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Papa John’s International Inc. said late Thursday its board approved a 14% hike in the company’s quarterly dividend. The new 20-cents-a-share dividend, up from 17.5 cents a share, will be paid Aug. 19 to shareholders of record as of Aug. 8. Papa John’s shares were unchanged at $73.65 after hours.
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Abbott Laboratories shares rose 1.8% Thursday after a regulatory filing Wednesday showed the company’s chief executive officer, Miles White, bought $45 million of shares. The S&P 500 was up just 0.2% Thursday .
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CBS Corp. B-class shares dropped more than 2% after the company reported better-than-expected earnings and revenue for the second quarter. Net income for the quarter hit $423 million, or 93 cents per share, compared with $332 million, or 67 cents during the same period a year ago. The FactSet consensus on EPS was 86 cents. Revenue for the quarter rose to $3.29 billion, compared with $3.22 billion in the year-earlier period and was above the $3.21 billion FactSet consensus. CBS said advertising revenue decreased slightly to $1.55 billion during the quarter, compared with $1.59 billion a year ago. CBS B-class shares are up more than 15% in the year to date, outperforming the S&P 500 Index , which is up more than 6%.
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Columbia Sportswear Co. shares fell in the extended session Thursday after the outdoor clothing maker’s revenue fell short of Wall Street estimates. Columbia Sportswear shares fell 4.2% to $57 after hours. The company reported a loss of 12 cents a share on revenue of $388.7 million. Analysts surveyed by FactSet had forecast a loss of 17 cents a share on revenue of $392.2 million. Columbia Sportswear held to its full-year earnings forecast of $2.60 to $2.70 a share, while analysts expect $2.69 a share.
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Expedia Inc. shares sank 6.1% in Thursday after-hours trading after the company reported a second-quarter revenue miss. The travel booking company had net income of $31.6 million, or 21 cents per share, down from $449.6 million, or $3.38 per share, for the same period last year. Adjusted earnings totaled 83 cents per share, beating the 77 cents per share FactSet estimate. Revenue for the quarter totaled $2.20 billion, up from $1.66 billion the same period last year, but below the $2.24 billion FactSet consensus. Expedia and the founders of Trivago, the hotel search site, are exploring the possibility of an initial public offering of Trivago shares. Expedia said Trivago had $201 million in revenue, up 41% year-over-year. Expedia shares are down more than 4% for the year so far while the S&P 500 Index is up 6.2% for the same period.
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Starbucks Corp. said Thursday it has appointed Leanne Fremar executive creative director, effective October. In this role, Fremar will lead all of the creative development for Starbucks’ global brand initiatves and marketing campaigns, including digital and packaging. Fremar was most recently the executive creative director for the women’s and concept divisions at Under Armour Inc. She has also worked in fashion, for brands like Polo Ralph Lauren . Starbucks shares are up 0.5% in Thursday trading, but down 3.1% for the year to date. The S&P 500 Index is up 6.3% for the year so far.
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Natural-gas futures jumped 8% Thursday, their largest one-day percentage gain of this year, after U.S. government data showed a smaller-than-expected weekly climb in inventories of the fuel. Oil futures, meanwhile, fell for a sixth session in a row on the back of growing U.S. crude supplies and a potential slowdown in oil demand. September natural gas rose 21.3 cents, or 8%, to settle at $2.873 per million British thermal units. September crude lost 78 cents, 1.9%, to settle at $41.14 a barrel.
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Gold futures settled higher Thursday to finish at a roughly two-week high, with prices getting a lift from the U.S. Federal Reserve’s reluctance to raise rates too quickly. Weakness in the dollar and declines among most major U.S. equities also drew investors to gold. December gold rose $6.70, or 0.5%, to settle at $1,341.20 an ounce. That was the highest settlement since July 13, based on the most-active contract, according to FactSet.
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BB&T Co.’s Capital Markets division said Thursday that, due its decision to exit the equity research business, the bank is ending coverage of all its covered companies. BB&T Capital Markets had more than 300 companies under coverage. “Our prior ratings and estimates should no longer be relied upon,” the bank said in a note. A company spokesperson was not immediately available for comment. BB&T shares are nearly flat in Thursday trading, and down 8.6% for the past year. The S&P 500 Index is up 3.3% for the last 12 months.
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Natural-gas futures gained more ground on Thursday after the U.S. Energy Information Administration reported that supplies of the commodity rose 17 billion cubic feet for the week ended July 22. That was below the average rise of 27 billion cubic feet expected by analysts polled by S&P Global Platts. Total stocks now stand at 3.294 trillion cubic feet, up 436 billion cubic feet from a year ago and 524 billion cubic feet above the five-year average, the government said. September natural gas rose 13.3 cents, or 5%, at $2.793 per million British thermal units from Wednesday’s settlement. It traded at $2.73 before the data.
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