The policy lets overseas e-retailers sell into China without animal testing, but companies still need help entering the China market.
The Internet Retailer Online Retail Index lost 5.7% last week.
Wall Street did not much like what it heard from e-commerce companies last week, and punished their stocks accordingly.
The Internet Retailer Online Retail Index lost 5.7% last week, and the biggest losers were companies that reported quarterly results or provided guidance that fell below analysts’ expectations.
Six of the 25 companies tracked by the Online Retail Index lost 9% or more for the week, five of them after reporting earnings and the sixth, e-retailer Vitacost, after serving up disappointing guidance. Worst hit was online photo service retailer VistaPrint, which shed 34% of its share value after missing analysts’ estimates for its fiscal fourth quarter earnings, although its full-year sales were up 30%.
Twenty-one of the 25 stocks in the index lost ground during a week when the broader market was mixed. The Dow Jones Industrial Average gained 0.40% and the Standard & Poor’s 500 Index lost 0.10%.
Here are the best-performing stocks last week in the Online Retail Index and the change in stock price for each:
• Keyno te Systems, 3.7%
• U.S. Auto Parts Network, 3.1%
• 1800Flowers.com, 1.8%
• United Online, 0.3%
• American Greetings, -0.1%
Here are the Online Retail Index stocks that performed least well last week and the percentage loss in stock price for the week:
• VistaPrint, -34.2%
• Vitacost, -15.8%
• GSI, -15.0%
• Akamai, -14.9%
• NutriSystem, -14.1%
• ATG, -9.1%
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., DemandTec Inc., Digital River Inc., Drugstore.com Inc., eBay Inc., GSI Commerce Inc., Keynote Systems Inc., LivePerson Inc., Netflix Inc., NutriSystem Inc., Overstock.com Inc., PetMed Express Inc., RealNetworks Inc., Shutterfly Inc., Systemax Inc., U.S. Auto Parts Network, United Online Inc. (owner of FTD.com), Vitacost.com Inc. and VistaPrint Ltd.