Ronald Boire, CEO of Sears Canada, will take the top post at the bookseller in September, and current CEO Michael Huseby will become executive ...
GSI’s shares rose more than 51% following news that it would be bought by eBay.
It’s often the case with a big deal: The buyer’s stock gets hit as investors worry it paid too much, while the seller’s share price soars to reflect the premium the buyer paid. So it was last week with GSI Commerce, whose shares jumped 51% in the wake of news that it would be bought by eBay. Shares in eBay dropped 1.1%.
Overall, it was a strong week for e-commerce stocks as the Internet Retailer Online Retail Index gained 2.72%. The index of the stocks of 25 online retailers and e-commerce technology providers outperformed the Dow Jones Industrial Average, which gained 1.28%, and the Standard & Poor’s 500 Index, which moved up by 1.42%.
For the year, the Online Retail Index is up 8.2%, while the Dow is ahead 6.9% and the S&P 500 up 6.0%.
Overall, 16 of the 25 stocks in the Online Retail Index advanced last week and nine declined. After GSI, the top gainers were live chat vendor LivePerson and e-retailers U.S. Auto Parts Network, Amazon and Netflix.
Here are the best-performing stocks last week in the Online Retail Index and the percentage gain in stock price for each:
• GSI, 51.4%
• LivePerson, 8.0%
• U.S. Auto Parts Network, 6.0%
• Amazon, 5.4%
• Netflix, 5.3%
Here are the Online Retail Index stocks that performed least well last week and the percentage drop in stock price for the week:
• DemandTec, -11.4%
• RealNetworks, -5.1%
• Bidz.com, -3.4%
• Blue Nile, -2.3%
• Akamai, -2.2%
The 25 companies in the Internet Retailer Online Retail Index are: 1-800-Flowers.com Inc., Akamai Technologies, Amazon.com Inc., American Greetings Corp., Bidz.com Inc., Blue Nile Inc., Bluefly 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), ValueClick Inc. and Vistaprint Ltd.