E-commerce leads stock market rebound
June 11, 2012 10:49 AM
Investors rekindled their love for e-commerce stocks last week. The Internet Retailer Online Retail gained 4.8% last week after a 3.3% decrease the week prior.
That performance bested the broader stock market, which also recovered from recent declines. Last week the Dow Jones Industrial Average improved 3.6% and the Standard & Poor’s 500 increased 3.7%.
Coastal Contacts Inc., No. 110 in the Internet Retailer Top 500 Guide, led the index with a 20.1% gain. Its stock closed at $3.05 Friday, up from $2.54 on June 1. Last week’s closing price is near the top of Coastal Contact’s 52-week range of $2.16 to $3.20.
The Online Retail Index tracks 25 publicly traded e-retailers and e-commerce technology providers. Only four of those 25 stocks declined last week.
Following are the best-performing stocks last week in the Online Retail Index and the percentage change in stock price for each:
• Coastal Contacts, 20.1%
• Blue Nile, 12.9%
• Groupon, 11.0%
• LivePerson, 9.8%
• U.S. Auto Parts Network, 9.5%
Following are the Online Retail Index stocks that performed least well last week and the percentage loss in stock price for the week:
• Bluefly, -14.1%
• Vitacost, -1.7%
• United Online, -0.8%
• Keynote Systems, -0.1%
• Shutterfly, 0.0%
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., Digital River Inc., eBay Inc., eGain Communications Corp., Groupon Inc., 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.