Major benchmarks finished slightly lower on Tuesday as investors tried to digest earnings reports even as they wait to see whether the Federal Reserve will step up with another interest rate cut this week. Market participants will parse the central bank's statement closely to try to get more guidance on whether the economy looks likely to remain strong or is showing signs of deteriorating. Even with indexes largely treading water, some stocks got extremely nice pops on good news. Transocean (NYSE:RIG), Texas Roadhouse (NASDAQ:TXRH), and Xerox Holdings (NYSE:XRX) were among the top performers. Here's why they did so well.

Surf's up for Transocean

Shares of Transocean climbed 8% after the offshore driller reported its third-quarter financial results. Transocean's numbers were mixed, as revenue moved higher by 3.4% from year-earlier levels but adjusted losses widened slightly over the same period. Impairment losses weighed on the company, especially in connection with three retiring floater rigs. Yet investors took heart from comments from CEO Jeremy Thigpen, who said that Transocean's seeing more interest in ultra-deepwater drilling projects in key areas like Brazil, West Africa, and the Gulf of Mexico. Oil prices still haven't really cooperated with Transocean, but shareholders have high hopes that further gains in crude could lead to greater offshore drilling activity.

Gray drillship with tower, cranes, and helipad on calm water.

Image source: Transocean.

Texas Roadhouse serves up great results

Texas Roadhouse saw its stock soar 20% after the steakhouse chain reported strong third-quarter performance. Revenue climbed 9% on a solid 4.4% increase in comparable-restaurant sales among its company-owned locations, and net income rose an impressive 25% compared to the year-earlier period. Labor costs continued to drag on Texas Roadhouse's profits somewhat, but the company was able to expand its network of locations, cut administrative costs, and buy back almost $19 million worth of its shares. Investors have been impressed by Texas Roadhouse and its ability to overcome challenges that some of its restaurant chain peers have struggled with, and that trend seems likely to continue indefinitely into the future.

Xerox prints more money

Finally, shares of Xerox Holdings gained 12%. The printer and copier manufacturer reported third-quarter earnings that were quite a bit healthier than many had predicted, including net income that more than doubled from the prior-year period. Even on an adjusted basis, Xerox's earnings per share climbed 27% year over year, and CEO John Visentin was proud that the company managed to overcome industry headwinds to boost cash flow and improve margin levels. After having struggled for years, Xerox has built momentum throughout 2019, and stronger guidance points to an even brighter future for the copier king.