Despite a tired stock market, nine San...

Despite a tired stock market, nine San Diego stocks reached new highs during the past week, said Irving Katz, director of research at Thomas Green/San Diego Securities.

Two of those were Home Federal, at $31, and Great American, at $14.25. Both savings and loans were up on news of President Bush’s plan to salvage the thrift industry by removing barriers discouraging commercial banks from acquiring both healthy and unhealthy thrifts.

Other new highs were made by smaller banks, possibly in anticipation of acquisitions or mergers along the lines of the announced merger of Southwest Bank and Security Pacific Bank. La Jolla Bancorp made a new high of $9.25 and First National Corp. reached a new high of $12.875.

In the non-financial area, Magma Power hit a new high of $17.875 after announcing the start of commercial operations at two geothermal plants under power-purchase contracts with Southern California Edison.

DH Technology recorded a new high of $7.25 as it announced fourth-quarter earnings of $.22 per share, contrasted with $.12 the previous year, and full-year earnings of 65 cents as opposed to 58 cents the previous year. The stock is now selling at 10 times those earnings.

Other new highs were made by Rohr Industries, at $34.50, Henley Group “A,” at $74.25 and Cohu, at $14.375.

Annual meetings this week include Cubic at 10:30 a.m. today at the Stardust Hotel and Wavetek at 10 a.m. Thursday at the La Jolla Marriott.