Advertisement

With the Dow Jones industrial average advancing...

Share

With the Dow Jones industrial average advancing more than 100 points during each of the past two weeks, San Diego stocks had no place to go but up, according to Irving Katz, director of research for Thomas Green/San Diego Securities.

There seems to be no doubt that a year-end rally has begun, but “the question is how long it will continue,” according to Katz.

The star of the week was WD-40, which gained 5 1/2 to 29 as it announced first-quarter earnings of 48 cents per share versus 44 cents per share in the previous first quarter. First-quarter sales increased to $18.1 million from $16.5 million.

Advertisement

WD-40 also announced an increase in the quarterly dividend to 35 cents per share from 33 cents per share.

Another good mover was Price Co., which in two weeks has moved from its low of 23 1/2 two weeks ago to close with a gain this week of 3 3/4 to 32 3/4.

Mail Boxes Etc. also made a strong comeback, gaining 3 to 11 1/2.

The county’s savings and loans, which have been battered during recent months, joined the party, according to Katz. Great American First Savings was up 2 1/8 to 12 7/8; Home Federal Savings & Loan was up 2 to 21 3/4, and Imperial Corp. of America was up 1 to 8 3/8.

Other good gains were made by Precision Aerotech, up 1 1/2; CCT Corp., up 1 7/8; Maxwell Laboratories, up 1 1/2. TCS Enterprises, which announced a stock buyback, was up 1.

Triton Group, controlled by La Jolla-based Intermark, sold its Simplicity Pattern Division for $117.5 million, resulting in a gain of $40 million. The stock, which has been trading over the counter in the 7 to 8 range, moved quickly to 12. Triton, which recently was listed on the New York Stock Exchange, closed the week up 1 3/4 to 9 3/4.

Advertisement