The Finextra50 Financial Technology Index held steady last week, dropping just .5% to 86.08. ACI Worldwide and Computershare led the fallers, while Firstsource and Gresham Computing led the gainers.
ACI Worldwide was the index's poorest performer last week, as it dropped 16.79% to $17.15 after announcing a major round of job cuts and consolidation of non-core products and facilities in an effort to save $30 million in costs over 2008 and 2009.
This initiative was announced as the company issued quarterly figures that saw it return to profit after posting a net loss in the same quarter last year. Net income for the quarter ending 30 June was $0.8 million, compared to net loss of $2.7 million during the same period last year. Revenue was $109.2 million, an increase of $11.1 million, or 11%, over the prior-year period revenue of $98.1 million.
Australia's Computershare lost 8.50% last week to close at AUD$8.83. Despite posting record earnings for the fifth year in a row, the global share registry operator narrowly missed analyst expectations for its year-end figures and conceded in its outlook that slowing corporate activity could rein in its growth.
Misys also fell last week, losing 5.86% to close Friday at 164.75p
Indian outsourcing firm Firstsource saw the index's biggest gain last week. It rose 20.58% to Rs41.6 by Friday after heavy trading volumes saw its share price spike on Monday, with a further rise on Wednesday when it announced a $30 million six-year deal with British Telecom Global Services to provide knowledge-based back-office services.
Gresham Computing rose 16.06% last week to 79.5p after newspaper The Daily Express reported rumours of a takeover bid.
Other firms to see significant rises include:
Online Resources, up 12.25% to $8.98
Fair Isaac, up 10.34% to $26.67
Polaris, up 10.18% to Rs 108.80
More information on the Finextra50 Financial Technology Index methodology and constituent stocks can be found here.