With stability in the dollar appearing on the horizon and interest rates evidently ready to level off, interest-sensitive San Diego stocks joined in the stock market rally to a minor extent, according to Irving Katz, director of research for San Diego Securities.
San Diego Gas & Electric, which meets with a select group of financial analysts today in San Diego, was up five-eighths to 32 1/2, according to Katz.
The interest-sensitive savings and loans were up minor fractions. Home Federal Savings & Loan was up three-eighths to 31 7/8; Imperial Corp. was up one-quarter to 14 and Great American First Savings Bank was up one-quarter to 14.
At its current price, Great American is selling at four times analysts' estimated annual earnings of $3.75 to $4, and well below its book value, Katz said.
Among the institutional favorites, Price Co. was up 3 3/4 to 47 1/2 and WD-40 gained one-half to 34.
DH Technology was up three-quarters to 6 3/4 upon announcing receipt of an order from Bell & Howell for 10,000 print heads valued at $500,000.
Mycogen was up half a point to 9 3/4 after announcing the receipt of patents that will be used in its biopesticide products.
With no news forthcoming, other point-gainers included Cubic and Xytronyx.
On the downside, Henley Group was down one-half to 29 1/8 despite a favorble review in Business Week, Katz said.
Cousins Home Furnishings was down one-quarter to 2 5/8 after reporting a yearly loss of $8.7 million. The company reported a $10.5-million loss during the previous year, Katz said.
Foodmaker, parent of the Jack In The Box restaurant chain, was down 2 to 11 1/2 with no news announcements.