Taking pan in the running of the bulls through Wall St. last week, bank technology stocks rose considerably, matching investors' growing confidence.

The rally for technology companies with significant business in financial services actually began two weeks ago, with the rest of the stock market jumping on the bandwagon last week.

The closely watched Dow Jones industrial average rose by more than 100 points for the week, capped by 50-point jump Friday.

Automated teller machine manufacturer Diebold Inc. announced Friday that Robert P. Barone had retired from his position as vice chairman of Diebold and resigned from the company's board of directors.

Diebold officials said Mr. Barone would continue to be available to the company in an advisory capacity through December 31, 1997.

Robert W. Mahoney, chairman, president and chief executive officer, said, "Bob Barone has been an important leader in the electronic funds-transfer industry, as well as in the company's participation in that industry. We are pleased that he will continue his association with our organization over the next several years."

Diebold's stock finished Friday at $45.375 per share, up 12.5 cents for the week.

Another electronic banking company, Concord EFS Inc., announced that its board of directors approved a three-for-two stock split.

The board voted to set the record date for the split on Sept. 6, 1994, with the additional shares to be distributed on Sept. 16, 1994.

Concord's common stock closed at $28.50 a share Friday, up $2.125 for the week.

Atlanta-based Equifax Inc. raised its bid to acquire UAPT-Infolink, a British credit bureau. Equifax officials said the raised bid was significantly higher that of rival Trans Union Corp., who is also seeking to acquire the company.

UAPT-Infolink has told its shareholders to accept Trans Union's lower bid, because they believe a merger with Equifax could be rejected by the United Kingdom's Monopolies and Mergers Commission.

Equifax officials countered by issuing a statement asserting that they believed the proposed deal would pass muster with regulators.

Equifax stock closed Friday at $28.75 a share Friday, unchanged for the week.

First Data Corp. announced last week that Bill Bak was named president of First Data InfoSource, a subsidiary that provides information-processing and related services to the transaction card and other businesses.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.