Salomon Smith Barney
priced 28.17 million shares of
at $15 a share, below the estimated $16 to $18 range. The company is a wholly owned unit of
Northern States Power
, one of the largest independent power generators in the U.S.
In other postclose news (earnings estimates from
First Call/Thomson Financial
; earnings reported on a diluted basis unless otherwise specified):
Earnings/revenue reports and previews
Fiber optic subsystem provider
posted first-quarter earnings of 2 cents a share, a penny better than the seven-analyst estimate and the year-ago earnings.
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Steel container maker
said the parties who have offered to recapitalize the firm have cut the planned payout to shareholders to $20 a share from $21. The reduction is due to adverse developments in the U.S. high-yield debt market and weaker-than-expected results for the rigid packaging industry, the company said.
Federal Communications Commission
said it will soon propose easing rules that require
to sell off some television stations as part of its acquisition of
. The FCC said the proposal would also loosen rules prohibiting a company from owning two television networks.
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