San Diego stocks joined in the general downward movement last Friday and Monday, according to Irving Katz, director of research for San Diego Securities.
There was very little news to account for all of the downturns, but there was one surprise generated by a San Diego stock: Henley Group announced the purchase of 7.9 million shares, or 4.9%, of Santa Fe Southern Pacific Corp. for what Henley described as "investment purposes." Whether or not Henley is considering a takeover, Santa Fe Southern Pacific stock rose 1 7/8 to 38 in a market where the Dow Jones average plummeted by 57.38 points.
The Henley Group previously had announced a larger than anticipated $426-million net loss for 1986, reflecting the company's restructuring program and amortization charges. The stock fell an eighth of a point for the week to 26, Katz said.
Price Co. stock, which had moved up to 51 on a good earnings report and in reaction to its recent New York acquisition, was hit by selling and closed on Monday at 46 3/4.