Tuesday's Hottest Stocks: Celestica, Keurig, and Amazon
Investors fearful of artificial intelligence bubble stock would have missed Celestica (CLS). The company reported strong third-quarter results and raised its Q4 outlook. CLS stock jumped by 10% in after-hours trading.
Celestica earned $1.58 a share (non-GAAP). Revenue increased by 27.6% Y/Y to $3.19 billion. In Q4, it is forecasting a $1.52 EPS and revenue of $3.10 billion.
In the beverage sector, Keurig Dr Pepper (KDP) might follow through with Monday’s rally. KDP stock increased by 7.62% after posting third-quarter results. Confidence increased after the firm revealed two strategic investments.
- Apollo Global (APO) and KKR (KKR) will invest $4 billion in their pod manufacturing joint venture.
- The firm gets $3 billion through a convertible preferred stock investment.
The investment might not benefit shareholders. Bankers might squeeze profits from the funding, but challenges loom.
Author's summary: Celestica and Keurig stocks rise after strong Q3 results.
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