Despite the recent sideways movement in most...

Despite the recent sideways movement in most San Diego stocks, two local stocks managed new highs, according to Irving Katz, director of research for Thomas Green/San Diego Securities.

Advanced Marketing Services reached a new high of $17.25, and Mission West Properties hit a new high of $9.375.

There was a flurry of activity in some savings-and-loan stocks. Imperial Corp. of America was up $1.50 and Great American First Savings Bank $.75.

It was revealed that Great American holds 813,678 shares of the preferred stock of the Federal Home Loan Mortgage Corp., or Freddie Mac, at an average cost of $66.92 a share. At last week’s close of $138, the stock was worth more than $112 million, or $4.82 a share of Great American, Katz said.

This would represent a profit of $2.47 a share for Great American should the shares be sold. Great American, however, reiterated that it has no intention of selling these shares, Katz said.

First National Corp. gained $.25, to $9.75, upon the revelation that one of its major shareholders, Frank Goldberg, had purchased an 60,000 more to increase his holdings to 254,742, or 9.66% of the bank’s stock.

Stocks on the downside included Henley Group, down $1.125, and Price Co., down a like amount on apparent profit-taking. La Jolla Bancorp, which announced that it is now the county’s second-largest bank, dropped $.50 to $6.75.

Precision Aerotech dropped $.375, to $4.375, after announcing fourth-quarter earnings of $.06, against $.11 for the corresponding quarter of the previous year, and earnings for the year ended April 30 of $.20, against $.55 the previous year.

Intermark fell $1.125, to $12.625, as its Pier 1 subsidiary terminated discussions with prospective buyers and decided to remain independent. Each share of Intermark represents 1.52 shares of Pier 1, according to Katz.