Updated from 12:15 p.m. EDT



was the market's biggest gainer Friday after the hunting and fishing gear retailer sold 7.8 million shares at $20 apiece in its initial public offering.

The $20 price tag was at the high end of its $19 to $20 range, which had been increased from $15 to $17. Credit Suisse First Boston, J.P. Morgan, Wachovia Securities, Stephens Inc., and William Blair & Co. led the underwriting syndicate. Shares of Cabelas traded up $6, or 30%, to $26.

EverTrust Financial Group


jumped after it agreed to be acquired by


(KEY) - Get Report

for about $195 million in cash. Under the terms of the deal, KeyCorp will pay $25.60 a share for EverTrust, which represents a 28.3% premium over Thursday's closing price of $19.96. The acquisition is expected to close in the fourth quarter. Shares of EverTrust Financial traded up $5.40, or 27%, to $25.35.

Shares of


(PAYX) - Get Report

slipped after the company reported weaker-than-expected fourth-quarter earnings. Excluding items, the payroll and outsourcing solutions cmpany reported earnings of 20 cents a share on sales of $330.4 million. Analysts polled by Thomson First Call had been expecting Paychex to earn 21 cents a share on sales of $329 million. Shares of Paychex traded down $2.77, or 7.6%, to $33.92.



fell after the restaurant operator said it expects to report second-quarter same-store sales and earnings that will come in at the low end of its previously issued range. Previously, O'Charley's said that it expected second-quarter earnings of 22 cents to 25 cents a share on same-store sales growth of 2% to 4% for its O'Charley's restaurants and 1% to 3% for its Ninety Nine restaurants. The company said slower sales in May and June prompted the updated financial earnings guidance. Shares of O'Charley's traded down $1.16, or 6.1%, to $17.92.



fell after the company lowered its 2004 financial outlook. Citing its inability to renegotiate a new contract with Infinity Broadcasting, Arbitron said that it expected to report $12 million less in annual revenue. Arbitron also said that it expects to report earnings of $1.53 to $1.57 a share. Analysts had expected Arbitron to earn $1.76 during 2004. Shares of Arbitron traded down $2.92, or 7.4%, to $36.75.


volume leaders included

General Electric

(GE) - Get Report

, down $1.09 to $32.18;



, up 13 cents to $3.80;


(PFE) - Get Report

, down 99 cents to $33.82;



, unchanged at $18.28;

Exxon Mobil

(XOM) - Get Report

, down $1.02 to $44.25.


volume leaders included


(ORCL) - Get Report

, up 30 cents to $11.80;


(MSFT) - Get Report

, up 18 cents to $28.57;


(INTC) - Get Report

, down 17 cents to $27.78;


(CSCO) - Get Report

, down 25 cents to $23.85;

Taser International


, up $6.67 to $42.09.