Stock Watch: PeopleSoft Benefits From Partnership Announcement

PeopleSoft, Inc. (Nasdaq: PSFT) increased 2 9/16 to 27 3/8 Thursday following the announcement of a partnership with Financial Technologies International.

Under the alliance, both companies will integrate their products to provide financial institutions with enterprise-wide software applications for managing securities.

"This partnership will empower the financial services industry with time-critical information for time-critical decisions," said Predrag Dizdarevic, president and CEO of Financial Technologies, a New York City-based firm that provides platforms for real-time business information.

Earlier this week, PeopleSoft announced that Credit Suisse First Boston became the first company to conduct business-to-business e-commerce transactions across multiple market sites using PeopleSoft's MarketPlace trading platform.

Headquartered in Pleasanton, California, PeopleSoft provides Web-based e-business applications for customer relationship management, supply chain management and enterprise management.