The past week was not lacking in...

The past week was not lacking in news as many San Diego-based companies reported quarterly earnings, according to Irving Katz, director of research for Thomas Green/San Diego Securities.

Wavetek was down $1.125 to $5.75 as it announced a third-quarter loss of $7 million. The stock had not reacted to the July 8 change of presidents or the forecast that there would be an unspecified loss in the third quarter. But this past week’s reaction made up for that in spades, Katz said.

Cohu, which reported a good increase in earnings, to $.37 a share from $.23, was down $.375 to $10.875, the result of apparent profit-taking. That also might have been the case for Advanced Marketing Services, which reported earnings of $.11, against $.05 for its first quarter, and saw the stock drop $1 to $15.75.

The earnings decrease released this past week was not beneficial to Great American First Savings Bank, which fell $1.25 to $10.50. Great American’s holdings of Freddie Mac preferred stock, which the S&L; does not intend to sell, are worth about $4.50 a share.

Home Federal Savings & Loan announced that it had sold its 100,000 shares of Freddie Mac preferred and will take a $5.4-million gain on the sale.

Barron’s magazine mentioned three San Diego companies in its newly published list of companies selling below book value. The publicity resulted in new highs for Maxwell Laboratories and Mission West Properties, but, alas, did not help Beeba’s Creations, which is still selling near its year’s low.