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. For Q4, the company is forecasting a $1.52 EPS and revenue of $3.10 billion.
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 company's confidence was boosted by 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 might not benefit shareholders, as bankers may squeeze profits from the funding, and challenges still loom.
Author's summary: Stocks like Celestica and Keurig Dr Pepper saw significant gains.