Nine Local Stocks Follow Dow Jones to New Highs

Nine San Diego stocks hit new highs this past week as local companies benefited from the Dow’s all-time high, according to Irving Katz, director of research at San Diego Securities.

Among the new highs were Great American First Savings Bank, at $26 3/8 and Home Federal Savings & Loan at $33, as interest rates remained stable and the bond market continued strong.

Meanwhile, San Diego Gas & Electric hit a new high of $29 7/8 as it announced a 12% jump in 1985 profits and the possibility of a $210 million write-off if an appeal to the Public Utilities Commission over the Southwest Powerlink is rejected.

Titan Corp., announcing acquisitions on a near-weekly basis, hit a new high of $11 3/8. The company said Monday it had agreed to buy Meteor Communications Corp.

While BSD Bancorp, which rebounded from 1984’s loss to report a profit in 1985, made a new high of $3 3/4.

Cohu hit a new high of $12 1/8, but closed at $11 3/8 with no news forthcoming.

Beeba’s Creations reached a new high of $20 as analysts expected a larger improvement in earnings this fiscal year.

Infrasonics reached a new high of $1 as the company inches closer to profitability.

Synbiotics reached a new high of $17 3/4, in response to the announcement of its rapid diagnostic detection test for chlamydia.

Other stocks moved up this past week, although not to new highs, Katz said. Among them: Price Co. rose $2 1/2, as the market awaited the forthcoming two-for-one stock split; Personal Computer Products rose $1 1/2 to $8 1/2 on expectations of a better year, and IRT Corp. reported a nine-month loss of 43 cents compared to a profit last year, but the stock moved up to $9 nonetheless as the company said it expected delivery of its first automated quality inspection machines.