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Summarized by Kent Larsen
Mormon Stock Index off as Novell Announces Cuts
NEW YORK, NEW YORK -- Network software maker Novell, Inc. announced
on Tuesday that it will lay off 16% of its workforce, leading
investors to dump its stock, and helping to drop the Mormon Stock
Indexx 3.23% for the shortened week. Other high-tech stocks in the
index, including Caldera Systems, Corvis and Myriad Genetics were
also off more than 10% as the broader stock market took a downturn
and the high-tech-heavy Nasdaq dropped more than 6%.
While two-thirds of the stocks in the index were down, enhanced
voice/data service provider I-Link jumped more than 30% for the week
after it announced that Zurich-based IP firm Red Cube will purchase
more than 50% of the company. Red Cube, which specializes in
integrating next generation communication services, will purchase a
stake in I-Link owned by Winter Harbor, L.L.C., a subsidiary of First
Media Corp., an investment company controlled by LDS Church member
Richard Marriott and his family.
Also up somewhat during the week was Hollywood Entertainment, which
announced that its Hollywood Video stores expected a strong fall
season, based on the quality of the films being released on video
during the approaching quarter.
| Mormon Stock Index | | | 140.6325 | down 4.6949 |
| Company | Symbol | LDS Executive | Closing Price | Change |
| Black &Decker | BDK | Nolan D. Archbald, CEO | 37.8750 | down 1.5000 |
| Caldera Systems | CALD | Ransom H. Love, CEO | 7.3125 | down 1.1875 |
| Corvis Corporation | CORV | David Huber, CEO | 87.6250 | down 11.3750 |
| 1-800-Contacts | CTAC | Jonathan C. Coon, President &CEO | 44.0000 | up 0.0625 |
| Dell Computer | DELL | Kevin B. Rollins, Vice Chairman | 38.8750 | down 4.1875 |
| EarthShell | ERTH | Simon K. Hodson, CEO | 1.9375 | down 0.0625 |
| Franklin Covey | FC | Stephen R. Covey, Chairman | 6.8125 | up 0.2500 |
| Fonix | FONX | Steve Studdert, Chairman | 1.0156 | down 0.0469 |
| First Security | FSCO | Spencer F. Eccles, Chairman &CEO | 15.8750 | up 0.8125 |
| Hollywood Entertainment | HLYW | Mark J. Wattles, CEO | 7.1250 | up 0.5000 |
| Host Marriott | HMT | Richard Marriott, Chairman | 10.8750 | up 0.1250 |
| I-Link | ILNK | John Edwards, Chairman & CEO | 4.5000 | up 1.0625 |
| Iomega | IOM | David J. Dunn, Chairman | 4.3750 | down 0.2500 |
| Marriott International | MAR | J.W. Marriott, Jr., Chairman | 38.6250 | down 0.4375 |
| Micrel Semiconductors | MCRL | Ray Zinn, Chairman and CEO | 70.0000 | down 4.6406 |
| Myriad Genetics | MYGN | Christopher L. Wight, VP, General Counsel | 127.8750 | down 25.1250 |
| Nationwide Financial | NFS | Dimon McFerson, Chairman | 38.0000 | down 0.5625 |
| Novell | NOVL | Stewart Nelson, COO | 10.7500 | down 1.4375 |
| Netrix | NTRX | Lynn Chapman, President &CEO | 7.0000 | down 0.1250 |
| NuSkin | NUS | Most of Management is LDS, including Chairman and CEO | 6.3750 | down 0.5625 |
| Ryder Systems | R | Tony Burns, CEO | 19.8125 | up 0.5625 |
| Ten Fold | TENF | Gary Kennedy, President and CEO | 6.7500 | down 0.2500 |
| Zions Bancorp | ZION | Harris Simmons, Chairman | 45.7500 | up 2.0625 |
ing this list.
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