Owens-Illinois Falling over 8% after Slashing Q2 Guidance

The management of Owens-Illinois, Inc. OI intends to update the Company's second quarter business outlook today at the Deutsche Bank Global Industries and Basic Materials Conference. Entering the period, the Company anticipated second quarter results would be in line with the prior year, but O-I now expects second quarter adjusted net earnings will be down from the prior year period. Segment operating profit margins in the second quarter of 2011 will likely decline between 3 and 6 percentage points from second quarter 2010 levels. Read more here.