Updating STATE STREET CORP. and DIEBOLD INC.

Article Excerpt

STATE STREET CORP. $55 (www.statestreet.com) continues to see strong demand from pension plans and mutual funds for its accounting and securities-related services. On December 31, 2012, it had $24.4 trillion in assets under administration and custody, up 11.8% from $21.8 trillion a year earlier. The company’s fees vary with the value of the securities it administers, which is part of the reason why its earnings per share rose 5.9% in 2012, to $3.95 from $3.73. Ongoing savings from a restructuring plan, including job cuts, should improve its long-term profitability. Best Buy. DIEBOLD INC. $33 (www.diebold.com) has developed an automated teller machine that lets users withdraw cash using a mobile device instead of a bank card. This device also allows for cash transfers to other users. Demand for cardless ATMs could be huge, because they would let banks issue fewer cards. This system would also cut down on fraud, because it would automatically block transactions made with stolen phones. Buy. Buy…