Shares of Domino's (NYSE: DPZ), Wendy's (NASDAQ: WEN), and Papa John's International (NASDAQ: PZZA) are soaring 14%, 42%, and 40%, respectively, on Thursday afternoon. It's a relatively calmer day in the markets as some investors see a silver lining in some restaurant stocks.
One intriguing bit of news came from Domino's, which said its franchise-owned locations are planning to hire roughly 1,000 people across about 100 stores in Chicago; it has noticed an increase in delivery demand amid people staying home and dine-in restaurants temporarily closing their doors to consumers. The pizza juggernaut estimated it could have as many as 10,000 job openings as the coronavirus pandemic continues to threaten the restaurant industry.
Papa John's CEO Rob Lynch also said the company would be going on a hiring spree, as the pizza-delivery business is "uniquely set up to persevere during these challenging times." Lynch also noted that President Donald Trump and Treasury Secretary Steven Mnuchin made clear on a conference call how important it was to support drive-thru, takeout, and delivery business during this time -- with an emphasis on making these interactions safe, sanitized, and with little to no contact.