Like Darden, Landry's Restaurants (NYSE: LNY) is a large, diversified player in the casual dining segment.

One significant difference is its participation in the casino space with the Golden Nugget. The acquisition of Golden Nugget has not resulted in much benefit for the company as of yet. In fact, the deal increased LNY's debt level, which now stands near $1 billion.

LNY's stock dropped hard after trading for some time at the $30 level. At the bottom, one could buy shares at $3.60 per share.

The current recession has touched all sectors. The rules of the game have been changed, and nobody is safe. The paradigm is shifting.

One of the consequences of the current state is a new-found appreciation for savings in the U.S. A consumer who does not spend is bad news for the retail sector, and it is bad news for an economy dependent on consumer spending.

The one glimmer of hope comes from the restaurant space. When it became clear that this recession would be long and deep, consumers clamped wallets shut. Dining out in this environment was an easy luxury to cut.

One of the first movers seeing an uptick in spending due to increased consumer confidence is the restaurant space. Only a few diehards really like to stay home and cook. Dining out is a great way to escape. Even better is going to a restaurant for a meal that's affordable.

The fact that dining has suffered during this recession is indicative of how bad things really have been.

Given that confidence is rising, it's no surprise then that Landry's Restaurants (NYSE: LNY) has almost tripled in value since hitting bottom in early March.

While consumer confidence might have soared in April, the move seems to be in response to a two-month surge in stocks versus any real strength on the home front.

The jobs market is still poor with stagnant or declining wages. Corporations are still in lay-off mode and oil prices are marching ever higher. In other words, there are still hurdles to overcome before the "all clear" can be given.

I don't mean to rain on the parade of recovery, but let's not get too far ahead of ourselves.