18 July 2018
Register today

Finextra50 down a further 4.26% led by Fair Isaac

21 January 2008  |  2611 views  |  0 graph 2

The Finextra50 Financial Technology Index closed down last week to 82. Misys, Fidelity NIS and Chordiant Software were the only three index companies to rise as more bank losses and poor retail results hit major markets worldwide. Fair Isaac led the fallers, slipping 20% after cutting its profit forecast for the year due to fall-out from the US mortgage crisis.

Major gainers
Misys was the index's biggest gainer, ending Friday up 7.24% on the previous week to close at 181.50p after announcing on Thursday that it has signed a strategic cooperation agreement with Digital China Financial Software to deliver application service provider (ASP) banking software targeted at about 30,000 small and medium-sized banks in China.

Fidelity National Information Services rose 3.33% last week to close Friday at $38.45. On Monday the payment processing technology company backed its previous target for profit in 2007 after its stock hit its cheapest price in more than a year.

After reviewing its results for the final three months of 2007, it confirmed its October forecast for net income of $1.90 per share and profit excluding certain extraordinary charges of $2.44 per share for the year was still valid.

Chordiant Software also rose last week, finishing up 2.32% to $8.39.

Major losers
Fair Isaac shares lost 20.67% of their value last week as the credit scoring software developer warned revenue and earnings for its first quarter ended in December would fall short of guidance. Its shares ended Friday at $22.60.

The company said revenue for the quarter would range between $198 million and $200 million, vs. $208.2 million a year ago. Analysts polled by Thomson Financial expected $205.3 million, in line with the company's previous guidance.

Among the reasons for the shortfall is market demand for its credit scores, which are expected to shrink as US lenders tighten their wallets in response to the sub-prime mortgage fall-out.

Other companies to fall more than 10% last week were:

  • Vasco Data Security down 15.82% to $17.51
  • GL Trade down 14.01% to EUR24.25
  • ORC Software down 12.74% to Skr137.00
  • ACI Worldwide down 12.29% to $12.56
  • Polaris down 11.77% to Rs107.20
  • Total System Services down 10.40% to $20.23

Index comparison



Methodology
More information on the Finextra50 Financial Technology Index methodology and constituent stocks can be found here.


Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related blogs

Create a blog about this story (membership required)
Visit info.nice.comVisit https://secure.vasco.comVisit http://go.jumio.com/finextraAd

Top topics

Most viewed Most shared
Metro Bank opens developer portalMetro Bank opens developer portal
9513 views comments | 5 tweets | 14 linkedin
Anything Visa can do...Mastercard takes time outAnything Visa can do...Mastercard takes ti...
8905 views comments | 6 tweets | 14 linkedin
Citi to streamline corporate receivables with HighRadiusCiti to streamline corporate receivables w...
7845 views comments | 1 tweets | 5 linkedin
Mastercard enlists Worldpay to push Vocalink's Pay by Bank appMastercard enlists Worldpay to push Vocali...
7784 views 19 comments | 14 tweets | 29 linkedin
Banks stand to reap $512 billion revenue boost from 'intelligent automation'Banks stand to reap $512 billion revenue b...
7659 views comments | 21 tweets | 30 linkedin

Featured job

to GBP £90K base, double OTE (estimate)
London, UK or Europe

Find your next job