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E-commerce stocks advance for the week, though some earnings reports fall flat
The Internet Retailer Online Retail Index advanced 3.61% last week.
Editor in Chief
The stock market rebounded last week, and e-commerce stocks were right in the middle of the action.
The Internet Retailer Online Retail Index, which tracks the stocks of 25 online retailers and e-commerce technology providers, moved up 3.61% last week, right in line with the broader market. The Dow Jones Industrial Average advanced 3.58% and the Standard & Poor’s 500 Index moved up 3.78%.
Several e-commerce companies reported earnings last week, and they got mixed reviews on Wall Street. Among the reporting companies whose shares advanced were Akamai Technologies, whose content delivery network accelerates web sites, and online retailer 1800Flowers.com. E-retailers Shutterfly, Overstock and Amazon all moved lower after reporting quarterly results. Amazon lost 7.4% of its share value over profit worries, despite reporting a 44% increase in sales.
And Netflix absorbed another pummeling after disclosing that it had lost 800,000 U.S. subscribers last quarter following a botched effort to raise prices.
Here are the best-performing stocks last week in the Online Retail Index and the percentage gain in stock price for each:
• eGain, 27.1%
• Akamai, 18.6%
• VistaPrint, 17.2%
• DemandTec, 12.8%
Here are the Online Retail Index stocks that performed least well last week and the percentage loss in stock price for the week:
• Netflix, -28.1%
• Digital River, -14.8%
• Overstock, -12.0%
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., Coastal Contacts Inc., DemandTec Inc., Digital River Inc., eBay Inc., eGain Communications Corp., Keynote Systems Inc., LivePerson Inc., Netflix Inc., NutriSystem Inc., Overstock.com Inc., PetMed Express Inc., Shutterfly Inc., Systemax Inc., U.S. Auto Parts Network, United Online Inc. (owner of FTD.com), ValueClick Inc., Vistaprint Ltd and Vitacost.com Inc.