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

Publish date:

Pepsi Bottling Group

(PBG:NYSE), the primary bottler for


(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


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


(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.



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.



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


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.



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


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


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


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.



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


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


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


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



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.


(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.


(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.



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



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


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


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



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



Seagull Energy


approved the companies' proposed $1.1 billion merger.

Offerings and stock actions


(AXE) - Get Report

said it will repurchase 1 million shares.


ING Baring Furman Selz


BP Amoco


to sell from hold.