Bank technology stocks lost ground for the week, mirroring the broader market's sluggishness.
The Dow Jones industrial average fell 336.56 points, to close at 7694.66. The index has lost more than 498 points in two weeks.
The Goldman, Sachs & Co. technology index, which includes many bank technology vendors, lost 5.82 points for the week and closed at 157.21.
In news affecting specific bank technology stocks, Checkfree Corp., Atlanta, posted a net loss of $5.9 million in its fiscal fourth quarter. The company's net loss per share of 7 cents was 2 cents better than consensus expectations published by First Call.
Checkfree's stock price dropped $1 for the week, to $19.
Checkfree expects to break even in the third quarter and turn a profit in the fourth.
The company also announced this week it has expanded its relationship with Automatic Data Processing Inc., the nation's largest payroll processor. The two companies have formed a joint venture, called ECPartners, to provide electronic banking and cash management software to nonbank corporations.
In other bank technology news, Equifax Inc. announced that Total System Services Co. has purchased Equifax's bankruptcy prediction software.
Equifax's stock lost 81.25 cents, closing at $29.5625 on Friday. Total System's stock remained unchanged at $23.375.
