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 per share (non-GAAP) with revenue increasing 27.6% year-over-year to $3.19 billion. For Q4, the company forecasts $1.52 EPS and revenue of $3.10 billion.
Keurig Dr Pepper's Rally
In the beverage sector, Keurig Dr Pepper (KDP) may follow through with Monday's rally after its stock increased 7.62% following the release of its 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, 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 are looming.
Author's summary: Stocks like Celestica and Keurig Dr Pepper saw significant gains.