Why Papa John's Stock Is Trading Higher Today

Papa John's International Inc PZZA is trading higher Thursday in sympathy with Domino's Pizza Inc DPZ, which reported better-than-expected financial results. 

Domino's reported second-quarter earnings of $3.12 per share, which beat the estimate of $2.86 per share. The company reported quarterly revenue of $1.03 billion, which beat the estimate of $969.91 million. 

Papa John's operates and franchises pizza delivery and carryout restaurants globally. North American franchisees pay a 5% royalty on sales to the company.

Price Action: Papa John's is making a new 52-week high in trading today. 

At last check Thursday, the stock was up 6.46% at $188.87.