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Posted 24 Feb 2001   For week ended August 06, 2000
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Sent on Mormon-News: 31Jul00

Summarized by Kent Larsen

Corvis IPO Pushes Mormon Stock Index Up in Down Market

NEW YORK, NEW YORK -- The phenomenal IPO of Fiber-Optic networking firm Corvis pushed the Mormon Stock Index up nearly 1% last week while other market indicators fell, reacting to fears that the Federal Reserve will raise interest rates. Corvis, which traded for the first time on Friday, rose 135% from its offering price of $36 a share. The IPO and Friday's run-up also pushed the company's market valuation to a stratospheric $27 billion, the second largest in the Mormon Stock Index behind Dell Computer.

Because Corvis' run-up Friday was so large, the Mormon Stock Index rose for the week. Without Corvis' performance, the index would have fallen nearly 6.5%, reflecting the high-tech nature of half the companies on the Mormon Stock Index. The tech-heavy NASDAQ was off 10.45% last week, while the Dow Jones Industrials and New York Stock Exchange composite were off 2% and nearly 2.5% respectively.

Pushing the index down were some of its smaller high-tech companies. Fonix, I-Link and Netrix all fell by more than 20% in the general high-tech sell-off last week, with Netrix aided by a downgrade by some analysts from "buy" to "accumulate." The Mormon Stock Index also added a new listing, high-tech materials firm EarthShell, which also fell for the week by nearly 10%.

Just seven of the 24 stocks in the Index were up for the week, lead by Host Marriott and Micrel Semiconductor, both up more than 10% following analyst upgrades.

CompanySymbolLDS ExecutiveClosing PriceChange
AlbertsonsABSRichard L. King, President &COO31.0625down 0.2500
Black &DeckerBDKNolan D. Archbald, CEO37.3125down 1.5625
Caldera SystemsCALDRansom H. Love, CEO7.1250down 1.2500
Corvis CorporationCORVDavid Huber, CEO84.7188up 48.7188
1-800-ContactsCTACJonathan C. Coon, President &CEO59.0000up 1.2500
Dell ComputerDELLKevin B. Rollins, Vice Chairman43.6875down 8.6875
EarthShellERTHSimon K. Hodson, CEO2.6875down 0.2813
Franklin CoveyFCStephen R. Covey, Chairman8.0000up 0.1250
FonixFONXSteve Studdert, Chairman0.7656down 0.2344
First SecurityFSCOSpencer F. Eccles, Chairman &CEO14.6250down 0.1250
Hollywood EntertainmentHLYWMark J. Wattles, CEO7.9375down 1.0000
Host MarriottHMTRichard Marriott, Chairman11.3750up 1.0625
I-LinkILNKJohn Edwards, Chairman & CEO3.5625down 0.9687
IomegaIOMDavid J. Dunn, Chairman3.6250down 0.2500
Marriott InternationalMARJ.W. Marriott, Jr., Chairman38.7500down 2.6250
Micrel SemiconductorsMCRLRay Zinn, Chairman and CEO48.8594up 4.9219
Myriad GeneticsMYGNChristopher L. Wight, VP, General Counsel137.3750down 14.5000
Nationwide FinancialNFSDimon McFerson, Chairman36.7500up 1.6250
NovellNOVLStewart Nelson, COO9.0312down 1.2813
NetrixNTRXLynn Chapman, President &CEO7.6250down 2.1250
NuSkinNUSMost of Management is LDS, including Chairman and CEO5.5625down 0.1250
Ryder SystemsRTony Burns, CEO21.2500up 1.5625
Ten FoldTENFGary Kennedy, President and CEO8.8750down 0.6875
Zions BancorpZIONHarris Simmons, Chairman43.8750down 2.3125


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