Tuesday's Hottest Stocks
Investors who feared an artificial intelligence bubble 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.
Keurig Dr Pepper
In the beverage sector, Keurig Dr Pepper (KDP) might follow through with Monday’s rally after its stock increased by 7.62% following the posting of third-quarter results.
Confidence increased after 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 investment through a convertible preferred stock.
The investment might not benefit shareholders, as bankers might squeeze profits from the funding, but challenges loom.
Author's summary: Celestica and Keurig Dr Pepper stocks rise after strong Q3 results.
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