Big Earnings Beat Helps Red Robin Stock Soar During Down Day for Wider Market

Red Robin  (RRGB) shares were up nearly 20% in trading Wednesday afternoon, defying a 250 point drop by the Dow Jones, after the restaurant chain posted a much-wider-than-expected first quarter earnings beat. 

The company earned 89 cents per share on revenue of $418.6 million in the quarter, easily topping Wall Street's expectations of earnings of 57 cents per share on revenue of $416 million. 

The company guided full year earnings between $2.80 and $3.10 per share with more than half that amount accruing in the second half of the year. 

Retail's downturn giving you the blues? Jim Cramer has a list of retailers that are currently oversold, giving investors a leg up one of the market's most volatile sectors.

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