Bank technology stocks rose last week, keeping pace with the general market.
The Dow Jones industrial average rose 1.5%, to 8545.72, while Goldman, Sachs & Co.'s index of U.S.-traded technology companies, which lists many bank vendors, climbed 2.5%, to 167.24.
Hewlett-Packard Co.'s share price rose 2.8%, to $66.75. The company said Friday that it had won government approval to export strong data encryption for on-line business transactions. Merrill Lynch & Co. and Morgan Stanley, Dean Witter, Discover & Co. upgraded their HP ratings.
Fiserv Inc. of Brookfield, Wis., said its board adopted a shareholder rights plan, which could ward off hostile takeover approaches.
Fiserv spokesman Charles Doherty said no takeover attempt is in the works. He also said the plan is not a response to the current battle being waged between Computer Associates International Inc. and Computer Sciences Corp.
"It was in the works for a long time," Mr. Doherty said. "It would make it much more difficult for an unwanted suitor."
Fiserv has adopted several antitakeover measures in the past, including staggering the terms of its eight directors. Only two directors can be elected at a time. Fiserv's shares rose 2.8%, to $54.75.
Fiserv also announced a five-year outsourcing deal with $800 million- asset Premier Bancorp, Atlanta. Terms were not disclosed.
