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By Kent Larsen
Four MSI Stocks Off More than 25%
NEW YORK, NEW YORK -- Four stocks on the Mormon Stock Index dropped
more than 25% for the week, giving the index itself a drop of nearly
4%, while the broader national stock indexes stayed even. Corvis
Corp., Hollywood Entertainment, Myriad Genetics and Ten Fold Corp.
were all hit hard, but for a variety of reasons. In contrast, Dell
Computer and 1-800-Contacts were up strongly, buffering the overall
drop in the index.
Corvis, the brainchild of LDS billionaire David Huber, dropped
another $12 a share, firmly moving Huber below fellow billionaire Jon
Huntsman on the list of the richest Mormons. Corvis was struck by
worries about the broader market for its goods, and by a rumor that
his former company and current competitor, Ciena, will merge with the
dominant Internet router manufacturer, Cisco.
Meanwhile, Hollywood Entertainment also plunged following a
disappointing earnings report. The move cost Hollywood's CEO, LDS
Church member Mark Wattles, who was forced by the stock's price drop
to sell some of his shares to pay loans secured by the stock. Ten
Fold Corp. also fell further on disappointing earnings. The company
posted a loss for the current period after positive earnings for the
same period last year.
But the heaviest drop was more than 30% in biotech firm Myriad
Genetics. Myriad also reported a larger loss for the three month
period ended October 31st. Monday results for Myriad showed an
additional drop of 13%.
But Contact maker 1-800-Contacts released extremely positive results
for the past quarter, driving its stock price up 18.3%, and Dell
Computer rose 8.4%, giving strong support to the MSI as it struggled
through the week.
| Mormon Stock Index | | | 119.6851 | down 4.7708 |
| Company | Symbol | LDS Executive | Closing Price | Change |
| AES Corp. | AES | Roger W. Sant, Chairman | 59.0000 | down 2.6250 |
| Black &Decker | BDK | Nolan D. Archbald, CEO | 34.3750 | down 1.3750 |
| Caldera Systems | CALD | Ransom H. Love, CEO | 2.8750 | down 0.3438 |
| Corvis Corporation | CORV | David Huber, CEO | 33.33125 | down 12.0625 |
| 1-800-Contacts | CTAC | Jonathan C. Coon, President &CEO | 35.5625 | up 5.5000 |
| Dell Computer | DELL | Kevin B. Rollins, Vice Chairman | 24.9375 | up 1.9375 |
| EarthShell | ERTH | Simon K. Hodson, CEO | 3.2812 | down 0.0313 |
| Franklin Covey | FC | Stephen R. Covey, Chairman | 8.9375 | up 0.0625 |
| Fonix | FONX | Steve Studdert, Chairman | 0.5938 | down 0.0781 |
| Hollywood Entertainment | HLYW | Mark J. Wattles, CEO | 1.8125 | down 0.6406 |
| Host Marriott | HMT | Richard Marriott, Chairman | 11.0625 | up 0.6250 |
| I-Link | ILNK | John Edwards, Chairman & CEO | 2.4062 | up 0.1562 |
| Iomega | IOM | David J. Dunn, Chairman | 6.2000 | up 0.1900 |
| Marriott International | MAR | J.W. Marriott, Jr., Chairman | 41.9375 | up 3.0000 |
| Micrel Semiconductors | MCRL | Ray Zinn, Chairman and CEO | 37.3750 | up 2.3750 |
| Myriad Genetics | MYGN | Christopher L. Wight, VP, General Counsel | 85.3125 | down 37.8125 |
| Novell | NOVL | Stewart Nelson, COO | 7.7500 | down 0.4688 |
| NuSkin | NUS | Most of Management is LDS, including Chairman and CEO | 5.3125 | no change |
| Oakley, Inc. | OO | Jim Jannard, Chairman &CEO | 21.6875 | up 1.3125 |
| Ryder Systems | R | Tony Burns, Chairman | 17.6875 | down 0.5000 |
| Cornerstone REIT | TCR | Glade M. Knight, Chairman &CEO | 10.6875 | down 0.0625 |
| Ten Fold | TENF | Gary Kennedy, President and CEO | 2.0000 | down 0.8125 |
| Zions Bancorp | ZION | Harris Simmons, Chairman | 52.9375 | down 3.0625 |
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