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% year-over-year to $3.19 billion. For Q4, the company forecasts a $1.52 EPS and revenue of $3.10 billion.
In the beverage sector, Keurig Dr Pepper (KDP) may follow Monday's rally after its stock increased by 7.62% following the release of its third-quarter results. The company announced two strategic investments, including a $4 billion investment from Apollo Global (APO) and KKR (KKR) in its 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.
Investors fearful of artificial intelligence bubble stock would have missed Celestica (CLS).
Author's summary: Celestica and Keurig Dr Pepper stocks rise after strong Q3 results.
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