Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of rustic eatery operator Texas Roadhouse (Nasdaq: TXRH) littered the trading floor today like discarded peanut shells, falling as much as 11.5% on very heavy volume.

So what: Second-quarter sales and earnings came in just short of Wall Street estimates, and management cut down its full-year earnings forecast to the bottom end of earlier projections. The company blames "inflationary pressures" for the adjustments.

Now what: That's a Texas-sized drop for problems on the scale of Rhode Island, if you get my drift. The chain still reports healthy same-store growth and balances out a modest debt load with a fat wallet. Like Buffalo Wild Wings (Nasdaq: BWLD) and Chipotle Mexican Grill (NYSE: CMG), Texas Roadhouse is taking a cautious approach to growth and thereby exposing its shareholders to less risk than debt-fueled growth-chasers such as Brinker International (NYSE: EAT).

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