The social network says acquiring Gnip will help companies better understand what consumers and other brands are saying across Twitter.
With Q1 profit in hand, Overstock’s stock price increases
The Online Retail Index also posts a gain for the week.
Investors reacted favorably to Overstock.com Inc.’s $2.7 million first quarter profit the company announced last week.
The mass merchandiser, No. 27 in the Internet Retailer Top 500 Guide, reversed a $444,000 loss from the first quarter of 2011, helping boost its stock value 14.8% last week over the prior week.
Online marketplace eBay Inc. also saw double-digit gains last week following the release of its first quarter earnings results, which included revenue increasing 28.6% to $3.28 billion from $2.55 billion a year ago, and net income increasing 19.7% to $570 million from $476 million a year ago.
EBay’s stock price closed at $40.29 last week, an 11.5% increase from the $36.12 closing the week prior. EBay’s stock traded as high as $41.84 last week, a peak not seen since 2007.
The Online Retail Index tracks 25 publicly traded e-retailers and e-commerce technology providers.
Overall, the Online Retail Index increased 1.39% last week, in line with the broader market. The Dow Jones Industrial Average increased 1.40% and the Standard & Poor’s 500 increased 0.60% last week.
Following are the best-performing stocks last week in the Online Retail Index and the percentage increase in stock price for each:
• Overstock, 14.8%
• eBay, 11.5%
• LivePerson, 6.4%
• U.S. Auto Parts Network, 5.9%
• Vitacost, 4.6%
Following are the Online Retail Index stocks that performed least well last week and the percentage loss in stock price for the week:
• Groupon, -15.2%
• Bluefly, -8.3%
• Coastal Contacts, -4.6%
• Blue Nile, -3.8%
• Keynote Systems, -2.9%
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.