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By Kent Larsen
Subscriber Adds Cadence Design to Mormon Stock Index
NEW YORK, NEW YORK -- Mormon News subscriber Ethel Greenburg says that Raymond Bingham, President and
CEO of Cadence Design is an LDS Church member, leading Mormon News to
add his company to the Mormon Stock Index. But in spite of the
addition, the index fell 2.4%, mainly because of the continuing drop
of fiber optic equipment manufacturer Corvis. The drop in Corvis and
a few other firms outweighed the more modest increases in two-thirds
of the stocks on the index.
Corvis, which launched an IPO last July, has fallen to a new low of
$9.28 per share, a 27% drop for the week. The stock is now selling at
a level lower than the company initially predicted in its IPO
proposal over a year ago. When the stock went public in July, the
stock price rose substantially, to more than $90 a share, as
investors scrambled for the relatively few shares available. Recent
drops in the stocks price are probably due to the sale of shares by
pre-IPO holders who have been prevented by securities laws from
selling until recently.
The eight down stocks were all down substantially more than the up
stocks. In addition to Corvis, 1-800 Contacts fell by nearly 18%,
Micrel Semiconductor fell 12% and Fonix fell 10%. On the upside, only
NuSkin rose more than 10% for the week.
| Mormon Stock Index | | | 113.7239 | down 2.7451 |
| Company | Symbol | LDS Executive | Closing Price | Change |
| AES Corp. | AES | Roger W. Sant, Chairman | 55.84 | up 2.24 |
| Black &Decker | BDK | Nolan D. Archbald, CEO | 41.00 | down 1.51 |
| Cadence Design | CDN | Raymond Bingham, President &CEO | 24.85 | down 2.49 |
| Computerized Thermal Imaging | CIO | David A. Packer, President and COO | 2.11 | up 0.05 |
| Corvis Corporation | CORV | David Huber, CEO | 9.2812 | down 3.4688 |
| 1-800-Contacts | CTAC | Jonathan C. Coon, President &CEO | 19.9375 | down 4.3125 |
| Dell Computer | DELL | Kevin B. Rollins, Vice Chairman | 22.0625 | down 1.1875 |
| EarthShell | ERTH | Simon K. Hodson, CEO | 1.3125 | up 0.0313 |
| Franklin Covey | FC | Stephen R. Covey, Chairman | 8.50 | up 0.05 |
| Fonix | FONX | Steve Studdert, Chairman | 0.5469 | down 0.0625 |
| Host Marriott | HMT | Richard Marriott, Chairman | 12.93 | up 0.10 |
| Iomega | IOM | David J. Dunn, Chairman | 3.76 | up 0.01 |
| JP Realty | JPR | Several members of management team | 18.97 | up 0.02 |
| Knight Transportation | KNGT | Keith, Gary and Kevin Knight | 22.2500 | up 0.7500 |
| Marriott International | MAR | J.W. Marriott, Jr., Chairman | 41.03 | up 0.71 |
| Micrel Semiconductors | MCRL | Ray Zinn, Chairman and CEO | 30.6875 | down 4.1875 |
| Myriad Genetics | MYGN | Christopher L. Wight, VP, General Counsel | 56.8125 | up 2.0625 |
| Novell | NOVL | Stewart Nelson, COO | 5.8438 | down 0.4687 |
| NuSkin | NUS | Most of Management is LDS, including Chairman and CEO | 8.10 | up 0.85 |
| Oakley, Inc. | OO | Jim Jannard, Chairman &CEO | 17.30 | up 0.99 |
| Ryder Systems | R | Tony Burns, Chairman | 20.68 | up 0.89 |
| Cornerstone REIT | TCR | Glade M. Knight, Chairman &CEO | 11.14 | up 0.24 |
| Zions Bancorp | ZION | Harris Simmons, Chairman | 58.5000 | up 3.3750 |
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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