A news summary focused on 10 big employers; updated 5:16 p.m.
KINDRED said second-quarter results came in at the high end of Wall Street’s expectations. Revenues were $1.8 billion and earnings were 23 cents per share (press release). Yahoo Finance has the forecast. The report was issued after stock markets closed; in extended trading, Kindred’s shares were unchanged at $11.17. The Louisville-based hospital and nursing giant also declared a regular quarterly dividend of 12 cents a share (press release). Kindred employs 2,200 workers in Louisville and 102,000 nationwide. More about the company.
YUM‘s dominance of China’s fast-food market is starting to slip as consumers shift to healthier options and Chinese-style food chains, from huoguo (hot pot) to tangbao (steamed dumplings). That might explain some of the middling interest in Yum’s China Division spinoff. “There would definitely have been more buyer interest five years ago, but at that time they were doing so well that they couldn’t bear to sell,” said management professor Li Weihua of China University of Political Science and Law. “With the bloom off the rose, if they don’t sell now, it would be worth even less five years later” (Bloomberg).
PAPA JOHN’S has renewed its multiyear sponsorship contract with the NFL, a deal in place since 2010. As the official pizza sponsor of the league, the chain said today it will continue using NFL logos and trademarks in advertising and marketing campaigns across marquee league events, such as the Super Bowl, Pro Bowl and NFL Kickoff (press release).
In related news, Papa John’s won’t be replacing Peyton Manning in its TV commercials, even though the Denver Broncos quarterback has retired. “Peyton Manning is the Michael Jordan of football. Period. End of conversation,” CEO John Schnatter told Wall Street analysts during a teleconference yesterday on the chain’s better-than-forecast second-quarter financial results. He’ll play a different role, however, said COO Steve Ritchie. “I think you’ll see some very fun and interactive ways that the marketing team . . . has utilized Peyton in the spots” (Seeking Alpha). Here’s one with Manning, Schnatter and the Houston Texans’ J.J. Watt, and long-retired Hall of Famer Joe Montana.