Libbey Inc. Falling on Heavy Volume (LBY)

Shares of Libbey Inc.

are falling sharply this morning, following the release of the third quarter earnings results. Currently, shares are off 8.23%, trading at $13.50, though were lower at the opening bell, when LBY was trading at $12.36. Within the first hour of trade LBY has traded 253,383 times, or roughly 2.24x the 10-day average. Shares are gravitating toward the 50-day moving average at ~$13.00, which will be the stock's first major test. Libbey Inc. is the producer of glass tableware products in the Western Hemisphere, in addition to supplying to key markets throughout the world. It produces glass tableware in five countries and sells to over 100 countries.