Bank technology stocks fell slightly last week, shedding some of their September advance.
The Dow Jones industrial average rose 4.91 points for the week to close at 7,922.18. Meanwhile Goldman, Sachs & Co.'s index of U.S.-traded technology companies, which features many bank vendors, gave up 1 point and closed at 162.38.
In news affecting bank technology stocks, Electronic Data Systems Corp. consummated its deal with Commonwealth Bank of Australia.
The 10-year contract, which officials said ranks among the largest bank outsourcing deals ever, is valued at $3.8 billion. EDS' stock was up $1.00 for the week and closed at $36.50 Friday.
Shares of Intuit Inc. rose $4.875 for the week to $31.625 on persistent rumors the company would be acquired by H&R Block Inc. Officials from both companies declined to comment.
Intuit is the leading supplier of personal financial management software. H&R Block, which is best known for its tax preparation services, has some previous experience in the financial software business; It owned Meca Software, but sold it to BankAmerica Corp. and NationsBank Corp. in 1995.
Market sources said Intuit acquisition rumors have surfaced on a regular basis over the last few years.