Wall Street’s bulls took a breather last week, and e-commerce stocks would have joined the downward trend as well but for the lift provided by leading online retailer Amazon.com Inc.
One day after reporting 28% sales growth in the third quarter, Amazon’s shares hit a record high Friday, helping the Internet Retailer Online Retail Index advance 0.7% for the week. Without Amazon, the Online Retail Index would have been down 0.2%, in line with the .24% decline in the Dow Jones Industrial Average and slightly better than the .74% drop for the week in the Standard & Poor’s 500 Index.
Among major e-commerce companies that reported earnings last week, Netflix gained 12.0% for the week and Drugstore.com 7.4%, but eBay lost 3.8%, CyberSource dropped 11.3% and PetMed Express lost 17.9%. Overall, 15 of the companies in the Online Retail Index advanced last week, and 10 declined.
Here are the best-performing stocks last week in the Online Retail Index and the percentage price increase for each:
- Amazon.com, 24.3%
- Netflix, 12.0%
- ATG, 7.5%
- Drugstore.com, 7.4%
- Blue Nile, 6.1%
Here are the Online Retail Index stocks that performed least well last week and the percentage decline in stock price for the week:
- PetMed Express, -17.9%
- CyberSource, -11.3%
- Shutterfly, -8.6%
- Keynote Systems, -5.6%
- Digital River, -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., Art Technology Group Inc., Bidz.com Inc., Blue Nile Inc., CyberSource Corp., DemandTec Inc., Digital River Inc., Drugstore.com Inc., eBay Inc., GSI Commerce Inc., Keynote Systems Inc., LivePerson Inc., Netflix Inc., NutriSystem Inc., Omniture Inc., Overstock.com Inc., PetMed Express Inc., RealNetworks Inc., Shutterfly Inc., Systemax Inc., United Online Inc. (owner of FTD.com) and VistaPrint Ltd.
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