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By Kent Larsen
MSI Resists Much of NASDAQ Fall
NEW YORK, NEW YORK -- With the broader NASDAQ index falling 9% for the week, the Mormon Stock Index managed to limit its own drop to
under 3%, thanks to a strong performance by Corvis and gains at
larger, NYSE stocks like Black & Decker, Host Marriott, Marriott
International, Ryder Systems and Zions Bancorp. For the year, the MSI
remains up nearly 10%, with many of its components retaining large
increases.
The index was pushed down by tech stocks, especially Dell, Caldera,
Iomega and Micrel Semiconductor. However, the drops in these stocks
seemed to be driven by the market's attitude toward tech stocks,
rather than the stocks themselves. Dell in particular has avoided
much of the recent bad news that has hit other PC manufacturers,
particularly Gateway, and is well positioned to maintain sales
despite weak demand. Iomega is seeing success from recent product
introductions and Micrel's price loss is similar to other
semiconductor manufacturers.
Also down this past week was Hollywood Entertainment, which still
hasn't managed to hit bottom. The company's stock lost another third
of its value, continuing the squeeze on CEO Mark Wattles. The stock's
price hit a new low of $0.625 a share last week, down from a high of
over $30 in January 1999 and $15 earlier this year.
The bright spots on the index were Corvis, which recovered more than
$5 a share, closing the week at $32.3125, and Earthshell, the
environmental packaging manufacturer, which rose nearly 20% to
2.8125. The company has been told by McDonalds that its new clamshell
will be rolled out to an additional 300 stores.
| Mormon Stock Index | | | 109.8134 | down 3.1712 |
| Company | Symbol | LDS Executive | Closing Price | Change |
| AES Corp. | AES | Roger W. Sant, Chairman | 51.6875 | down 4.1875 |
| Black &Decker | BDK | Nolan D. Archbald, CEO | 36.8125 | up 2.8750 |
| Caldera Systems | CALD | Ransom H. Love, CEO | 2.0000 | down 0.5000 |
| Corvis Corporation | CORV | David Huber, CEO | 32.3125 | up 5.3125 |
| 1-800-Contacts | CTAC | Jonathan C. Coon, President &CEO | 27.6250 | down 3.0625 |
| Dell Computer | DELL | Kevin B. Rollins, Vice Chairman | 18.4375 | down 5.9375 |
| EarthShell | ERTH | Simon K. Hodson, CEO | 2.8125 | up 0.4375 |
| Franklin Covey | FC | Stephen R. Covey, Chairman | 8.0625 | down 0.7500 |
| Fonix | FONX | Steve Studdert, Chairman | 0.4688 | down 0.1250 |
| Hollywood Entertainment | HLYW | Mark J. Wattles, CEO | 1.0000 | down 0.5000 |
| Host Marriott | HMT | Richard Marriott, Chairman | 11.5000 | down 0.5000 |
| I-Link | ILNK | John Edwards, Chairman & CEO | 1.7500 | down 0.2500 |
| Iomega | IOM | David J. Dunn, Chairman | 5.0000 | down 1.0300 |
| Marriott International | MAR | J.W. Marriott, Jr., Chairman | 41.8750 | up 1.1875 |
| Micrel Semiconductors | MCRL | Ray Zinn, Chairman and CEO | 31.1875 | down 6.6875 |
| Myriad Genetics | MYGN | Christopher L. Wight, VP, General Counsel | 80.0250 | up 6.5000 |
| Novell | NOVL | Stewart Nelson, COO | 5.6562 | down 0.5313 |
| NuSkin | NUS | Most of Management is LDS, including Chairman and CEO | 4.5000 | down 0.6250 |
| Oakley, Inc. | OO | Jim Jannard, Chairman &CEO | 18.9375 | no change |
| Ryder Systems | R | Tony Burns, Chairman | 18.9375 | up 1.9375 |
| Cornerstone REIT | TCR | Glade M. Knight, Chairman &CEO | 10.7500 | down 0.1250 |
| Ten Fold | TENF | Gary Kennedy, President and CEO | 1.3125 | down 0.6250 |
| Zions Bancorp | ZION | Harris Simmons, Chairman | 55.6250 | up 2.3750 |
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