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Red Robin Moves Notably Higher After Seeing Initial Weakness

After initially moving to the downside, shares of Red Robin Gourmet Burgers, Inc. (RRGB) have moved notably higher over the course of the trading session on Wednesday. Red Robin is currently up by 3.9 percent.

The rebound by Red Robin comes after the restaurant chain reported third quarter adjusted earnings of $0.16 per share compared to analyst estimates for $0.12 per share.

However, Red Robin also reported weaker than expected revenues for the quarter amid a drop in comparable restaurant sales and lowered is full-year revenue guidance.

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