Evening Update: NRG Energy IPO Priced Below Range at $15 a Share

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Salomon Smith Barney

priced 28.17 million shares of

NRG Energy

(NRG) - Get Report

at $15 a share, below the estimated $16 to $18 range. The company is a wholly owned unit of

Northern States Power

(NSP) - Get Report

, 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

Finisar

(FNSR) - Get Report

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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Miscellany

Steel container maker

U.S. Can

(USC)

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.

The

Federal Communications Commission

said it will soon propose easing rules that require

Viacom

(VIA) - Get Report

to sell off some television stations as part of its acquisition of

CBS

. The FCC said the proposal would also loosen rules prohibiting a company from owning two television networks.

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