San Diego stocks as a group seem...
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San Diego stocks as a group seem to move in a market of their own unrelated to the Dow Jones Industrial Average or the general market, said Irving Katz, director of research at Thomas Green/San Diego Securities.
For example, Mail Boxes Etc. was up $2.75 for the week, reaching a new high for the year of $23.50 despite the paucity of news from the company. On the other hand, HomeFed Corp., which reported excellent second-quarter earnings as forecast, dropped $2.875 on the week. Meanwhile, First National Corp. gained $1.25 on a good earnings report.
New highs were recorded by Monitor Technologies, which received an $8-per-share buyout offer from Lear Siegler, and Mycogen, which reported superior sales of its M-One biopesticide.
Synbiotics, which holds its annual meeting Thursday and whose cash holdings as of March 31 were in excess of $3 a share, fell to a new low of $3.25.
Annual meetings this week include Xscribe today; Synbiotics, Advanced Marketing Services and Molecular Biosystems on Thursday, Pancretec on Friday and Intermark on Saturday.
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