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Owens-Illinois (OI) Stock Jumping on Q3 Earnings

Updated from 11:07 AM EDT.

NEW YORK (TheStreet) -- Shares of Owens-Illinois (OI) were spiking 11.47% to $18.95 on heavy trading volume late Wednesday afternoon after the company reported earnings that beat analysts' forecasts for the 2016 third quarter.

After yesterday's closing bell, the Perrysburg, OH-based maker of glass containers reported earnings of 68 cents per diluted share, surpassing analysts' estimates of 66 cents per share.

Revenue for the quarter was $1.71 billion, while analysts had projected $1.73 billion.

"The steady...