We recently compiled a list of the 10 Firms Lead Thursday's Rally on Better Earnings, Bargain-Hunting. In this article, we are going to take a look at where Celestica Inc. (NYSE:CLS) stands against the other stocks.

Optimistic sentiment continued to drive Wall Street on Thursday, with all major indices closing higher.

The Dow Jones Industrial Average rose by 0.38 percent, the S&P 500 grew 0.53 percent, and the Nasdaq Composite was up by 0.25 percent.

Ten companies posted notable gains, largely fueled by strong earnings results for the fourth quarter and full-year 2024.

To come up with Thursday's top gainers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A close-up of a circuit board with components depicting the intricate electronic componentry products the company produces.

Celestica Inc. (NYSE:CLS)

Electronics manufacturer Celestica Inc. grew its share prices by 13.59 percent on Thursday to end at $114.15 each as investor sentiment was boosted by better-than-expected earnings last year coupled with an improved outlook for 2025.

In a statement released late Wednesday, Celestica said revenues for the fourth quarter of the year jumped by 19 percent to $2.55 billion, topping analyst expectations of $2.49 billion.

Earnings per share during the same period surged to $1.29 from 77 cents year-on-year.

Looking ahead, Celestica said it raised its full-year outlook as a reflection of its strengthening demand in Connectivity and Clouds Solutions (CCS) segment.

“We now anticipate revenue of $10.7 billion, an increase from our previous outlook of $10.4 billion, and non-GAAP adjusted EPS of $4.75, up from our previous outlook of $4.42,” Celestica said.

“Overall, the current demand environment for data center hardware is robust, as evidenced by recent customer forecasts as well as new AI program awards over the last 90 days, including our second and third 1.6T program wins. As such, we believe the positive momentum we are experiencing will continue beyond this year, and into 2026.”

Overall CLS ranks 4th on our list of Thursday's top gainers. While we acknowledge the potential of CLS as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than CLS but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

 

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.

 

Disclosure: None. This article is originally published at Insider Monkey.