The two firms will become independent publicly traded companies in 2015. The move follows pressure from investor Carl Icahn to spin off the payments ...
The Internet Retailer Online Retail Index fell nearly 2.6% for the week.
Less-than-sparkling first quarter financial results took the luster off Bidz.com last week, and there were few other bright spots in the Internet Retailer Online Retail Index.
Investors shaved more than 15% off the share price of Bidz after the jewelry e-retailer reported an 11.7% decline in first quarter sales. But Bidz was not alone, as only six of the 25 e-commerce stocks tracked by the Online Retail Index gained last week.
Overall, the Online Retail Index fell 2.57% last week, putting it well behind the broader market, which also struggled. The Dow Jones Industrial Average finished the week down 0.66% and the Standard & Poor’s 500 Index lost 0.34% lower.
Here are the best-performing stocks last week in the Online Retail Index and the percentage gain in stock price for each:
• PetMed Express, 2.0%
• U.S. Auto Parts Network, 1.5%
• Shutterfly, 0.9%
• Akamai, 0.7%
Here are the Online Retail Index stocks that performed least well last week and the percentage drop in stock price for the week:
• Bidz.com, -15.2%
• 1800Flowers.com, -11.2%
• NutriSystem, -6.8%
• VistaPrint, -6.0%
•Blue Nile, -4.2%
The 25 companies in the Internet Retailer Online Retail Index are: 1-800-Flowers.com Inc., Akamai Technologies, Amazon.com Inc., American Greetings Corp., Bidz.com Inc., Blue Nile Inc., Bluefly Inc., DemandTec Inc., Digital River Inc., Drugstore.com Inc., eBay Inc., GSI Commerce Inc., Keynote Systems Inc., LivePerson Inc., Netflix Inc., NutriSystem Inc., Overstock.com Inc., PetMed Express Inc., RealNetworks Inc., Shutterfly Inc., Systemax Inc., U.S. Auto Parts Network, United Online Inc. (owner of FTD.com), ValueClick Inc. and Vistaprint Ltd.