San Diego stocks that have shared in the market boom this year were the hardest hit by the latest decline, according to Irving Katz, director of research at San Diego Securities.
Affected by profit-taking were Home Federal Savings & Loan, down nearly 4 points from the all-time high last week, and Great American First Savings Bank, down 2 from its all-time high, also reached last week.
Both financial institutions were hit by a market awaiting another round of interest rate cuts by the Federal Reserve Board.
Price Co. dropped 2, to 44. The company's stock has declined 11 from its yearly high, on continued profit-taking and a slowing of earnings growth rates.
Computer and Communication Technology Corp. dropped 6 to 5 after last week's disclosure that its sale of Zeta Labs to Whitaker had to be rescinded because of "irregularities." The drop in stock price proved Chairman and Chief Executive Officer E.T. Bahre's prediction that the "adverse impact" on the company would be "substantial."
BSD Bancorp rose three-eighths, as executives continued their tour of Amex clubs, explaining its viewpoint that its stock shouldn't be selling at a 40% discount from book value, according to Katz.
Intermark was down seven-eighths, in sympathy with its Pier 1 holdings. The company also announced a 4-for-3 stock distribution of a new issue of participating preferred stock, with a voting power of 10 votes per share.
Southwest Bancorp rose one-quarter to 3 7/8. Management will speak July 15 to the Amex Club of San Diego.
Kaypro rose one-quarter to 2 after its second consecutive profitable quarter, earning 2 cents per share. The company reported a loss for the nine-month period.
Profit-taking hit Mail Box Etc., as the stock closed at 15 3/4, down 2.
Synbiotics, which holds its annual meeting Thursday at the Rancho Bernardo Inn, dropped three-quarters, as the market awaits its secondary stock offering, according to Katz.
Energy Factors rose seven-eighths to 22 3/8 and WD-40 rose one-quarter following its dividend increase to 28 cents per quarter, or a return of 4.3% on the present price of the stock.