Tuesday's Hottest Stocks: Celestica, Keurig, and Amazon
Investors who feared an artificial intelligence bubble stock would have missed Celestica (CLS), which reported strong third-quarter results and raised its Q4 outlook, causing CLS stock to jump by 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 forecasts 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 posting of 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 benefit shareholders, as bankers may squeeze profits from the funding, and challenges loom.
Investors should be cautious of potential challenges despite the investments.
Author's summary: Celestica and Keurig stocks rose after strong Q3 results.
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