With an indecisive market continuing to trade...
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With an indecisive market continuing to trade in a narrow range, San Diego-based stocks had difficulty making up their minds which way to go last week, according to Irving Katz, director of research for Thomas Green/San Diego Securities.
The week brought mostly fractional changes, Katz said, but a heavy number of new highs and lows.
One new high was reported by Molecular Biosystems, up $2.125 to $15.125, as it announced good results with its ultrasound cardiac imaging agent.
Rohr Industries made a new high of $33.25 and closed the week up $1.625 to $31.75. The stock is selling at about twice its 1988 low of $16.375.
Pancretec continued to move higher, rising $.625 to $5 after making a new high of $5.375. Its 1988 low was $1.50.
Cohu Inc., after hitting a new high of $12.375, was up $.375 to $11.75 for the week, Katz said.
San Diego Gas & Electric was close to its 1988 high as it gained $.50 to $33.50. Analysts are looking favorably upon SDG&E;’s proposed merger with Tucson Electric Power, Katz said.
New lows were made by International Robomation, which was down $1 to $1.375. CCT Corp. was down $.625 to $4.25 and Kaypro was down $.9375 to $.50.
Cousins Home Furnishings touched its previous low at $1.875.
Earnings reports issued during the past week had mixed effects on some San Diego stocks, Katz said. Mail Boxes Etc., which reported higher earnings of $.72, compared with $.59 a year ago for its fiscal year, fell $1.25 to $13. Price Co., which reported a 26.6% increase in earnings, gained only $.125 to $39.625. WD-40, which reported third-quarter earnings of $.38, compared with $.31 a year ago, gained $.75 to $29.75.
The only annual meeting scheduled for this week is Sym-Tek Systems, at 9:30 a.m. Thursday.
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