Wall Street Breakfast Podcast: Celestica Good But Not Good Enough
Celestica's stock declined despite beating Q1 earnings estimates and issuing strong guidance, likely due to prior significant gains. POET Technologies continued to fall after losing a key contract with Marvell over confidentiality breaches. German Chancellor Friedrich Merz criticized U.S. strategy on Iran, calling it poorly planned and damaging to international relations. Market sentiment remains cautious ahead of major earnings and the Federal Reserve meeting.
- ▪Celestica reported Q1 EPS of $2.16, above the $2.09 consensus, with revenue of $4.05B roughly in line with expectations.
- ▪The company projected Q2 EPS between $2.14 and $2.34 and sales between $4.15B and $4.45B, both above consensus estimates.
- ▪POET Technologies disclosed it lost a contract with Marvell due to unauthorized disclosures about purchase and shipping details.
- ▪German Chancellor Friedrich Merz stated the U.S. lacked a coherent strategy in its actions toward Iran and criticized the prolonged conflict.
- ▪Kumquat Research upgraded Celestica to Strong Buy, citing its manufacturing moat and lower risk compared to high-beta AI peers.
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