Tuesday's Hottest Stocks: Celestica, Keurig, and Amazon
Investors who feared an artificial intelligence bubble would have missed out on Celestica (CLS), which reported strong third-quarter results and raised its Q4 outlook, causing CLS stock to jump 10% in after-hours trading.
Celestica earned $1.58 a share (non-GAAP) with revenue increasing by 27.6% Y/Y to $3.19 billion. The company is forecasting a $1.52 EPS and revenue of $3.10 billion in Q4.
In the beverage sector, Keurig Dr Pepper (KDP) may follow through with Monday's rally after its stock increased by 7.62% following the release of its third-quarter results. The firm revealed two strategic investments, including a $4 billion investment from Apollo Global (APO) and KKR (KKR) in their pod manufacturing joint venture, as well as a $3 billion convertible preferred stock investment.
However, the investment may not necessarily benefit shareholders, as bankers may squeeze profits from the funding, and challenges still loom.
No direct quote available in the text.
Author's summary: Celestica and Keurig Dr Pepper stocks rise.
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