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In Business This Week: CLOSING BELL
BANK HOLDUP ON ATMs
The wave of bank megamergers should be a boon for Diebold, a top maker of automated teller machines. In theory, banks that merge and close branches will order new ATMs. But on May 22, Diebold said second-quarter earnings would fall short of analysts' projections of 49 cents to 50 cents per share. By May 27, its stock was at 30 3/4, down 23%. Diebold says merging banks are adding ATMs slowly while they sort out their holdings. And they're spending tech dollars fixing Year 2000 glitches instead of on ATMs.EDITED BY KELLEY HOLLANDReturn to top
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