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Technology Stocks : FDC : First Data Corp

FDC 31.69

0.0%

Aug 5 5:00 PM EST

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To: Dale Stempson who wrote (97)	9/25/1997 4:50:00 PM
From: Thomas C. White	of 323

Thanks. I was surprised that FDC did not bounce back today, although the market was down. For PTI to drag down FDC is "tail wagging the dog." Actually I have a large position also in National Data (NDC) which is second largest in this area behind FDC, they also got banged up (although more today than yesterday). But both NDC and FDC have used their technological knowhow and acquisitions to get out of the pure merchant processing business -- FDC is very strong in other areas such as financial transactions business, getting heavily into Internet commerce, while NDC is more than 50 percent concentrated in the medical/pharmaceutical transaction business, where they are virtually a monopoly.

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