The city is broadening the reach of its 9% “amusement tax” to include streaming entertainment services like Netflix and Spotify.
A gain of nearly 1% for the Internet Retailer Online Retail Index last week put e-commerce stocks well behind the broader market, as the S&P 500 and Dow both moved ahead by more than 2%.
E-commerce stocks have run ahead of the broader market for most of 2009, but not last week.
The 25 e-commerce stocks tracked in the Internet Retailer Online Retail Index gained 0.96% last week, while the Standard & Poor’s 500 Average surged 2.33% and the Dow Jones Industrial Average 2.16%. For the year, the index of online retailers and e-commerce technology providers remains ahead of the broader market: The Online Retail Index is up nearly 57% since Jan. 1, while the S&P; is up nearly 12% and the Dow almost 7%.
For the week, 13 of the stocks in the Online Retail Index advanced, and 12 lost ground.
Here are the best-performing stocks last week in the Online Retail Index and the percentage price increase for each:
- Akamai, 18.4%
- Blue Nile, 7.8%
- ATG, 7.7%%
- Drugstore.com, 7.5%
- Systemax, 7.0%
Here are the Online Retail Index stocks that performed least well last week and the percentage decline in stock price for the week:
- United Online, -17.4%
- NutriSystem, -6.0%
- American Greetings, -5.5%
- DemandTec, -4.0%
- Keynote Systems, -2.6 %
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.