Celestica surged 17% in premarket trading after the Canadian electronics manufacturer reported third-quarter earnings and revenue above analyst expectations and raised its full-year outlook, as booming demand for artificial intelligence infrastructure continues to drive growth.
Chief Executive Rob Mionis said demand remained robust, particularly among major cloud service providers and companies developing advanced AI models. He added that customer demand forecasts for 2028 were meaningfully higher than the company's 2027 revenue outlook
Whirlpool fell 9% in premarket trading heading into Tuesday after the appliance maker missed third-quarter estimates and cut its 2026 outlook for the third time this year, now expecting an annual loss.
Wells Fargo kept its 'Equal Weight' rating and $30 price target on Whirlpool (which still implies a 13% upside from the stock's last close) following its Q3 results and revised forecast. The analyst said investors expected a difficult quarter, but the earnings shortfall was far worse. Weak profits in North America and Latin America, along with slower growth in small household appliances, fueled concerns about the company's recovery.
Rambus reported third quarter results that exceeded analyst expectations, but shares fell 2% in premarket trading as investors assessed the company’s fourth quarter guidance.
Cadence Design late Monday beat Wall Street's targets for the third quarter and raised its outlook for the full year. CDNS stock rose on the news.
HSBC shares fell more than 7% in premarket trading after the bank posted earnings that fell short of estimates in the third quarter and kept its outlook for the rest of year unchanged.
Pretax profit rose 32% to $9.6 billion in the period, the London-based lender said Tuesday, falling short of the $9.7 billion company-compiled estimate. Earnings were helped by elevated interest rates, inflows into its wealth business and lower-than-expected credit losses.
Comments