Generous donation: Stuart Ottinger, president of the Double R Restaurant Group, which owns and operates Another Broken Egg cafe, tells Daily Report his company will donate 100% of the revenue made by both Baton Rouge locations on July 25 to the families of the three officers slain in Sunday’s attack. Baton Rouge police officers Montrell Jackson and Matthew Gerald dined at the restaurant Sunday morning before they were killed. “We are extremely saddened for all of the families involved and will be donating 100% of sales from this day to help these families,” Ottinger writes in an email. Another Broken Egg joins more than three dozen restaurants that will be donating a portion of Monday’s proceeds to the slain officers.
Big loss: Halliburton reported a $3.2 billion loss in the second quarter today, largely because of a $3.5 billion breakup fee it paid rival and former acquisition target Baker Hughes. FuelFix.com reports Halliburton’s acquisition of Houston-based Baker Hughes fell apart in early May after the Justice Department intervened because of anticompetitiveness concerns. Halliburton says it cut about another 5,000 jobs globally during the second quarter, bringing the total workforce to just more than 50,000 people. Halliburton has eliminated more than 35,000 jobs in two years, roughly 40% of its total jobs during that timeframe. FuelFix.com has the full story.
Conclusion: Papa John’s International Inc. is poised to perform well as civil and political disruptions ahead of a contentious U.S. election prompt Americans to stay in rather than eat out, according to KeyBanc Analyst Chris O’Cull. Bloomberg reports the analyst upgraded the stock to “overweight” from “sector weight” and upped his price target to $80, which is the highest among analysts surveyed by Bloomberg. While Americans may be bitterly divided on partisan lines, O’Cull thinks inexpensive Italian fare is something that transcends political affiliations. The analyst writes that he makes the recommendation based on conversations with businesses and industry representatives who say the decline in casual dining could in part be due to the current political and social unrest. Bloomberg News has the full story.
