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 Ruby Tuesday (NYSE: RT) rallied as much as 10% earlier this morning after the company reported its second-quarter results.

So what: The casual-dining chain's earnings results easily surpassed analyst expectations, and potentially signaled consumers' willingness to return to discretionary spending. It reported a $0.07 quarterly profit versus the analyst consensus of $0.05, while showing a 4.2% rise in year-over-year same-store sales. Operating margins rose 140 basis points.

Now what: Ruby Tuesday has had an amazing run, dating back to its lows of under $1 in March 2009. Those who were brave enough to purchase shares back then have been more than rewarded; the company has returned to profitability while also growing revenue. Unfortunately, its forward guidance was a bit lacking. Same-store sales growth is expected to slow to 0% to 2% for the full year ending in May, and Ruby Tuesday's end-of-year earnings guidance of $0.76 to $0.86 seems just shy of analysts' $0.86 consensus estimate. Unfortunately, low single-digit revenue growth figures just aren't enough to entice me to take a bite out of Ruby Tuesday at these levels.

Interested in more info on Ruby Tuesday? Add it to your watchlist by clicking here.

Fool contributor Sean Williams does not own shares in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.