PayPal posts another quarter with double-digit revenue growth. PayPal may soon be a payment option for shoppers on Chinese international marketplace AliExpress.
The Internet Retailer Online Retail Index skyrockets more than 3.5% for the week.
In the spirit of the Fourth of July, e-commerce stocks shot up last week, continuing a strong run that began in mid-June.
Internet Retailer Online Retail Index lit up investors with a 3.56% gain during a week when the Dow Jones Industrial Average gained only 0.59% and the Standard & Poor’s 500 Index inched up by 0.31%.
Only five stocks lost ground in the Online Retail Index, which tracks the stocks of 25 online retailers and e-commerce technology and service providers.
The biggest gainers were Coastal Contacts, an e-retailer whose stock has been down in recent weeks and Netflix, which surged after announcing plans to expand its streaming video service internationally.
Online jewelry retailer Blue Nile also advanced a week after disclosing plans to expand its selection.
Among the few losers in the Online Retailer Index was greeting cards maker and retailer American Greetings, which reported a 10% drop in web sales for its most recent quarter.
Here are the best-performing stocks last week in the Online Retail Index and the percentage gain in stock price for each:
• Coastal Contacts, 19.3%
• Netflix, 10.1%
• Blue Nile, 9.7%
• 1800Flowers.com, 7.3%
• Shutterfly, 6.9%
Here are the Online Retail Index stocks that performed least well last week and the percentage drop in stock price for the week:
• American Greetings, -2.1%
• DemandTec, -1.8%
• eGain, -1.0%
• LivePerson, -0.3%
• Vistaprint, -0.3%
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., Coastal Contacts Inc., DemandTec Inc., Digital River Inc., eBay Inc., eGain Communications Corp., Keynote Systems Inc., LivePerson Inc., Netflix Inc., NutriSystem Inc., Overstock.com Inc., PetMed Express Inc., Shutterfly Inc., Systemax Inc., U.S. Auto Parts Network, United Online Inc. (owner of FTD.com), ValueClick Inc., Vistaprint Ltd and Vitacost.com Inc.