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By Kent Larsen
New Company Added, Four Dropped From Mormon Stock Index
NEW YORK, NEW YORK -- In the regular revision of the Mormon Stock
Index, four small Mormon firms were dropped because their market
capitalization fell below the required $100 million while one new
company was added. Caldera Systems, Hollywood Entertainment, I-Link
and Ten Fold all ended the fourth quarter with market capitalizations
well below $100 million. But the index did add one new company,
Knight Transportation, and managed to rise for the week, while the
broader indexes all fell.
High-tech firms Caldera Systems, I-Link and Ten Fold have dropped
steadily over the past few months, victims of the broader decline and
loss of faith in high-tech stocks that has dropped the NASDAQ by half
from its high. Hollywood Entertainment also suffers from a loss of
faith in the company after its long delay in dumping its money-losing
internet venture Reel.com.
Knight Transportation, on the other hand, is a 10-year-old
Phoenix-based trucking and logistics firm owned by former Utahns
Keith, Gary, Kevin and Randy Knight. They have set the corporate goal
of making the firm the most efficient in their industry. Adding
Knight Transportation to the MSI rounds the index out at 20 firms.
Meanwhile, 13 stocks on the index rose in its first week of the year,
including small stocks Earthshell, which rose 41% and Fonix, which
rose 55%. Unfortunately, two of the three stocks that dropped had
substantial falls. Myriad Genetics fell nearly 27% while fiber optics
manufacturer Corvis dropped nearly 35% to a new low of $15.50 a
share. That price is significant because it is in the range of the
offering price that the company originally proposed, before Wall
Street's hype pushed them to offer at $36 a share and before the
company thereafter reached a high of 114.75 in August.
Still, the increases at the many other stocks that rose pushed the
index up 2%, while the broader market indexes, including the NYSE
composite, the NASDAQ composite, the Dow Jones Industrials and the
S&P 500 all fell. Marriott Corp. was the biggest contributor to the
rise, increasing its stock price by nearly 15% for the week.
| Mormon Stock Index | | | 109.7047 | up 2.2022 |
| Company | Symbol | LDS Executive | Closing Price | Change |
| AES Corp. | AES | Roger W. Sant, Chairman | 52.6875 | no change |
| Black &Decker | BDK | Nolan D. Archbald, CEO | 37.4375 | no change |
| Corvis Corporation | CORV | David Huber, CEO | 15.5000 | down 8.3125 |
| 1-800-Contacts | CTAC | Jonathan C. Coon, President &CEO | 28.8750 | up 0.2500 |
| Dell Computer | DELL | Kevin B. Rollins, Vice Chairman | 17.4375 | no change |
| EarthShell | ERTH | Simon K. Hodson, CEO | 1.8125 | up 0.5313 |
| Franklin Covey | FC | Stephen R. Covey, Chairman | 7.5000 | no change |
| Fonix | FONX | Steve Studdert, Chairman | 0.4844 | up 0.1719 |
| Host Marriott | HMT | Richard Marriott, Chairman | 13.0625 | up 0.1250 |
| Iomega | IOM | David J. Dunn, Chairman | 4.0500 | up 0.7000 |
| Knight Transportation | KNGT | Keith, Gary and Kevin Knight | 22.8125 | up 3.5625 |
| Marriott International | MAR | J.W. Marriott, Jr., Chairman | 44.8750 | up 2.6250 |
| Micrel Semiconductors | MCRL | Ray Zinn, Chairman and CEO | 38.5625 | up 4.8750 |
| Myriad Genetics | MYGN | Christopher L. Wight, VP, General Counsel | 59.0000 | down 23.7500 |
| Novell | NOVL | Stewart Nelson, COO | 5.3125 | up 0.0937 |
| NuSkin | NUS | Most of Management is LDS, including Chairman and CEO | 6.0625 | up 0.7500 |
| Oakley, Inc. | OO | Jim Jannard, Chairman &CEO | 15.7500 | up 2.2500 |
| Ryder Systems | R | Tony Burns, Chairman | 17.2500 | up 0.6250 |
| Cornerstone REIT | TCR | Glade M. Knight, Chairman &CEO | 10.8125 | up 0.2500 |
| Zions Bancorp | ZION | Harris Simmons, Chairman | 60.0000 | down 2.4375 |
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