Last week’s market surge carried some San...
Last week’s market surge carried some San Diego company stocks to all-time highs, and two stocks jumped by six points, according to Irving Katz, director of research at San Diego Securities Inc.
Largest gainer was Beeba’s Creations, which, after successfully selling 1 million shares at 18 1/8--half of them new shares and half existing stock--rose 6 3/8 to close at 24 1/2. The stock had traded in the 17 to 20 range pending the offering.
Price Co. also recorded a six-point gain, hitting a new post-stock-split high of 54 3/4. The rise followed favorable articles in last week’s Los Angeles Times and New York Times, as well as various recommendations and forecasts on Wall Street, Katz said.
Handyman reached a new high of 34 1/8, up 4, riding the coattails of other home improvement companies, which made “major moves” last week, Katz said.
Area savings and loans also benefited from the market rise, as Home Federal Savings & Loan rose 2, Great American First Savings Bank jumped 1 and Imperial Corp. rose one-half.
PSA, mentioned last week in a Forbes magazine piece as a possible buy-out or merger candidate, rose three-eighths for the week. At their annual meeting last week, company officials denied the company is the target of any such moves.
Oak Industries was down one-eighth, despite continuing record trading volume in the company’s stock.
Titan was up three-quarters after announcing another in a long string of acquisitions.
Intermark rose 1 point this week after reporting a loss for the year and the acquisition of Rush Press.
Computer & Communications Technology held its first annual meeting as a San Diego company last week. The stock rose five-eighths following the company’s announced acquisition of Acton for $29.5 million.
Symtek Systems rose 1 on a favorable brokerage report by Eberstadt Fleming Co.
International Robomation dropped 1, even though it reported its first-ever profitable year.
Synbiotics became profitable in the fourth quarter, although it reported a yearly loss. The stock dropped one-quarter as the company awaited a secondary offering of 1 million shares.
