Pawan Verma joins Foot Locker as its new chief information officer.
The Internet Retailer Online Retail Index gained nearly 1% last week.
Black Friday capped a positive week for e-commerce stocks, and at least one analyst is sufficiently impressed by online holiday sales to date that he’s raising his estimates for three key e-commerce companies.
The Internet Retailer Online Retail Index of 25 publicly traded e-retailers and e-commerce technology providers gained 0.84% last week even as the broader market fell. By contrast, the Dow Jones Industrial Average lost 1.00% for the week, and the Standard & Poor’s 500 Index fell 0.86%.
With several sources reporting strong online sales this holiday weekend, stock analyst Colin Sebastian of Lazard Capital Markets today raised his estimates for three major e-retail companies: top e-retailer Amazon.com Inc., online marketplace eBay Inc. and Akamai Inc., whose content delivery network accelerates the performance of e-retail and other web sites.
“Early trends are looking positive for the holiday selling season,” Sebastian wrote in his report on eBay. “We believe e-commerce is tracking toward the higher end of our 10-15% forecast range for the season-to-date, driven in party by a promotional environment, but we believe also by the ongoing secular shift to e-commerce.”
Amazon, Akamai and eBay were all among the top six performers last week in the Online Retailer Index, but online entertainment provider Netflix led the way with a gain of 10.84%.
Here are the best-performing stocks last week in the Online Retail Index and the gain in stock price for each:
• Netflix, 10.8%
• GSI, 9.1%
• Amazon, 7.5%
• Akamai, 4.0%
• eBay, 2.8%
Here are the Online Retail Index stocks that performed least well last week and the percentage loss in stock price for the week:
• DemandTec, -5.9%
• 1800Flowers.com, -5.2%
• Vitacost, -4.4%
• Bidz, -4.0%
• United Online, -3.9%
The 25 companies in the Internet Retailer Online Retail Index are: 1-800-Flowers.com Inc., Akamai Technologies, Amazon.com Inc., American Greetings Corp., 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.