While the Japanese stock market averages move...

While the Japanese stock market averages move up and down chaotically, U.S. stocks continue to hold their own on low volume, said Irving Katz, director of research at Thomas Green/San Diego Securities.

The time is drawing near for U.S. companies to release their first quarter earnings, and expectations are that many of them will report a decline in profits, Katz said. As a result, American stocks continued to show little change in price.

San Diego stocks seem to be dividing into two tiers, with the only major movements of one point or more, up or down, being made by the stocks of larger companies that have attracted institutional investors. In contrast, smaller capitalization stocks are hardly moving in price, Katz said.

On the upside this week were: Magma Power, gaining back the $2 it lost the previous week; Xytronyx, up $1.375, and Chart House Enterprises and Cubic Corp., each up $1.25.

On the downside, Price Co. stock reacted to its recently reported flat second-quarter earnings, dropping $2; Rohr Industries, one of the unfavored defense stocks was down $1.875, and HomeFed Corp., Maxwell Laboratories and Molecular Biosystems, each were down $1 .

New lows were recorded this week by Advanced Marketing Services at $5.75; Agouron Pharmaceuticals at $8, and Synbiotics at $3.125.

A good gain was made by Beeba’s Creations, up $.375 after reporting excellent second-quarter earnings of $.27 per share, versus $.22 for the comparable quarter last year.

Computer & Communications Technology (CCT) was the largest percentage gainer of the week, gaining $.375 to close at $.875 as it announced it would merge with Sunward Technologies, a private company. Sunward will own 55% of the outstanding stock of the combined companies.