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 per share (non-GAAP) with revenue increasing 27.6% year-over-year to $3.19 billion. For Q4, the company forecasts $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 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.
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Author's summary: Celestica and Keurig Dr Pepper stocks rise after strong Q3 results.