During the past two days, only five...
During the past two days, only five of the 64 stocks of San Diego-based firms moved more than $1, with the majority showing little or no change. The market is in a consolidation phase, said Irving Katz, director of research at Thomas Green/San Diego Securities.
Of the 1-point movers, four showed gains, including Mail Boxes Etc., which was up $1.25. Biomagnetic Technologies was up $1.125 and Molecular Biosystems and Xytronyx each gained $1.
Biomagnetic Technologies went public at $9 in August and fell to $7 but recovered Wednesday, despite announcing a $1.49-million loss on sales of $1.3 million. The company continues to spend heavily on product development.
Mail Boxes Etc., which has been recording new highs this summer, recently announced that it will franchise space in Staples, an East Coast office-supply chain. Synbiotics gained $.625 over the past week after reaching a new low of $3 on announcing that it had would introduce a a new vaccine against feline leukemia.
On the downside, Henley Group fell $1 and International Totalizator was down $.44 on profit taking. Earlier, the stock had surged after the company’s demonstration of its new ticket-dispensing terminal. Rohr Industries stock continued to react downward to the company’s poor fourth-quarter earnings, falling an additional $.625 since Monday.
Western Health Plans, now in receivership, is no longer listed on the American Stock Exchange. It last traded at $.125 a share.
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