Pepsi Bottling's IPO Priced at $23 a Share, on Low End of Range

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Pepsi Bottling Group

(PBG:NYSE), the primary bottler for

PepsiCo

(PEP) - Get Report

, said its 100 million-share IPO -- one of the biggest in history -- priced at $23 a share. The price is at the low end of the offering's range of $23 to $26. An additional 15 million shares could be added to the offering -- handled by

Merrill Lynch

and

Morgan Stanley Dean Witter

-- should there be the demand.

In other postclose news (earnings estimates from

First Call

; earnings reported on a diluted basis unless otherwise specified):

Earnings/revenue reports and previews

Agribrands

(AGX) - Get Report

reported second-quarter earnings of 72 cents a share, beating the single-analyst forecast of 66 cents and topping the year-ago 19 cents.

Bed Bath & Beyond

(BBBY) - Get Report

reported fourth-quarter earnings of 24 cents a share, 2 cents above the 16-analyst estimate and ahead of the year-ago 17 cents.

Burlington

(BUR)

is comfortable with the six-analyst outlook for second-quarter earnings of 3 cents a share. The company earned 40 cents in the year-ago period.

Cerprobe

(CRPB)

warned it sees first-quarter earnings of 2 cents to 4 cents a share, saying the industry is recovering more slowly than anticipated. The single-analyst forecast called for 13 cents vs. the year-ago 32 cents.

Cowlitz Bancorp

(CWLZ)

warned it sees first-quarter earnings of 1 cent or 2 cents a share due to higher loan losses. The single-analyst view called for a repeat of the year-ago 14 cents.

Dyersburg

(DBG)

said it expects to post a second-quarter loss of 18 cents to 21 cents a share because of lower-than-expected sales in its Dyersburg Fabrics unit. The single-analyst estimate called for earnings of 11 cents vs. the year-ago profit of a dime.

Etec Systems

(ETEC)

said it will post a third-quarter loss of 35 cents to 45 cents a share, including charges it will record after cutting 90 jobs, or 8% of its semiconductor products group workforce. Excluding the charges, Etec expects earnings of 10 cents. The 12-analyst view called for earnings of 26 cents vs. the year-ago profit of 47 cents.

Finish Line

(FINL)

posted fourth-quarter earnings of 27 cents a share, 3 cents higher than the 14-analyst prediction but below the year-ago 37 cents.

Inmark Enterprises

(IMKE)

said it expects fourth-quarter earnings to fall below the single-analyst estimate for 17 cents a share because of the deferment of anticipated sales to next year's earnings. The company earned 21 cents in the year-ago period.

Intraware

(ITRA)

posted a fourth-quarter loss of 21 cents a share, narrower than the three-analyst outlook for a loss of 25 cents but wider than the year-ago loss of 13 cents.

Midway Games

(MWY)

warned it sees third-quarter earnings of 1 cent to 3 cents a share due to lower home video game revenue. The nine-analyst forecast called for 13 cents vs. the year-ago 18 cents.

Morrison Knudsen

(MK)

reported first-quarter earnings of 17 cents a share, in line with the five-analyst estimate and above the year-ago 15 cents.

MSC Industrial Direct

(MSM) - Get Report

posted second-quarter earnings of 22 cents a share, on target with the 10-analyst prediction and above the year-ago 17 cents.

Novamerican Steel

(TONSF)

reported first-quarter earnings of 24 cents a share, a penny ahead of the two-analyst forecast and above the year-ago 18 cents.

NTL

(NTLI)

announced a 1998 loss of $12.69 a share, wider than the single-analyst outlook for a loss of $12.57 and the year-ago loss of $10.60.

Nucor

(NUE) - Get Report

said it's comfortable with first-quarter earnings estimates of 32 cents a share, 1 cent above the 16-analyst but below the year-ago 74 cents.

Pameco

(PCN) - Get Report

expects to record a fourth-quarter charge of $12 million to $15 million due to the writeoff of certain capitalized training and software costs.

Safety-Kleen

(SK)

posted second-quarter earnings of 19 cents a share, matching the seven-analyst expectation and beating the year-ago 8 cents.

Simula

(SMU)

reported a fourth-quarter loss of 70 cents a share, missing the two-analyst forecast for earnings of a penny and wider than the year-ago loss of 2 cents.

Sportman's Guide

(SGDE)

said it expects first-quarter earnings to come in at or slightly above the single-analyst estimate of 8 cents a share. The company made 16 cents in the year-ago period.

Tech Data

(TECD) - Get Report

reported fourth-quarter earnings of 64 cents a share, 2 cents ahead of the 16-analyst view and above the year-ago 53 cents.

Technology Solutions

(TSCC)

said it expects to record a break-even first quarter and that it plans to cut 300 positions. The company said the layoffs will result in a quarter charge of $11 million to $12 million. The nine-analyst prediction called for earnings of 10 cents vs. the year-ago 13 cents.

Mergers, acquisitions and joint ventures

Hussmann

(HSM)

said it completed its $145 million acquisition of

Grupo Koxka

and that it will record a first-quarter charge of $10 million for losses associated with the acquisition.

Shareholders of

Ocean Energy

(OEI)

and

Seagull Energy

(SGO)

approved the companies' proposed $1.1 billion merger.

Offerings and stock actions

Anixter

(AXE) - Get Report

said it will repurchase 1 million shares.

Miscellany

ING Baring Furman Selz

lowered

BP Amoco

(BPA)

to sell from hold.