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SAN DIEGO MARKET WATCH

July 14, 1987

While the major averages continue to make new highs, or sell close to their all-time record highs, only two San Diego stocks have managed this feat in the past week, according to Irving Katz, director of research for San Diego Securities Inc.

Henley Group Inc. gained 1 5/8 to 26 7/8 after announcing that it would be selling a minority interest in Wheelabrator Technologies Inc. in a public offering, Katz said. Henley also gained on the strength of its Fisher Scientific Group Inc. subsidiary, which made a new high of 20 for the week. Fisher, which gained 1 to close at 18 3/4, announced $50 million in orders for laboratory and testing equipment.

Cubic Corp. was up 1 to 21 1/8 after announcing that it had received a government contract to supply five air combat training ranges. Late Monday, however, the company said that the announcement was "premature." Cubic also was favorably discussed by a First Boston Corp. analyst, who estimated a breakup value in excess of $30 per share. However, a breakup "appears unlikely at this time," according to Katz.

Price Co. was up strongly, gaining 2 3/4 to 48 as the only profitable "pure play" in the wholesale club business.

International Totalizator Systems Inc. gained one-half to 5 on the receipt of a million-dollar add-on to a British contract for race track wagering equipment, and a positive recommendation by an obscure Florida investment letter, in which earnings were forecast to be 28 cents a share in 1987 and 47 cents in 1988. The letter also predicted a high for the stock of 12 in 1988, Katz observed.

Burnham Pacific Properties gained three-eighths to 16 as underwriters exercised an over-allotment clause that increased Burnham's recent successful offering to $23 million in 8.5% convertible debentures.

Guild Mortgage Investment Co., which will be speaking to the investment community today at an AMEX meeting, gained a quarter to 9 1/2.

Intermark Inc. was up 1 to 13 1/2, where it still sells at a substantial discount from its actual book value. Energy Factors Inc. was up five-eighths to 9 as it broke ground with CRS Sirrine to construct a $25-million power plant in McBain, Mich.

IRT Corp. hit a new low, down five-eighths to 4, as the company's expected turnaround remains elusive, Katz said.

Molecular Biosystems Inc. dropped 1 1/2 to 9 3/8 as profit-taking depressed the stock despite the company's announcement last week of its first full-year profit of 8 cents per share.

Cipher Data Products Inc. was down one-quarter to 10 3/8 as it announced that fourth-quarter results would be below third-quarter earnings of 9 cents per share. Optimum losses continue to hurt Cipher Data, Katz said.

Gascard Inc. was down one-half to 4 3/4. It will hold its first annual meeting at 9 a.m. Friday.

Xytronyx Inc. was down five-eighths to 11 5/8 despite the fact that it will be added to the Pacific Stock Exchange in early August, Katz said.

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