Moving little in either direction, San Diego...

Moving little in either direction, San Diego stocks seem to have joined the rest of the market in treading water last week, said Irving Katz, director of research at Thomas Green/San Diego Securities.

Two new 1989 highs were recorded, however, by Infrasonics at $3.625 and International Totalizator at $5.25. Infrasonics, which manufactures hospital respirators, has been increasing its market share as it expands its line to include both children’s and adult models. International Totalizator demonstrated a new airline ticketing terminal at a travel show in Dallas.

The only good gainer for the past week was Molecular Biosystems which was up by more than $3 to $19.375. The company whose stock has been depressed recently expects to gain approval to market its cardiac imaging agent early next year.

Stocks on the down side included Rohr Industries, which reported disappointing fourth-quarter earnings of $.47 a share, versus $.52 last year, on increased revenues of $304 million, versus $254 million the previous year.

Rohr’s downturn in earnings was attributed to pressure on profit margins because of program introductions and changes on military projects. Rohr’s commercial aircraft backlog was up 38% to $2.2 billion. For the fiscal year ended July 31, earnings were up to $1.90, from $1.85 the previous year.

At its present price, Rohr stock is is selling at 16.5 times earnings per share, a rich multiple for a company having difficulty in showing earnings growth, Katz said.

Supercomputing Solutions, formerly named General Microelectronics, has filed for a public stock offering of 2 million shares through Gruntal & Co.

Smith Laboratories closed unchanged despite naming Timothy Wollaeger, formerly of Hybritech, as president. Wollaeger, who terminated the sale of Smith’s Sutter Corp. subsidiary to RTI, is looking to accelerate its merger with International Power Machines Corp. of Garland, Tex.