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-0.109 (-1.17%)At close
RRGB News
RRGB Events
Stock Futures Modestly Higher, Cerebras Systems Down 15%
Stock futures are modestly higher as investors digest softer-than-feared Producer Price Index data that follows yesterday's July CPI report.The Fed outlook has become somewhat more favorable for equities following the inflation data and the weak July employment report. Markets are now pricing roughly a 66% probability that the Fed holds rates steady at its next meeting, according to Reuters.Technology and AI infrastructure stocks remain an important source of strength. At the same time, Cerebras Systems is under pressure after its results missed expectations, highlighting how high expectations have become for companies tied to the AI buildout.Oil prices are providing some relief after six consecutive sessions of gains. Brent crude has fallen roughly 2% as concerns over global demand and rising U.S. crude inventories offset continued geopolitical risks surrounding Iran and the Strait of Hormuz.In pre-market trading, S&P 500 futures rose 0.17%, Nasdaq futures fell 0.02% and Dow futures rose 0.30%.Check out this morning's top movers from around Wall Street, compiled by The Fly.UP AFTER EARNINGS -Jack in the Boxup 15%EnerSysup 14%Birkenstockup 12%Grocery Outletup 9%McGraw Hillup 3%BK Technologiesup 2%Red Robinup 2%Belite Bioup 1%DOWN AFTER EARNINGS -Cerebras Systemsdown 15%Tapestrydown 10%Yetidown 9%Intuitive Machinesdown 9%Ciscodown 7%Coherentdown 6%JD,comdown 3%Bending Spoonsdown 2%
2026 Comparable Restaurant Revenue Growth Expected at 0.5%-1.5%
Sees 2026 comparable restaurant revenue growth, excluding deferred loyalty revenue, of 0.5%-1.5%; restaurant level operating profit of approximately 13.0%; and CapEx $25M-$30M.
Company Reports Q2 Revenue of $277.6M, Exceeding Expectations
Reports Q2 revenue $277.6M, consensus $265.8M. "Our Q2 delivered meaningful operating and financial improvement as we continue our disciplined execution of our First Choice plan," said CEO Dave Pace. "Our restaurant teams remained focused on delivering exceptional hospitality and operational excellence, resulting in the strongest second quarter traffic and restaurant-level operating profit margins in three years. During the quarter, we announced three refranchising agreements, representing a significant capital infusion of $96M in gross proceeds, which provides us financial flexibility to refinance our debt and support our long-term strategic priorities."
Red Robin Appoints Scott Hudler as Chief Marketing Officer
Red Robin announced the appointment of Scott Hudler as chief marketing officer. Hudler will begin his transition effective Sept. 8, and succeeds Russ Klein, who has served as interim chief marketing officer since April 2025. Most recently, Hudler served as senior vice president and chief marketing officer of Whataburger.
Red Robin Sells 86 Units for $72.5M
Red Robin Gourmet Burgers announced it has entered into two separate refranchising agreements with experienced multi-unit restaurant operators for the sale of 86 company-owned units for $72.5M. These units will continue operating under the same Red Robin brand guests love and trust. Under the terms of the agreements and following closing, the new franchisees will acquire and operate restaurants in the following markets: Op Burgers, LLC will acquire 69 units based in Kentucky, Indiana, Maryland, Ohio, North Carolina, Pennsylvania, South Carolina and Virginia for $62.5M. Kuber Oregon, LLC and Kuber Washington, LLC will acquire 17 units based in Oregon and Washington for $10M. These transactions follow the recent announcement of a refranchise transaction of 30 locations to Evergreen Dining, LLC announced on May 28, 2026. Together, these three transactions represent a combined transaction value of approximately $96M. The company intends to use the net proceeds from these transactions to pay down outstanding debt and execute on the refinancing priorities outlined in its "First Choice Plan."
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