Bank technology stocks had mixed run last week, after a Labor Department report hinted at brewing inflation.
The Dow Jones industrial average rose 6.63 points for the week to close at 8,045.21. Meanwhile Goldman, Sachs & Co.'s index of U.S.-traded technology stocks, which lists many bank vendors, gained 1.5 points to close at 167.4.
Another bank technology company, Checkfree Corp., saw its stock price rise sharply on word of an electronic bill presentment contract with Chase Manhattan Corp, the nation's largest bank. (See page 26.)
The vendor's stock reached a 12-month high of $30 on Friday, up $9.4375 from the previous week's close.
Elsewhere, Fiserv Inc. expects today to announce a deal to buy Savoy Discount Brokerage, a Seattle-based broker-dealer. Savoy allows for Internet- and phone-based trading using Fiserv software.
Terms of the deal were not disclosed. The discount broker will be folded into another Fiserv unit, BHC Securities Inc.
Fiserv's stock closed at $47.25 Friday, down 50 cents for the week.
In other news, Nova Corp. said its Nova Information Systems unit has agreed to form a limited liability card processing company with Firstar Corp.
Nova's stock rose $1.5625 for the week to close at $29.