ALL the News about
Mormons, Mormonism
and the LDS Church
Mormon News: All the News about Mormons, Mormonism and the LDS Church
Posted 24 Feb 2001   For week ended November 17, 2000
Most Recent Week
Front Page
Local News
Arts & Entertainment
·New Products
·New Websites
·Mormon Stock Index
Letters to Editor
Continuing Coverage of:
Boston Temple
School Prayer
Julie on MTV
Robert Elmer Kleasen
About Mormon News
News by E-Mail
Weekly Summary
Submitting News
Submitting Press Releases
Volunteer Positions
Bad Link?

News about Mormons, Mormonism,
and the LDS Church
Sent on Mormon-News: 14Nov00

By Kent Larsen

MSI Gives Back Previous Week's Gains On Dell's Drop

NEW YORK, NEW YORK -- After a lower-than-expected earnings forecast from Dell Computer, tech stocks dropped sharply last week, leading the Mormon Stock Index to give back 11%, the same as its previous week increase. In all, four stocks in the index dropped more than 20% each: Dell Computer, Caldera Systems, Ten Fold and Corvis.

Dell's announcement that its earnings wouldn't grow as fast as it has in the past surprised analysts, and its stock dropped nearly 20% just on Friday, the day of its announcement, ending the week down nearly 30%. Dell's fall led investors to reevaluate other stocks, and tech stocks were nearly all down as a result.

Linux software maker Caldera Systems fell 27.5% for the week, as did other Linux software firms after competitor VA Linux announced that sales to software website customers were sharply lower. Tenfold was also caught in the downturn, falling 25% while fiber optic equipment manufacturer Corvis continued to drop from its unrealistic July IPO price. Its shares were down 20% to a near low of $45.375 a share.

The drop-off left the Mormon Stock Index with only four rising stocks for the week. Led by environmental food packaging manufacturer EarthShell, which rose 6% for the week. Investor interest in EarthShell continues after its successful deal with McDonalds. None of the other three rising stocks, AES Corp., Iomega or Cornerstone REIT, managed to gain much more than 1%.
Mormon Stock Index   124.4559down 11.1560
Company SymbolLDS Executive Closing Price Change
AES Corp. AES Roger W. Sant, Chairman61.6250 up 0.3750
Black &Decker BDK Nolan D. Archbald, CEO 35.7500 down 2.8125
Caldera Systems CALD Ransom H. Love, CEO 3.2188 down 1.2187
Corvis Corporation CORV David Huber, CEO 45.3750 down 11.3125
1-800-Contacts CTAC Jonathan C. Coon, President &CEO30.0625down 5.9375
Dell Computer DELL Kevin B. Rollins, Vice Chairman23.0000down 9.5625
EarthShell ERTH Simon K. Hodson, CEO 3.3125 up 0.1875
Franklin Covey FC Stephen R. Covey, Chairman8.8750 down 0.3750
Fonix FONX Steve Studdert, Chairman0.6719 down 0.0781
Hollywood Entertainment HLYW Mark J. Wattles, CEO 2.4531 down 0.4531
Host Marriott HMT Richard Marriott, Chairman10.4375 down 0.1875
I-Link ILNK John Edwards, Chairman & CEO2.2500no change
Iomega IOM David J. Dunn, Chairman6.0100 down 0.0300
Marriott International MAR J.W. Marriott, Jr., Chairman38.9375 down 0.7500
Micrel Semiconductors MCRL Ray Zinn, Chairman and CEO35.0000 down 7.1875
Myriad Genetics MYGN Christopher L. Wight, VP, General Counsel123.1250down 4.6250
Novell NOVL Stewart Nelson, COO 8.2188 down 0.6250
NuSkin NUS Most of Management is LDS, including Chairman and CEO5.3125down 0.1875
Oakley, Inc. OO Jim Jannard, Chairman &CEO20.3750 down 1.8125
Ryder Systems R Tony Burns, Chairman 18.1875 down 0.5625
Cornerstone REIT TCR Glade M. Knight, Chairman &CEO10.7500up 0.1250
Ten Fold TENF Gary Kennedy, President and CEO2.8125 down 0.9375
Zions Bancorp ZION Harris Simmons, Chairman56.0000 down 1.4375


[an error occurred while processing this directive]

Copyright 1998, 1999, 2000, 2001 Kent Larsen · Privacy Information