Diamonds and Dogs
Shaq turning around Papa Johns (PAPA). The pizza company is up 5% to a new 52-week high following earnings. Over the last several years, the company has been in a very public battle with their founder and largest shareholder, John Schnatter. The new CEO has made it a top priority to listen and learn and get back to what made the brand great, better ingredients, better pizza, need to share story in a differentiated way. The company has been using Shaq O'Neal in commercials who owns nine franchises. Papa Johns also added him to their board.
Match Group Inc (MTCH) not a match for Wall Street. The online dating website is down 5% to a six- month low on earnings. Earnings actually beat expectations as sales rose 22.0% to $541.5 million, but the company then lowered guidance for the fourth quarter. IAC/InterActive was also dragged lower as the company owns 80.8% of Match stock. However, the company is expected to distribute its stake in the company to IAC shareholders. Wall Street seems to be losing patience with the recent money losing IPOs.
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