Merrill Lynch said pretax second-quarter earnings will be reduced by about $275 million--$25 million more than previously thought--because of large losses from bond trading that have been disclosed in the past few weeks . . . Reebok International said its subsidiary, Rockport Co., acquired closely held John A. Frye Co., a boot maker with annual sales of about $20 million. Terms were not disclosed . . . Coca-Cola said it has agreed to pay $62.5 million for a 20% interest in Coca-Cola Bottling Co. Consolidated, an independent bottler based in Charlotte, N.C.