|
By Kent Larsen
Four MSI Stocks Off More than 25%
NEW YORK, NEW YORK -- The Mormon Stock Index dropped again this past
week, as the broader indices pushed the market down and major
components of the index struggled. In all, five Mormon stocks fell
more than 15%, led by environmental packager EarthShell, whose 3rd
quarter results failed to live up to expectations, driven by postive
news of the pending adoption of its clamshell by McDonalds.
While tiny EarthShell doesn't affect the MSI very much, heavyweights
Novell and Corvis do, and both stocks fell during the week. Novell
dropped to a new 52-week low after its earnings fell compared to last
year. While the earnings did meet expectations on Wall Street,
investors were still disappointed, and broker Goldman Sachs
downgraded the stock. Corvis, meanwhile fell further, reaching a new
low of $27 a share, mainly due to worries that its technology will
become obsolete quickly and broader worries about the optical
industry.
Also dropping during the week was troubled Hollywood Entertainment,
which can't seem to recover after it finally closed down its reel.com
project. The company's stock has now fallen so far that CEO Mark
Wattles, an LDS Church member, was forced to sell some of his shares
to make payments on a loan secured by the stock.
But the biggest factor leading to the drop in the MSI is the broader
market, led by the tech-heavy NASDAQ, which dropped more than 4% for
the week. All but four of the stocks that make up the MSI were down
for the week.
| Mormon Stock Index | | | 112.9847 | down 6.7005 |
| Company | Symbol | LDS Executive | Closing Price | Change |
| AES Corp. | AES | Roger W. Sant, Chairman | 55.8750 | down 3.1250 |
| Black &Decker | BDK | Nolan D. Archbald, CEO | 33.9375 | down 0.3475 |
| Caldera Systems | CALD | Ransom H. Love, CEO | 2.5000 | down 0.3750 |
| Corvis Corporation | CORV | David Huber, CEO | 27.0000 | down 6.3125 |
| 1-800-Contacts | CTAC | Jonathan C. Coon, President &CEO | 30.6875 | down 4.8750 |
| Dell Computer | DELL | Kevin B. Rollins, Vice Chairman | 24.3750 | down 0.5625 |
| EarthShell | ERTH | Simon K. Hodson, CEO | 2.3750 | down 0.9062 |
| Franklin Covey | FC | Stephen R. Covey, Chairman | 8.8125 | up 0.1250 |
| Fonix | FONX | Steve Studdert, Chairman | 0.5938 | no change |
| Hollywood Entertainment | HLYW | Mark J. Wattles, CEO | 1.5000 | down 0.3125 |
| Host Marriott | HMT | Richard Marriott, Chairman | 11.0000 | down 0.0625 |
| I-Link | ILNK | John Edwards, Chairman & CEO | 2.0000 | down 0.4062 |
| Iomega | IOM | David J. Dunn, Chairman | 6.0300 | down 0.1700 |
| Marriott International | MAR | J.W. Marriott, Jr., Chairman | 40.6875 | down 1.2500 |
| Micrel Semiconductors | MCRL | Ray Zinn, Chairman and CEO | 37.8750 | up 0.5000 |
| Myriad Genetics | MYGN | Christopher L. Wight, VP, General Counsel | 73.6250 | down 11.6875 |
| Novell | NOVL | Stewart Nelson, COO | 6.1875 | down 1.5625 |
| NuSkin | NUS | Most of Management is LDS, including Chairman and CEO | 5.1250 | down 0.1875 |
| Oakley, Inc. | OO | Jim Jannard, Chairman &CEO | 18.9375 | down 2.7500 |
| Ryder Systems | R | Tony Burns, Chairman | 17.0000 | down 0.6875 |
| Cornerstone REIT | TCR | Glade M. Knight, Chairman &CEO | 10.8750 | up 0.1875 |
| Ten Fold | TENF | Gary Kennedy, President and CEO | 1.9375 | down 0.0625 |
| Zions Bancorp | ZION | Harris Simmons, Chairman | 53.2500 | up 0.3125 |
|
