While most stocks seem to be marking...
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While most stocks seem to be marking time, some San Diego stocks have made some good gains recently, including a few 1989 highs, said Irving Katz, director of research at Thomas Green/San Diego Securities.
Since Wells Fargo agreed to pay $31 a share for Torrey Pines Bank, a 2.4 times premium to book value, small bank stocks made significant gains. First National reached a new of high of $22, gaining $2.50 since the announcement on Monday. BSD Bancorp made a new high of $9.25, gaining $1.25.
Other new highs this week included Molecular Biosystems at $25.25 and Xytronyx at $7.25. Henley Group, which announced plans to separate itself into a real estate company and a new industrial company, gained $3.75 .
Synbiotics which sold $2 million worth of its stock to H&Q; Life Science Venture Partners, gained $1.25.
Maxwell Laboratories gained $1.25 after announcing earnings of $1.43 a share for the year ended July 31. Total backlog was up to $118 million from $47.3 million the year previous.
There was one new low for the week, Cipher Data Products at $6.50.
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