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Investors bless Akamai’s acquisition as e-commerce stocks advance
The Internet Retailer Online Retail Index gained 1.70% last week.
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Topics: Akamai, American Greetings, Bluefly, Content delivery network, Cotendo, Dow Jones Industrial Average, e-commerce stocks, EGain, Internet Retailer Online Retail Index, Standard & Poor’s 500 Index, Vistaprint
Wall Street’s Santas bestowed bounteous gifts upon Akamai Technologies following its acquisition of a competitor, but had only lumps of coal for gift card maker and e-retailer American Greetings.
Akamai’s shares gained nearly 20% last week after it announced it would buy a competing content delivery network, Cotendo. But a quarterly report of lower online sales helped send shares of American Greetings plummeting like a skinny Saint Nick in a wide chimney.
Overall, the Internet Retailer Online Retail Index, which tracks the stocks of 25 online retailers and e-commerce technology and service providers, gained 1.70% last week. Other stock sectors made merrier, as the Dow Jones Industrial Average gained 3.60% and the Standard & Poor’s 500 Index advanced 3.74%.
Here are the best-performing stocks last week in the Online Retail Index and the percentage increase in stock price for each:
• Akamai, 19.8%
• eGain, 12.1%
• Bidz.com, 7.9%
• Digital River, 7.5%
• United Online, 6.4%
Here are the Online Retail Index stocks that performed least well last week and the percentage loss in stock price for the week:
•American Greetings, -21.1%
• Bluefly, -16.1%
• VistaPrint, -3.5%
• 1800Flowers.com, -3.5%
• Amazon, -2.2%
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., 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.