Stock market weakness was expected to thin last night's scheduled pricing of Owens-Illinois Inc.'s initial public offering to $11 a share, a drop from the $13 to $16 the company had hoped for, high-yield analysts said.

"They had to start the planning before the market softened, and there is a factor of luck that does not always move with a new issuer," Jim Potesky, a rating officer with Standard & Poor's Corp., said yesterday.

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