The flood of corporate earnings reports this...

The flood of corporate earnings reports this month had little affect on San Diego stocks, unless the profits were higher than anticipated, according to Irving Katz, director of research at San Diego Securities.

WD-40 turned in a sparkling fourth-quarter report, Katz said, earning 55 cents per share compared to 35 cents per share in last year’s fourth quarter, higher than analysts’ expectations of between 40 and 45 cents. The company’s stock rose 2 3/4 points for the week, as analysts factored in next year’s beneficial tax rate and the increase in revenues and earnings of its international division, Katz said.

Where earnings results came in as expected, there was little movement in the underlying stocks. Earnings gains by Great American First Savings Bank and Home Federal Savings & Loan, which were expected, resulted in a three-eighths loss in each stock, while Imperial Corp. of America remained unchanged.

SDG&E; was down three-eighths to 35 1/8, despite rumors--which were denied--of a merger with Southern California Edison, Katz said.

Handyman rose 3, as the market decided that liquidation value was higher than the 44 price level of recent weeks.

GTI rose one-quarter, despite another quarterly loss and the announcement of its largest single order in history from IT&T.; There’s been no recent word of the company’s liquidation plans since the original announcement.

Telequest hit a new low of 6 in continued response to poor earnings prospectus, said Katz.

Two new additions to our stock market list this week are Henley Group, the none-earning spinoff of Allied-Signal, and Triton Group, which Intermark effectively controls. Both companies have relocated to La Jolla.

Annual shareholder meetings this week include Infrasonics, Cipher Data Products and Pancretec, Katz said.