Why Red Robin Gourmet Burgers, Hertz Global Holdings, and Novo Nordisk Jumped Today

The stock market fell again on Wednesday, posting what has become an increasingly rare two-day losing streak. Major benchmarks gave up modest amounts of ground in the wake of some disappointing high-profile earnings reports, and some investors also pointed to increasing tensions between the U.S. and North Korea for fueling concerns about a market correction. Yet even with a downbeat tone overall, some stocks managed to buck the trend. Red Robin Gourmet Burgers (NASDAQ: RRGB), Hertz Global Holdings (NYSE: HTZ), and Novo Nordisk (NYSE: NVO) were among the best performers on the day. Below, we'll look more closely at these stocks to tell you why they did so well.

Shares of Red Robin Gourmet Burgers sizzled higher by 9% after the company announced its second-quarter financial results. The burger chain said that comparable-restaurant sales rose for the first time in more than a year, posting a 0.5% gain, and overall revenue climbed slightly. Even though Red Robin's bottom line suffered slightly, CEO Denny Marie Post was happy about the early results from its lower-priced Tavern Double burger menu, and efforts to rein in costs appear to be making progress. Analysts at BTIG responded to the report by upgrading Red Robin stock, and investors hope that this could be the beginning of a rebound for the hard-hit restaurant industry more broadly.

Image source: Red Robin Gourmet Burgers.

Continue reading

Source: Fool.com