In a week of mixed results in the general market, bank technology stocks finished mostly higher.
The Dow Jones industrial average fell more than 162 points, to close at 8,031.22. Meanwhile the Goldman Sachs technology index, which includes many bank technology providers, rose 1.2, to close at 163.03.
One major exception to the generally positive technology stock showings was Electronic Data Systems Corp., which reported lower than expected earnings for the second quarter.
EDS reported net income of $22.9 million, or 5 cents per share, compared to a loss of $326.5 million, or 65 cents per share, a year earlier.
Excluding charges of $265 million for a corporate restructuring, the Plano, Tex.-based company earned $192.4 million, or 39 cents per share, in the latest quarter. According to First Call, analysts had been expecting earnings per share of 45 cents.
EDS stock dropped $7.375 for the week, to close at $37.
In other news affecting bank technology companies, Bisys Group Inc. agreed to buy Charter Systems Inc. for $33.4 million of stock.
West Newton, Mass.-based Charter Systems provides network planning, design, and implementation services for companies deploying local and wide area networks. In its fiscal year ended June 30, Charter Systems had net revenues of $13 million.
Bisys Group's shares were up $2.75 for the week and closed at $34.50.