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 the stock to jump 10% in after-hours trading.
- Celestica earned $1.58 per share (non-GAAP) with a 27.6% year-over-year revenue increase to $3.19 billion.
- For Q4, the company forecasts $1.52 EPS and $3.10 billion in revenue.
In the beverage sector, Keurig Dr Pepper (KDP) may continue its rally after a 7.62% stock increase following the release of its 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, and a $3 billion convertible preferred stock investment.
However, the investment may 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 on Tuesday.
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