Chairman and CEO. "As we evaluate investment alternatives, the repurchase of our stock represents another attractive opportunity to deliver value for our shareholders."

Higher prices and lower interest expenses helped fuel stellar second-quarter results for O-I. The Perrysburg, Ohio-based company experienced net income of $231.3 million, or $1.35 a share, up from $149.7 million, or 89 cents a share in the same period last year.
Total sales jumped from $2 billion to $2.2 billion this quarter. Although the company admitted to selling fewer bottles, the surge in profit came from the sale of higher end bottles and the weakness of the U.S. dollar against currencies where O-I has operations.

Another bullish note is that analysts from Wachovia Equity Research have an outperform rating on the stock. The analysts mentioned “Additionally, while the company has lacked discipline in the past as it relates to free cash flow allocation, we note that a new
management team, on top of recent portfolio re-jiggering has positioned the company on a solid footing over the next few years.” They believe the stock should be trading in the $48 to $52 range.

form 4

The leading producer of glass containers announced that it will buyback up to $350 million in common stock. The repurchases will take place from time to time
pending on market conditions and will expire December 31, 2010.

"We believe that the Company has substantial prospects for continued earnings growth and the current share price does not reflect the long term value of the firm," said Al Stroucken, Chairman and CEO. "As we evaluate investment alternatives, the repurchase of our stock represents another attractive opportunity to deliver value for our shareholders."

Higher prices and lower interest expenses helped fuel stellar second-quarter results for O-I. The Perrysburg, Ohio-based company experienced net income of $231.3 million, or $1.35 a share, up from $149.7 million, or 89 cents a share in the same period last year.
Total sales jumped from $2 billion to $2.2 billion this quarter. Although the company admitted to selling fewer bottles, the surge in profit came from the sale of higher end bottles and the weakness of the U.S. dollar against currencies where O-I has operations.

Another bullish note is that analysts from Wachovia Equity Research have an outperform rating on the stock. The analysts mentioned “Additionally, while the company has lacked discipline in the past as it relates to free cash flow allocation, we note that a new
management team, on top of recent portfolio re-jiggering has positioned the company on a solid footing over the next few years.” They believe the stock should be trading in the $48 to $52 range.

Cramer suggested
seemed undervalued
with good growth potential

Cramer: Chesapeake Energy's Got Legs: Jim Cramer likes the energy stocks that the hedge funds don't and says Chesapeake's a long-term play.

Click here to watch the video.

LOUIS

jumpin' to glass is a gas, gas, gas!

jumpin' to glass is a gas, gas, gas!

jumpin' to glass is a gas, gas, gas!

New Tech. Glass vs plastic.

Company lost market share

Heavy nat gas user, no dividend