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By Kent Larsen
MSI: Corvis Up While Market Falls
NEW YORK, NEW YORK -- Corvis Corp., the high-flying fiber optic equipment
manufacturer run by LDS Church member David Huber, actually rose last week
in the middle of a market downturn that shed nearly 8% from both the NASDAQ
and Dow and more than 6.5% off the Mormon Stock Index. Corvis rose nearly
16% as news arrived that a new director had purchased 150,000 shares,
demonstrating faith in the company.
A large part of Corvis' recent decline comes from sales by pre-IPO holders
who were only able to sell their stock in February, more than six months
after the company's IPO. Those sales pushed the company's stock down to less
than $7 a share.
Meanwhile, most other companies on the Mormon Stock Index fell along with
the broader market. Most significant were a nearly 15% drop at AES Corp. and
a nearly 21% drop at semiconductor design firm Cadence Design.
| Mormon Stock Index | | | 107.3552 | down 7.6402 |
| Company | Symbol | LDS Executive | Closing Price | Change |
| AES Corp. | AES | Roger W. Sant, Chairman | 47.51 | down 8.34 |
| Black &Decker | BDK | Nolan D. Archbald, CEO | 40.29 | down 4.21 |
| Bay View Capital Corp | BVC | Matt Carpenter, COO | 5.76 | down 0.51 |
| Cadence Design | CDN | Raymond Bingham, President &CEO | 19.00 | down 5.00 |
| Computerized Thermal Imaging | CIO | David A. Packer, President and COO | 2.30 | down 0.45 |
| Corvis Corporation | CORV | David Huber, CEO | 8.4062 | up 1.1562 |
| 1-800-Contacts | CTAC | Jonathan C. Coon, President &CEO | 22.0000 | up 0.3750 |
| Dell Computer | DELL | Kevin B. Rollins, Vice Chairman | 23.6875 | up 0.3125 |
| EarthShell | ERTH | Simon K. Hodson, CEO | 1.4375 | down 0.0937 |
| Franklin Covey | FC | Stephen R. Covey, Chairman | 8.30 | down 0.30 |
| Fonix | FONX | Steve Studdert, Chairman | 0.4375 | down 0.0781 |
| Hillenbrand Industries | HB | Frederick Rockwood, President &CEO | 47.32 | down 2.53 |
| Hollywood Entertainment | HLYW | Mark J. Wattles, CEO | 2.1875 | up 0.2187 |
| Host Marriott | HMT | Richard Marriott, Chairman | 11.93 | down 0.42 |
| Iomega | IOM | David J. Dunn, Chairman | 3.53 | down 0.42 |
| JP Realty | JPR | Several members of management team | 18.66 | down 0.32 |
| Knight Transportation | KNGT | Keith, Gary and Kevin Knight | 19.1250 | down 4.1875 |
| Marriott International | MAR | J.W. Marriott, Jr., Chairman | 40.98 | down 0.08 |
| Micrel Semiconductors | MCRL | Ray Zinn, Chairman and CEO | 27.1875 | down 1.4375 |
| Myriad Genetics | MYGN | Christopher L. Wight, VP, General Counsel | 35.7500 | down 9.8281 |
| Novell | NOVL | Stewart Nelson, COO | 5.0625 | down 1.0000 |
| NuSkin | NUS | Most of Management is LDS, including Chairman and CEO | 8.70 | up 0.70 |
| Oakley, Inc. | OO | Jim Jannard, Chairman &CEO | 15.66 | down 1.55 |
| Ryder Systems | R | Tony Burns, Chairman | 19.92 | down 2.07 |
| Cornerstone REIT | TCR | Glade M. Knight, Chairman &CEO | 10.50 | down 0.50 |
| Zions Bancorp | ZION | Harris Simmons, Chairman | 51.4375 | down 3.9375 |
Please Help Us Confirm Other Mormon Companies:
Mormon News' research confirms that there are probably other
companies with Mormon management that we currently don't know about.
Our research uncovered several Utah companies which may have Mormon
executives, but which we were unable to confirm as of yet. If you
have any confirming information about the following companies, please
let me know:
- FX Energy
- Gertner Communications
- Headwaters, Inc.
- Nature's Sunshine
- NPS Pharmaceuticals
- Questar
- SkyWest, Inc.
- Sonic Innovations
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