Stock prices of three San Diego companies plunged in the last week, the result of negative news, according to Irving Katz, director of research at San Diego Securities.
Cohu, which Monday reported an expected fourth-quarter loss and a drop in year-end earnings, closed the week down 2 3/8. The stock dropped 2 1/8 on Monday alone, Katz said.
Western Health Plans was down 1 3/8 to a new low and a drop of 30% for the year, an example that "excuses aren't a substitute for earnings," said Katz.
International Totalizator Systems stock reacted to the company's losing the California Lottery contract, closing down 1 5/8 to 7 5/8.
Intermark hit a new high of 18 1/8, with analysts anticipating that the company's acquisition of Fuqua Industries' 20% interest in Triton Group Ltd. will be just as successful as its purchase from Fuqua of Pier One.