The city is broadening the reach of its 9% “amusement tax” to include streaming entertainment services like Netflix and Spotify.
The Internet Retailer Online Retail Index gained 3.46% last week, ahead of the broader market.
Santa came early for e-commerce stocks, delivering a just-what-I always-wanted gift: a 3.46% gain for the Internet Retailer Online Retail Index, which tracks 25 stocks of online retailers and e-commerce technology providers.
The e-commerce index easily outpaced the broader stock market, as the Dow Jones Industrial Average gained just 0.25% for the week, and the Standard & Poor’s 500 Index advanced 1.28%.
Leading the way among the e-commerce stocks was Keynote Systems, which monitors the performance of Internet and mobile sites. The company surpassed its top share price of the past year on Friday at $14.50, before falling back slightly to $14.47. Keynote shares gained nearly 15% last week. Only six of the 25 Online Retail Index stocks lost ground for the week.
Here are the best-performing stocks last week in the Online Retail Index and the percentage gain in stock price for each:
• Keynote Systems, 14.9%
• DemandTec, 12.4%
• 1800Flowers.com, 10.1%
• American Greetings, 8.2%
• NutriSystem, 8.1%
Here are the Online Retail Index stocks that performed least well last week and the percentage loss in stock price for the week:
• Vitacost, -4.7%
• Systemax, -0.3%
• GSI, -0.1%
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.