Last week’s roller-coaster stock market left some...
Last week’s roller-coaster stock market left some San Diego companies riding all-time stock-price highs, while others saw steep drops, according to Irving Katz, director of research at San Diego Securities.
Home Federal Savings & Loan rose 4 1/8 to 37 3/4, an all-time high. Great American First Savings Bank was up 1 to 19 and Imperial Corp. of America rose one-quarter to 15, after reaching a new high of 15 1/2 on increased Wall Street estimates.
These savings and loans sell at a much lower price/earnings ratio than the Standard & Poor’s and Dow Jones average stocks, Katz said.
SDG&E; was up one-half to 34 3/4 after hitting a new high of 35. The stock was ex-dividend on June 16--meaning that the next dividend will not be included to investors who buy stock after that date--and the utility also said it was refunding some of its high-interest bonds.
Intermark reached a new high of 18 1/2 as it continues to move in sympathy with majority-owned Pier 1, which consistently hit new highs last week, Katz said.
Molecular Biosystems hit a new high of 7, but closed the week at 6 after announcing a new AIDS test at the Second International Conference on AIDS in Paris.
Price Co. dropped 4 1/2 to 46--although it had dropped to as low as 44--on a quarterly earnings increase of 10%, below the 30% or so analysts had predicted, Katz said. In addition, Pace Membership warehouses said it will soon open four stores in the Los Angeles area to compete with Price Clubs.
Cipher Data Products dropped two more points to 15 1/2. In the past month, the stock has dropped 25%.
National Micronetics was down one-half to 2 1/8, selling close to its low of 2. The stock has dropped from 3 since June 9.
Langley Corp. officials will address San Diego Stock and Bond Club members today, and BSD Bancorp kicks off its tour of AMEX Clubs on Friday in San Francisco.