Mixed market prices were buffeted by quarterly...
Mixed market prices were buffeted by quarterly earnings reports, annual meetings and a good-news/bad-news week for several San Diego stocks, according to Irving Katz, director of research at San Diego Securities Inc.
Home Federal was down 1 3/4 to 32 3/8 as the market continued to react to less-than-expected first-quarter results.
Great American First Savings Bank was unchanged after reporting surprisingly higher first-quarter earnings as it awaited its secondary stock offering, said Katz.
Oak dropped three-eighths, to 1 5/8, after it re-extended the deadline for its debt-for-stock offering that will lead to a much-needed infusion of capital by Allied-Signal.
PSA was down 1 to 30 1/2 as the company’s redemption of convertible debentures and convertible preferred stock continued to push the stock down.
San Diego Gas & Electric dropped one-half, to 32 3/4, as it reported flat earnings after adjusting for the capital gain on its sale of Energy Factor stock.
Titan was down one-half after reporting a profitable first quarter, and Handyman hit an all-time high of 29 7/8, despite only a 0.8% sales gain in the first 16 weeks of the year.
Mission West Properties rose another 2 5/8 to 12 3/4 in continued reaction to the sale of its Del Mar property.
Intermark, which controls 50% of Mission West, dropped three-quarters to 17 7/8.
IRT rose 2 3/8 to 10 1/2, recovering completely from the departure of Chairman Robert Mertz and a loss in the fourth quarter.
Infrasonics rose one-half, to 3, tripling its price this year as the company appears to be close to profitability, Katz said.
Maxwell was up three-quarters to 15 3/4 after running up to 17 and then retreating.
National Micronetics dropped three-eighths, to 3 1/8, as it reported continued losses.
Synbiotics was down 2, to 13, on profit taking after a sharp run in the last few months, Katz said.