Stock drops were as prevalent as gains...

Stock drops were as prevalent as gains among some San Diego companies last week, according to Irving Katz, director of research at San Diego Securities.

Integrated Software Systems’ stock has dropped 4 points in the last two weeks, following the company’s announcement of lower fourth-quarter earnings and flat profits for the year.

Western Health Plans fell another half a point, to 6. The stock price is now close to the $5.33 original offering price, adjusted for a three-for-two stock split. The stock is down substantially from its 15 7/8 high in mid-1985. The physicians who practice in the plan control 78% of the company’s stock, Katz said.

Home Federal Savings & Loan Assn., despite record earnings announced Monday, dropped three-quarters of a point for the week, as traders engaged in profit-taking by selling stock.

Handyman dropped one-quarter of a point for the week, as Home Club and Home Depot moved into Handyman’s home ground, Katz noted.

Beeba’s Creations dropped one-quarter of a point, despite announcement of a $20-million purchase of Segue and a planned secondary stock offering.

Several San Diego firms showed slight gains or remained unchanged despite announced developments last week, Katz said.

Cubic Corp. rose three-eighths of a point for the week after taking $4 million in write-offs for the first quarter for scheduling delays in an Air Force simulator training system contract.

Decom Systems, which reported a first quarter profit following last year’s loss, gained one-eighth of a point, while Infrasonics hit a new high of 1 3/8 as the company prepared to separate its units into stock and warrants that will trade separately.

Price Co., which closed last week at 71 1/2 before its two-for-one stock split took effect, rose immediately to an equivalent of $80 on the old stock, as it hit a new high of $40 on the split stock.

Mission West Properties raised its dividend by 1 cent, but the stock remain unchanged.

Sun Savings & Loan stock remained unchanged at 3 7/8 for the week, despite a 7.4% open-market stock buy last month by a New Jersey developer who is also the president of the Hialeah race track in Florida.