Tuesday's Hottest Stocks
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 CLS stock to jump 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 is forecasting a $1.52 EPS and revenue of $3.10 billion in Q4.
Keurig Dr Pepper
In the beverage sector, Keurig Dr Pepper (KDP) may follow through with Monday's rally after its stock increased by 7.62% following the release of its third-quarter results. The company 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 still loom.
Investors should be cautious of the potential risks and challenges associated with these investments.
Author's summary: Celestica and Keurig Dr Pepper report strong Q3 results.
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