It's not the news, it's the market's reaction to the news. MIDD's earnings release came just after the market turned north. A few weeks earlier and the reaction would have been different, because the market was dinging stocks with a lack of organic sales growth, even though they beat on earnings. That was MIDD's problem before the recession, but it was masked by serial acquisitions and their ability to generate better earnings from their acquirees.
I think their restaurant chain customers need to increase their cap-ex, but that won't happen until they string together some monthly same-store-sales increases. At its core, MIDD is still pretty cyclical; I can wait until sales pick up.