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 burger slinger Red Robin Gourmet Burgers (Nasdaq: RRGB) were getting snapped up by investors today as they gained as much 14% intraday trading after the company reported second-quarter results.

So what: What made Red Robin's quarter so tasty? Let's take a quick run down the menu. For the top line starter, we've got 3.7% year-over-year growth to $224 million with a side of 0.8% comparable-store sales growth. On the bottom line, earnings per share rose a scrumptious 8.3% to $0.52.

Ok, so honestly, the growth really wasn't that spectacular. And when we compare the results to analysts' estimates, EPS beat expectations by a penny, but revenue was lower than expected.

Now what: Without a resounding estimate-beating performance for the second quarter, I figured it was probably the company's "updated outlook" for the full year that sent the stock soaring. On the bright side, Red Robin now expects slightly better margins -- between 20% and 20.5%, versus a flat 20% in in its previous outlook. However, it also revised down its full-year outlook for comp-store sales growth from 1% down to 0.5%. That's not terribly encouraging.

To be sure, this wasn't a bad quarter out of Red Robin, but I don't really see a report here worthy of the big rally in the stock.

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