Bank technology stocks were mixed in very slow trading on Wall Street last week.
The overall market stayed mostly in the doldrums because of an anticipated move by the Federal Reserve to tighten monetary policy an announcement expected on Tuesday.
Stock analysts expect the slowdown in the markets to be short term, since consumers recently have been more willing to spend.
"People are ready to make investments, but they are waiting for the next Fed meeting to take place before they step up to the plate to make the move," said Katrina Blecher, vice president of research for Gruntal & Co., New York.
"Peckpie expect the Fed raise to be 50 basis points, and if it is less than that, that will be a real positive result and the market will be very strong," she added.
The financial technology sector matched Wall Street's overall mood, with most posting very small gains or losses.
Early last week. Equifax announced that it had acquired, through its South American subsidiary, a 25% interest in Dicom SA, the leading provider of information services in Chile. Equifax also has an option to acquire additional equity interest in the future.
Terms of the transaction were not disclosed.
This is the second Equifax venture in South America this year. On May 16, the company announced a joint venture in Argentina.
"This joint venture with Dicom SA further enhances Equifax's international expansion in Latin America," said C.B. Rogers Jr., chairman and chief executive officer of Equifax. "Dicom has a proven track record in the information services business, an established customer base, sophisticated technology, and a professional management team."
Equifax closed the week at $28.875, down 12.5 cents. In related news, Total Systems Services Inc., announced a strategic business alliance designed to bring one-step debit and credit processing services to merchant bank card financial institutions.
The joint venture, with Deluxe Data Corp., allows both companies to offer a wide array of metchant payment services. including authorization, capture, and settlement of debit card transactions from more than 20 regional debit networks.
"Deluxe Data has grown to be an acknowledged leader in electronic funds transfer processing and software," said Philip W. Tomlinson, president of Total Systems. "We are pleased to have the opportunity, through this alliance. to offer merchant clients a combined force that will most assuredly meet and exceed their payment processing needs."
Total Systems's stock closed at $26.75, up $4.125 for the week.
Another outsourcing firm, Fiserv Inc., announced a multimillion-dollar contract with BankAmerica Corp. This deal is the latest of a number of big contracts signed by the outsourcing firm.
Fiserv closed Friday at $20.75, down 75 cents.
One exception to the slow week was Diebold Inc., which hit a 52-week high of $46.75, before closing the week at $46.125.
The company announced plans to add 52,000 square feet of space to their main building. Most of the space will be dedicated to research and development.
Daniel Strachman contributed to this story.