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Summarized by Kent Larsen
Corvis, 1-800-Contacts Drive Mormon Stock Index Up 2%
NEW YORK, NEW YORK -- After a long downturn, the Mormon Stock Index
rose 2% last week, largely on the strength of LDS billionaire David
Huber's Corvis Corp., which rose $8.25 (14%) after posting its first
revenue. The index also benefited from strong performances by 1-800
Contacts and Myriad Genetics, overcoming a shocking 45% drop in the
stock price of video retailer Hollywood Entertainment.
The strength at Corvis came after it posted a loss of 7 cents per
share, 2 cents less than any lists had predicted. However, some
analysts pointed out that the Corvis' revenue came from Broadwing,
Inc., which owns a stake in Corvis and has benefited from the run-up
in its stock price since its July IPO.
Contact lens retailer 1-800-Contacts also performed strongly, jumping
15.75% after its earnings report showed stronger than expected
earnings. While sales increased more than 50 percent over the same
period last year, 1-800-Contacts' earnings jumped over 200 percent.
Myriad Genetics' performance was even stronger, jumping over 26% for
the week, on the heels of its announcement of a patent award for its
cancer proteins. The company also introduced a new service in Canada
and a new drug target identification and validation technology.
But those rosy performances were barely able to overcome the drop in
Hollywood Entertainment's stock. The drop was a reaction to the
company's announcement that it would report lower-than-expected
third-quarter earnings because sales growth in stores was only one
percent. Analysts had assumed that Hollywood had bottomed out last
May, when the company shuttered its Reel.com online video store (see
Mormon News' story, LDS Video
Magnate Concedes E-Commerce Battle ). Analysts had expected
earnings of 28 cents a share, and the company announced that it would
post earnings of 2 to 5 cents a share.
In spite of this bad news, however, the Mormon Stock Index still
outperformed the Dow Jones Industrials, New York Stock Exchange
composite and the S&P 500. However, it was far behind the NASDAQ
composite.
| Mormon Stock Index | | | 126.8655 | up 2.5281 |
| Company | Symbol | LDS Executive | Closing Price | Change |
| AES Corp. | AES | Roger W. Sant, Chairman | 57.4375 | down 1.3125 |
| Black &Decker | BDK | Nolan D. Archbald, CEO | 31.5625 | up 2.5625 |
| Caldera Systems | CALD | Ransom H. Love, CEO | 3.6250 | down 0.3125 |
| Corvis Corporation | CORV | David Huber, CEO | 67.1250 | up 8.2500 |
| 1-800-Contacts | CTAC | Jonathan C. Coon, President &CEO | 42.2500 | up 5.7500 |
| Dell Computer | DELL | Kevin B. Rollins, Vice Chairman | 28.4375 | up 1.1250 |
| EarthShell | ERTH | Simon K. Hodson, CEO | 0.9375 | down 0.1250 |
| Franklin Covey | FC | Stephen R. Covey, Chairman | 7.5000 | up 0.1250 |
| Fonix | FONX | Steve Studdert, Chairman | 0.7812 | up 0.0624 |
| First Security | FSCO | Spencer F. Eccles, Chairman &CEO | 14.9375 | down 0.5000 |
| Hollywood Entertainment | HLYW | Mark J. Wattles, CEO | 3.6250 | down 3.0000 |
| Host Marriott | HMT | Richard Marriott, Chairman | 10.4375 | down 0.0625 |
| I-Link | ILNK | John Edwards, Chairman & CEO | 2.5625 | down 0.1875 |
| Iomega | IOM | David J. Dunn, Chairman | 4.5200 | down 0.2200 |
| Marriott International | MAR | J.W. Marriott, Jr., Chairman | 34.8750 | down 2.6875 |
| Micrel Semiconductors | MCRL | Ray Zinn, Chairman and CEO | 53.1875 | down 1.0625 |
| Myriad Genetics | MYGN | Christopher L. Wight, VP, General Counsel | 116.1250 | up 24.1250 |
| Novell | NOVL | Stewart Nelson, COO | 8.2812 | down 0.0626 |
| NuSkin | NUS | Most of Management is LDS, including Chairman and CEO | 5.6875 | down 0.3125 |
| Oakley, Inc. | OO | Jim Jannard, Chairman &CEO | 118.7500 | up 1.0625 |
| Ryder Systems | R | Tony Burns, CEO | 16.5625 | down 0.8125 |
| Cornerstone REIT | TCR | Glade M. Knight, Chairman &CEO | 10.8125 | down 0.0625 |
| Ten Fold | TENF | Gary Kennedy, President and CEO | 4.0312 | down 0.4063 |
| Zions Bancorp | ZION | Harris Simmons, Chairman | 50.5625 | up 1.0000 |
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