By Kent Larsen
Mormon Stock Index Up on Surges by Corvis, Novell
NEW YORK, NEW YORK -- Sharp rises by both optical network equipment
manufacturer Corvis and network software firm Novell pushed the
Mormon Stock Index up 2.4%. Both Corvis and Novell jumped more than
40% for the week, while other stocks held steady, with as many stocks
rising (7) as falling.
Corvis was up after analysts gave the firm a buy rating, expecting
the stock price to rise to $30. However, a reporter for The
Street.com notes that 91% of Corvis' stock is still in private hands,
and the 'lockup' period, during which it can't be sold, will expire
soon. If the insiders that hold the stock sell when the 'lockup'
period expires, the stock price could drop significantly.
Novell's stock rose after it reported that it had won a software
piracy case against a man who sold unlicensed copies of Novell's
Netware program on Ebay. Novell was awarded $600,000 in the case,
which bolstered its anti-piracy efforts.
In addition to Corvis and Novell, sunglass manufacturer Oakley, Inc.
and semiconductor manufacturer Micrel Semiconductor were both up more
than 15%. On the down side, Iomega and Knight Transportation fell by
a little less than 10% each.
|Mormon Stock Index|| || ||112.7047||up 2.6200 |
|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 ||23.0000 ||up 7.5000 |
|1-800-Contacts ||CTAC ||Jonathan C. Coon, President &CEO||28.8750||no change |
|Dell Computer ||DELL ||Kevin B. Rollins, Vice Chairman||17.4375||no change |
|EarthShell ||ERTH ||Simon K. Hodson, CEO ||1.8125 ||no change |
|Franklin Covey ||FC ||Stephen R. Covey, Chairman||7.5000 ||no change |
|Fonix ||FONX ||Steve Studdert, Chairman||0.4531 ||down 0.0313 |
|Host Marriott ||HMT ||Richard Marriott, Chairman||13.0000 ||down 0.0625 |
|Iomega ||IOM ||David J. Dunn, Chairman||3.7000 ||down 0.3500 |
|Knight Transportation ||KNGT ||Keith, Gary and Kevin Knight||20.5625 ||down 2.2500 |
|Marriott International ||MAR ||J.W. Marriott, Jr., Chairman||44.5625 ||down 0.3125 |
|Micrel Semiconductors ||MCRL ||Ray Zinn, Chairman and CEO ||42.8750 ||up 4.1325 |
|Myriad Genetics ||MYGN ||Christopher L. Wight, VP, General Counsel||56.0000||down 3.0000|
|Novell ||NOVL ||Stewart Nelson, COO ||7.5625 ||up 2.2500 |
|NuSkin ||NUS ||Most of Management is LDS, including Chairman and CEO||6.1250||up 0.0625|
|Oakley, Inc. ||OO ||Jim Jannard, Chairman &CEO||18.2500 ||up 2.5000 |
|Ryder Systems ||R ||Tony Burns, Chairman ||18.1875 ||up 0.9375 |
|Cornerstone REIT ||TCR ||Glade M. Knight, Chairman &CEO||10.9375||up 0.1250 |
|Zions Bancorp ||ZION ||Harris Simmons, Chairman||58.6875 ||down 1.3125 |