Papa John‘s stock spikes after report of talks with bankers

Shares of Papa John‘s International Inc. spiked 5.1% in midday trade Friday, after Reuters reported that the pizza chain had hired advisers to help assess its options. The stock was down about 0.2% just before the Reuters report. Earlier, the company had hired advisers as it mandated diversity training for its employees, in an effort to stem the public-relations backlash from comments made by . The Reuters report, which cited people described as familiar with the matter, said Bank of America Corp. and Lazard Ltd. were in the early stages of working with the company to find ways to help stabilize the business, but there were still no discussions about exploring strategic alternatives or a sale process. The company did not immediately respond to a MarketWatch request for comment. The stock has tumbled 42% over the past 12 months, while the S&P 500 has gained 18%.

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