Region’s Stocks Surge 12% in 3rd Quarter, Outstripping Market Indexes
A composite index of local stocks surged 12% in the third quarter that ended Sept. 30, surpassing several national stock indexes, including the Dow Jones Industrial Average, which rose 5.1% in the same period.
For the quarter, the S & P 500 climbed 7.3% while the NASDAQ index of over-the-counter stocks climbed 11.8%.
Seventy-seven of the 105 companies tracked in the San Fernando and Santa Clarita valleys, and Ventura County saw their share prices climb in the third quarter, according to Media General Financial Services of Richmond, Va.
Leading the pack was California Amplifier Inc., a Camarillo-based company that makes components for wireless cable television networks.
This once-sleepy defense company decided to enter the wireless cable market several years ago and has been growing rapidly ever since. Its success is owed in part to overseas sales, driven by demand from less developed nations seeking to build communications infrastructure using wireless technology, said Michael Ferron, California Amplifier’s chief financial officer.
Other strong performers included Premiere Radio, a radio programming syndicator, and Vitesse Semiconductor, which makes electronic switches for fiber-optic communications networks.
Shares in Premiere rose 76% to $20.50 as the company posted 45% earnings growth. An investment concern backed by Rupert Murdoch and Michael Milken recently acquired a 44.7% stake in Premiere.
Vitesse was continuing a growth spurt fueled by efforts to upgrade communications infrastructure.
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10 Biggest Regional Stock Winners for 3rd Quarter
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Closing Percent price on change in Stock 9/30/95 3rd quarter Line of business California Amplifier $20.88 +104 Electronics Vitesse Semiconductor $14.25 +87 Semiconductors Premiere Radio $20.50 +76 Radio programming Hemacare $4.50 +71 Blood products Semtech $27.75 +66 Telecommunications Micom $10.63 +64 Telecommunications MRV Communications $21.38 +60 Telecommunications Dolco Packaging $24.00 +48 Packaging Ventura CN Bcp $3.81 +45 Banking Cherokee $4.25 +45 Clothing
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Note: Excludes stocks whose June 30, 1995, price was $2.50 a share or less
Source: Media General Financial Services Inc., Richmond, Va.
10 Biggest Regional Stock Losers for 3rd Quarter
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Closing Percent price on change in Stock 9/30/95 3rd quarter Line of business Rexon $.50 -90 Computer storage New Image Ind $2.00 -49 Dental cameras Janex Internat $1.75 -35 Children’s products Harmony Holdings $2.56 -27 Television Incomnet $11.00 -27 Telephone services Matthews Studio $2.13 -26 Equipment rental Variflex Inc $9.25 -23 Skates Reddi Brake $2.94 -23 Automotive Special Devices $17.25 -23 Automotive Interlink Electronics $10.88 -21 Computer peripherals
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Note: Excludes stocks whose June 30, 1995, price was $2.50 a share or less
Source: Media General Financial Services Inc., Richmond, Va.
