The two firms will become independent publicly traded companies in 2015. The move follows pressure from investor Carl Icahn to spin off the payments ...
But the Online Retail Index as a whole fell last week.
Investors reacted favorably to online photo services e-retailer Shutterfly Inc.’s bid to buy Eastman Kodak Co.’s Kodak Gallery for $23.8 million. Shutterfly’s stock gained 20.2% in value last week over the prior week, making it the top perfromer in the Internet Retailer Online Retail Index.
Similar to Shutterfly’s services, Kodak Gallery enables consumers to share and store digital photos, order prints and other customized products. Shutterfly is No. 66 in the Internet Retailer Top 500 Guide. The price, agreed to by Eastman Kodak, is the first of what may be multiple bids for Kodak Gallery. Kodak filed for bankruptcy in January, and the U.S. Bankruptcy Court will supervise an auction process if other parties make offers. Kodak says it aims to complete the sale by this spring.
Overall, 17 of the 25 e-commerce stocks tracked in the Online Retail Index decreased in value last week compared with the previous week. The broader market also registered mixed results for the week. The Dow Jones Industrial Average decreased 0.04% and the Standard & Poor’s 500 Index increased 0.28%.
The Online Retail Index tracks 25 publicly traded e-retailers and e-commerce technology providers.
Here are the best-performing stocks last week in the Online Retail Index and the percentage increase in stock price for each:
• Shutterfly, 20.2%
• Coastal Contacts, 17.4%
• Vitacost, 10.8%
• Netflix, 3.1%
• Bidz.com, 1.6%
Here are the Online Retail Index stocks that performed least well last week and the percentage loss in stock price for the week:
• U.S. Auto Parts Network, -18.7%
• Bluefly, -13.5%
• Systemax, -13.3%
• Overstock, -8.5%
• PetMed Express, -6.3%
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., Digital River Inc., eBay Inc., eGain Communications Corp., Groupon Inc., 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.