Tuesday's Hottest Stocks
Investors who feared an artificial intelligence bubble stock would have missed out on 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. For Q4, the company is forecasting a $1.52 EPS and revenue of $3.10 billion.
Keurig Dr Pepper
In the beverage sector, Keurig Dr Pepper (KDP) may follow through with Monday's rally, with KDP stock increasing by 7.62% after posting 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 necessarily benefit shareholders, as bankers may squeeze profits from the funding, and challenges still loom.
Investors should be cautious of potential challenges despite the investments.
Author's summary: Stocks like Celestica and Keurig Dr Pepper saw significant gains.
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