Domino’s Pizza Surges After Delivering Solid Quarter

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Sometimes the news just needs to be decent to get a stock moving.

Take Domino’s Pizza. It reported that profit and revenue edged higher in the first quarter, but same-store sales slipped 1.4% in the quarter after surging 14.3% last year.

The stock? Up about 10% at its highest level of the past year on heavy volume. Probably a few Domino’s shorts getting squeezed today. The company’s short interest has risen in the past  month to about 4 times the company’s average daily trading volume.

Investors were impressed that Domino’s retained much of the market share gains it has made in the past year. Also, international sales remained strong (it’s amazing how expensive a Domino’s pizza is in London), with same-store sales up 8.3%. Global sales also got a boost…