Advertisement

The Dow Jones industrial average rose 89...

Share

The Dow Jones industrial average rose 89 points in the four days after the Ivan Boesky affair, with the market closing above 1,900 for the first time since Sept. 4.

In San Diego, institutional favorites led the way, according to Irving Katz, director of research at San Diego Securities.

Price Co. rose 2 3/4 to 36, Home Federal Savings & Loan jumped 1 1/2 to 26 7/8 and WD-40 rose 1 1/2 to 28.

Advertisement

SDG&E; rose three-eighths to 36 5/8, despite announcing a possible charge of $1.37 per share from the PUC’s disallowance of San Onofre construction costs. The utility’s dividend will not be affected, however.

Synbiotics rose 1 to 8 in continued response to FDA approval to the firm’s chlamydia product.

Maxwell Laboratories rose 1 to 13, after announcing sharply higher earnings--25 cents per share versus 16 cents--for the first quarter.

Pacific Southwest Airlines rose 1 to 9 and PS Group increased three-fourths to 31 1/2 on continued merger speculation.

Energy Factors was this week’s casualty, Katz said, as the stock fell 5 1/2 to 12 3/4. The company forecast lower fourth-quarter earnings as general and administrative costs have increased because of a recent acquisition and costs associated with development activity. Also increasing costs was interest on the firm’s $80.5-million convertible debenture, which sold last December. Energy Factors also said it was considering additional financing early next year and mentioned, for the first time, that one-third of its third-quarter earnings were generated from tax credits, which will also significantly help fourth-quarter earnings.

Henley Group was down five-eighths to 20 3/4 on sharply increased volume. Management was voted permission to buy more than 5 million shares at $21.25 per share at a special shareholders meeting last week. The purchase will be financed from money advanced from the corporation at favorable interest rates, Katz said.

Advertisement
Advertisement