Interest-rate-sensitive savings and loans lost ground in...
Interest-rate-sensitive savings and loans lost ground in the stock market last week amid rising interest rates in the bond sector, according to Irving Katz, director of research at San Diego Securities.
Great American First Savings Bank was down 1 1/8 to 17 5/8, adjusted for the 3-for-2 stock split that took effect Monday.
Home Federal Savings & Loan was down one-half, while Imperial Corp. of America and Sun Savings & Loan were down one-eighth.
Rohr Industries dropped 3 for the week, to 29 7/8, on unexpectedly lower quarterly earnings.
Cubic was down three-fourths, to 19, as additional analysts lowered their earnings estimates for 1986, according to Katz.
San Diego Gas & Electric rose seven-eighths to 33 3/4, as it began a toll-free news line telephone number to keep shareholders and others informed of its latest stock quotes and news.
IRT rose one-fourth to 9, after reporting the expected fourth-quarter and year-end loss of $1.02 per share. The company expects to be profitable this fiscal year.
Titan, whose president, Gene Ray, will speak to the Financial Analysts Society of San Diego on Wednesday, was down three-fourths, to 9 3/4, as it completed another in a long string of acquisitions.
Handyman dropped 2 1/2, after showing minuscule sales comparisons for the first 16 weeks of the fiscal year and after reporting an after-tax loss of 6 cents per share.
Intermark rose seven-eighths to 17 3/4 after a 1-point rise the previous week. The company, Katz said, benefited from an increase in the price of its majority-owned Pier One, which hit a new high of 26 1/2 on Monday.
Molecular Biosystems rose eleven-sixteenths to 5 1/8, as DuPont continued to increase the scope of the two firms’ relationship.