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☆ Here are Tuesday's biggest analyst calls: Netflix, Apple, IBM, Coinbase, Nike, Domino's, Meta, Charles Schwab and more
▼ + stars: | 2023-12-05 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Goldman Sachs reiterates Nike as buy After a transfer of analyst coverage, Goldman Sachs said it sees improving growth for Nike shares. UBS downgrades United Rentals to neutral from buy UBS said in its downgrade of the equipment rental company that it sees a more balanced risk/reward. UBS reiterates Apple as neutral UBS said its analysis of Apple's App Store shows revenue increasing. UBS reiterates Netflix as buy UBS said it's standing by its buy rating on Netflix shares after hosting the company at a conference. William Blair reiterates Charles Schwab as outperform William Blair named Schwab a top pick for 2024, noting it's well-positioned.

Persons: Raymond James, Piper Sandler downgrades Albemarle, Piper Sandler, it's, Goldman Sachs, Roth, Roth MKM, TD Cowen, Bernstein, Mizuho downgrades Prologis, Wells, Wells Fargo, Oppenheimer, Domino's, Elliott, Morgan Stanley, Meta, Needham, Coinbase, JPMorgan, Raymond James downgrades Lululemon, LULU, Strong, William Blair, Charles Schwab, Schwab Organizations: Crescent Energy, Energy Company, Eagle Ford, UW, Nike, Bank of America, UBS, Credit Suisse, Yale, HY, United Rentals, Apple, Semiconductors, JPMorgan, IBM, Consulting, Mizuho, Marriott, of America, Netflix, Management, Integra, Financial, ISI, Disney, BR, Cargo Therapeutics, Citi, Travere Therapeutics Locations: Houston, Uinta, Eagle, LTHM, 2024E, 2025E, Argentina, Boston, China, Mexican

Yellen will tour a Livent Corp (LTHM.N) facility in Bessemer City, North Carolina, that processes lithium hydroxide, a key ingredient in electric vehicle batteries. The plant near Charlotte is doubling its capacity due to increased demand for electric vehicles spurred by consumer tax credits of up $7,500 approved in the 2022 Inflation Reduction Act. These include $142 billion in EVs and batteries and $71 billion in clean energy manufacturing, and she attributed much of the investment to tax credits in the inflation reduction act. The Biden administration in coming days is expected to release new guidance on the levels of Chinese content that EV batteries can have and still qualify for IRA tax credits. It will take time for this to fade and for people to feel the benefits of higher wages, he added.

Persons: Janet Yellen, Joe Biden, Yellen, Biden, Donald Trump, Larry Sabato, we're, Sabato, David Lawder, Howard Schneider, Chizu Organizations: . Treasury, U.S, Livent Corp, Midwest, EV, University of Virginia's Center, Politics, Thomson Locations: North Carolina, Bessemer City , North Carolina, Charlotte, EVs, Argentina, Canada, U.S

Livent CEO Paul Graves will take the top job at the newly minted Arcadium Lithium, if Allkem shareholders vote for the deal on Dec. 19. Merging the two companies would create the world's third-largest lithium producer by volume with assets spanning Australia, Canada and Argentina. Graves has said that one of his first priorities would be expanding Arcadium's footprint in Western Australia's world-class lithium districts. Under the deal, Allkem shareholders will get one share in the combined entity for each of their shares and the company will ultimately own 56% of the new firm. Livent shareholders will get 2.406 shares in the new firm, which will be called Arcadium Lithium, for each existing share.

Persons: Arcadium, Paul Graves, Kroll, Chile's, Graves, Albemarle, Livent Corp, Livent, Allkem, Scott Murdoch, Melanie Burton, Robert Birsel Organizations: JV, SYDNEY, Albemarle Corp, Liontown Resources, Hancock, Livent, FMC Corp, Galaxy Resources, Thomson Locations: Australia, U.S, Canada, Argentina, Western Australia, Sydney, Melbourne

☆ Albemarle cuts annual forecast on slumping lithium prices
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

A lithium evaporation pond is seen at Albemarle Lithium production facility in Silver Peak, Nevada, U.S. October 6, 2022. REUTERS/Carlos Barria/File Photo Acquire Licensing RightsNov 1 (Reuters) - Albemarle (ALB.N), the world's largest producer of lithium for electric vehicle batteries, trimmed its annual forecast on Wednesday and reported a lower-than-expected quarterly profit amid slumping prices for the ultralight metal. That is reflected in lithium prices, which have tumbled more than 60% this year. Albemarle reported third-quarter net income of $302.5 million, or $2.57 per share, compared to $897.2 million, or $7.61 per share, in the year-ago period. For the year, the company trimmed its net sales forecast to a range of $9.5 billion to $9.8 billion.

Persons: Carlos Barria, Albemarle, Hancock, Gina Rinehart, Ernest Scheyder, Chris Reese, David Gregorio Our Organizations: REUTERS, Liontown Resources, Thomson Locations: Albemarle, Silver, , Nevada, U.S, Charlotte, North Carolina, Argentina

☆ Lower prices, oversupply to weigh on lithium miners
▼ + stars: | 2023-10-30 | by ( Arunima Kumar | ) www.reuters.com time to read: +2 min

Lithium miners have had a tough year as weak electric vehicle (EV) sales growth led to high stockpiles and sent prices of the metal tumbling down. The Chinese spot battery grade lithium carbonate prices, fell around 45% to 165,000 Chinese Yuan ($22,561.63) per tonne during the July-September quarter. Reuters GraphicsAnalysts also flagged additional supplies from new projects coming online to further weigh on lithium prices. Albemarle is expected to report quarterly results on Wednesday, while smaller rival Livent is scheduled for Tuesday. ($1 = 7.3133 Chinese yuan renminbi)Reporting by Arunima Kumar in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Ivan Alvarado, Raymond James, Pavel Molchanov, Overcapacity, Jefferies, Laurence Alexander, Piper Sandler, Charles Neivert, Kyle Winborne, Arunima Kumar, Krishna Chandra Organizations: REUTERS, Albemarle Corp, EV, Reuters, Reuters Graphics, Thomson Locations: Albemarle, Antofagasta region, Chile, oversupplied, China, Livent, Bengaluru

☆ Here are Wednesday's biggest analyst calls: Nvidia, Apple, Microsoft, Gap, Verizon, Alphabet & more
▼ + stars: | 2023-10-25 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Wells Fargo upgrades Gap to overweight from equal weight Wells said the turnaround is taking shape for Gap. Deutsche Bank upgrades Livent to buy from hold Deutsche said it sees an attractive entry point for the lithium company. Bank of America downgrades TransUnion to underperform from buy Bank of America double downgraded the stock due to concerns about consumer lending. Bank of America initiates Syndax as buy Bank of America said it sees upside for the pharmaceutical company. Monness, Crespi, Hardt & Co. downgrades Alphabet to neutral from buy Monness said it's concerned about regulatory headwinds.

Persons: TD Cowen, Freyr, FREY, Goldman Sachs, Goldman, it's, We're, Wells, Needham, Etsy, Piper Sandler, Piper, TRU, SocGen, Bernstein, Deutsche Bank downgrades Corning, 2H24, Jefferies, Monness, Crespi, Hardt, Piper Sandler downgrades Livent Organizations: EV, Apple, BMO, Bank of America, Microsoft, GPS, Alto Networks, Deutsche Bank, Deutsche, Citi, TAM, Barclays, Verizon, Piper Sandler downgrades Regions, Citizens Financial, RF, " Bank of America, Farfetch, Machinery, UBS, Nvidia, Veeva, Commercial, Syndax Pharmaceuticals Locations: EVgo, Cybersecurity, Corning, Albemarle, LTHM

☆ Posco-backed group invests in lithium technology startup EnergyX
▼ + stars: | 2023-10-17 | by ( Ernest Scheyder | Thomson Reuters | Ernest Scheyder Is An Award-Winning Senior Correspondent Covering The Green Energy Transition | ) www.reuters.com time to read: +3 min

Posco, which invests through those funds, will work with EnergyX to help its technology reach commercial production, the companies said. The companies declined to say how much of the EnergyX Series B that the consortium is funding. Reuters reported in April that the EnergyX Series B is being led by General Motors (GM.N). Allkem (AKE.AX), Livent (LTHM.N) and others produce lithium nearby. In addition to working with Posco, EnergyX is looking for Argentine brine deposits to purchase, Egan said, though he declined to be more specific.

Persons: Kim Hong, EnergyX, Jaeho Rhee, Posco's Sal, Teague Egan, Posco, Egan, China's CATL, Ernest Scheyder, Stephen Coates Organizations: REUTERS, South, Posco Holdings, EnergyX, Elohim Partners, IMM Investment, Reuters, General Motors, EnergyX's, GM, Thomson Locations: Seoul, South Korea, KS, Argentina, Oro, Argentina's Salta Province, Posco's, Posco, Chile, Bolivia, South

☆ Lithium producers warn global supplies may not meet electric vehicle demand
▼ + stars: | 2023-06-22 | by ( Ernest Scheyder | Thomson Reuters | Ernest Scheyder Is An Award-Winning Senior Correspondent Covering The Green Energy Transition | ) www.reuters.com time to read: +4 min

"You could end up in a crisis situation where the battery companies don't have the security of (lithium) feedstock," Stu Crow, chairman of Lake Resources (LKE.AX), said on the sidelines of this week's Fastmarkets Lithium and Battery Raw Materials conference in Las Vegas. This week, Lake Resources became the latest lithium company to announce a project delay, pushing back first production from its Kachi lithium project in Argentina by three years. Albemarle (ALB.N), the world's largest lithium producer, is growing rapidly across the Americas, Asia and Australia. Still, it expects global lithium demand to exceed supply by 500,000 metric tons in 2030. ATTENDANCEOnce a niche event attended by industry die-hards, the Fastmarkets conference has grown rapidly alongside breakneck lithium demand.

Persons: Stu Crow, Eric Norris, Sarah Maryssael, Allkem, Goldman Sachs, Rahim Bapoo, Tara Berrie, Ernest Scheyder, David Gregorio Our Organizations: LAS VEGAS, Ford, Lake Resources, Raw Materials, Exxon Mobil, Banking, JPMorgan, BMO Capital Markets, Mitsui, hasn't, Rivian, Thomson Locations: Stellantis, Las Vegas, Argentina, Americas, Asia, Australia

☆ Here are Thursday's biggest analyst calls: Nvidia, Tesla, Chipotle, Chevron, Netflix, Meta, Target and more
▼ + stars: | 2023-06-15 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Bernstein reiterates Target as outperform Bernstein said investors should buy the weakness in Target shares. UBS reiterates Chipotle as buy UBS said the Mexican chain is "well positioned w/ drivers to support transaction and sales growth." RBC reiterates Tesla as outperform RBC raised its price target to $305 per share from $212 and said it's bullish on Tesla's autonomy future. " TD Cowen reiterates Netflix as outperform TD Cowen raised its price target on the stock to $500 per share from $440 and says it's well-positioned. UBS reiterates Chevron as buy UBS said it sees "balance sheet strength & dividend growth" for Chevron.

Persons: Evercore, it's bullish, Emerson, Bernstein, Mizuho, Coinbase, Moody's, Guggenheim, McDonald's, Chipotle, Morgan Stanley, Goldman Sachs, Goldman, Wells, Wells Fargo, Tesla, it's, Oppenheimer, SoFi, Uber, Jefferies, TD Cowen, NFLX, Cowen, Stifel Organizations: ISI, Energy & Materials, Livent, HSBC, Emerson, " Bank of America, P, Bank of America, Citi, American Express Citi, American, Citi Credit Card, Travel & Entertainment, RBC, Nvidia, UBS, Mobile, Diageo, Spirits, Deutsche Bank, JPMorgan, Microsoft, Netflix, Corning, Chevron, Meta, DR Locations: Mexican, Allegiant, Edgewater

☆ Factbox: Ford strikes multiple lithium deals to ramp up EV production
▼ + stars: | 2023-05-22 | by ( ) www.reuters.com time to read: +2 min

COMPASS MINERALS (CMP.N):Ford signed a five-year supply agreement to obtain battery-grade lithium carbonate from Compass' lithium brine development project in Ogden, Utah. Under the agreement, Compass Minerals will deliver up to 40% of its planned, phase-one battery-grade lithium carbonate to Ford once production begins. NEMASKA LITHIUM:Nemaska Lithium, owned by Investissement Québec and Livent (LTHM.N), will supply lithium products, including lithium hydroxide, to Ford over an 11-year period. ENERGYSOURCE MINERALS:EnergySource Minerals will supply lithium hydroxide produced at its Imperial Valley, California site which is expected to be operational in 2025. SOCIEDAD QUIMICA Y MINERA DE CHILE S.A. (SQM):Chile's SQM (SQMA.SN) and Ford have agreed to a long-term lithium supply agreement, the Chilean lithium miner said in a statement Monday.

☆ Ford signs battery material supply deals to charge up EV output
▼ + stars: | 2023-05-22 | by ( ) www.reuters.com time to read: +2 min

May 22 (Reuters) - Ford Motor Co (F.N) on Monday unveiled three deals for the supply of lithium products, including lithium hydroxide, as the automaker ramps up electric vehicle (EV) production to 2 million units by the end of 2026. The deals come as North American automakers race to secure supplies of battery materials to boost EV output and catch up with market leader Tesla Inc (TSLA.O) amid surging demand for environment-friendly vehicles. The long-term deal with Canada's Nemaska Lithium is for the supply of up to 13,000 tons of lithium hydroxide every year, while the contract with EnergySource Minerals will help Ford receive lithium hydroxide from the Imperial Valley, California site, expected to be operational in 2025. Ford also disclosed a five-year agreement with Albemarle Corp (ALB.N) to supply more than 100,000 metric tons of battery-grade lithium hydroxide for about 3 million future Ford EV batteries. The lithium hydroxide produced by Nemaska should help qualify Ford vehicles for consumer tax benefits under the U.S. Inflation Reduction Act, the automaker said.

A super-charged two-year rally, which saw Chinese spot lithium carbonate prices rise by tenfold, went into brutal reverse over the first part of this year. The slump in China's spot price dragged down the whole lithium pricing chain from spodumene concentrate to hydroxide, albeit to highly varying degrees. But lithium's roller-coaster ride highlights the important role China's spot market and the Wuxi futures exchange play in the fast-growing industry's price discovery process. Many lithium buyers, in other words, will be paying higher prices this year whatever happens in the Chinese spot market. The collapse in China's spot price has far exceeded the decline in the price of Australian spodumene, another closely tracked market indicator.

☆ Analysis: GM's 2025 EV output could be crimped by battery bottleneck
▼ + stars: | 2023-05-18 | by ( Paul Lienert | ) www.reuters.com time to read: +4 min

"We have not changed our targets," GM spokesman Jim Cain said. Those targets include cumulative EV production of 400,000 from early 2022 through mid-2024, a revised goal that CEO Mary Barra reiterated earlier this year. "We believe GM’s targets are hittable despite hurdles to get there," Wedbush auto analyst Dan Ives said. GM has not issued specific North American EV production targets for 2024 and 2025. GM’s North American EV production targets beyond 2025 “will continue to push the limits” of its battery plants, according to AFS, including a recently announced fourth factory with new partner Samsung SDI (006400.KS) that isn’t expected to open until 2026.

☆ Lithium has started coming back after a 'freefall' in China. What to know about the investing landscape
▼ + stars: | 2023-05-17 | by ( Alex Harring | ) www.cnbc.com time to read: +6 min

Investors should focus on the long-term story in the lithium investing landscape, not the volatile price swings seen in recent months. Moves in China are driving changes in the global market for lithium as demand for electric vehicles increases, said Keybanc analyst Aleksey Yefremov. DeYoe reiterated his buy rating on Canadian producer Sigma Lithium earlier this month, calling it "the next big thing in lithium." Among the biggest names: Global X has a Lithium & Battery Tech ETF , Sprott has a Lithium Miners ETF and Horizons Global has a Lithium Producers Index ETF . "That's going to be quite a challenge, if we don't literally right now start digging up and finding sites for lithium," Langan said.

☆ Top shareholder Toyota 'quite positive' on Allkem-Livent tie-up - Allkem
▼ + stars: | 2023-05-11 | by ( ) www.reuters.com time to read: +1 min

MELBOURNE, May 11 (Reuters) - Top Allkem Ltd (AKE.AX) shareholder Toyota is "quite positive" about a $10.6 billion tie-up plan with U.S.-based lithium chemicals maker Livent Corp (LTHM.N), Allkem's CEO said on Thursday as shares in his Australian-listed company surged. Allkem Ltd and Livent said on Wednesday they would combine in an all-stock deal to create the world's third-largest producer of lithium, a key metal for electric vehicle batteries. Toyota Tsusho Corp (8015.T), the Japanese automaker's trading arm, holds 6.16% of Allkem's shares. "Toyota is aware of the transaction... it is quite positive, their reaction to the deal," Allkem CEO Martin Pérez de Solay told Reuters. Livent shares ended up 5.2% on the New York Stock Exchange.

"Markets reacted positively because they saw the inflation data as a small positive," said Michael Harris, president at hedge fund Quest Partners LLC. The rate-sensitive S&P 500 technology sector index (.SPLRCT) went up 1.22% and the communication services (.SPLRCL) rose 1.69%. REUTERS/Brendan McDermidIndexes were choppy during the session, as investors digested the positive inflation print with concerns about the looming debt ceiling. Advancing issues outnumbered decliners on the NYSE by a 1.32-to-1 ratio; on Nasdaq, a 1.40-to-1 ratio favored advancers. The S&P 500 posted 18 new 52-week highs and 11 new lows; the Nasdaq Composite recorded 86 new highs and 152 new lows.

The Labor Department's Consumer Price Index (CPI) rose 4.9% in April from a year ago and compared with expectations of a 5% increase. The lower-than-expected inflation data drove the Nasdaq Composite Index (.IXIC) up as much as 1.17% to its highest intraday level in more than eight months. The rate-sensitive S&P 500 technology sector index (.SPLRCT) rose 0.82%, while communication services (.SPLRCL) was up 1.21%. Declining issues outnumbered advancers on the NYSE by a 1.17-to-1 ratio; on Nasdaq, a 1.03-to-1 ratio favored advancers. The S&P 500 posted 14 new 52-week highs and 11 new lows; the Nasdaq Composite recorded 71 new highs and 135 new lows.

The Labor Department's Consumer Price Index (CPI) rose 4.9% in April from a year ago and compared with expectations of a 5% increase. "You still have a reasonably strong economy and rates that are not going any higher." ET, Dow e-minis were up 181 points, or 0.54%, S&P 500 e-minis were up 33.75 points, or 0.82%, and Nasdaq 100 e-minis were up 116.25 points, or 0.88%. Shares of regional banks rose after a few volatile sessions last week on concerns about the health of the sector. Oil and gas producer Occidental Petroleum Corp (OXY.N) fell 0.9% after its first-quarter earnings fell short of analysts' estimates.

Large-cap technology stocks, including Apple Inc (AAPL.O) and Microsoft Corp (MSFT.O), dipped about 0.4% each in premarket trading. ET, Dow e-minis were down 62 points, or 0.18%, S&P 500 e-minis were down 7.25 points, or 0.18%, and Nasdaq 100 e-minis were down 25.25 points, or 0.19%. PacWest Bancorp (PACW.O) fell 2.5%, while Zions Bancorporation (ZION.O) and Western Alliance Bank (WAL.N) inched up 0.7% and 0.6%, respectively. Oil and gas producer Occidental Petroleum Corp (OXY.N) fell 1.5% after its first-quarter earnings fell short of analysts' estimates. Airbnb Inc (ABNB.O) lost 13.5% as the vacation rental booking company saw fewer bookings and lower average daily rates in the second quarter.

☆ Australia's Allkem, Livent to merge into $10.6 bln lithium giant
▼ + stars: | 2023-05-10 | by ( Harish Sridharan | ) www.reuters.com time to read: +2 min

May 10 (Reuters) - Lithium producer Allkem Ltd (AKE.AX) has agreed to merge with U.S.-based Livent Corp (LTHM.N) to create one of the world's most valuable producers of the key raw materials used in electric-vehicle batteries. The all-stock deal will create a $10.6 billion entity, the fifth-largest in the world after Albemarle Corp (ALB.N), Sociedad Quimica y Minera de Chile S.A. (SQMA.SN), Ganfeng Lithium Group (002460.SZ) and Tianqi Lithium Corp (002466.SZ). ASX-listed Allkem produces lithium carbonate from its Sal de Vida facility in Argentina, which is near Livent's Hombre Mureto lithium project. Livent, based in Philadelphia, supplies lithium products to multiple U.S. automakers, including General Motors Co (GM.N), Tesla Inc (TSLA.O) and BMW (BMWG.DE). Under the deal, Allkem shareholders will get one share in the combined entity for each of their shares and the company will ultimately own 56% of the new firm.

☆ Allkem to merge with US lithium producer Livent Corp in $10 bln deal - report
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: 1 min

May 10 (Reuters) - Australian lithium miner Allkem Ltd (AKE.AX) has inked a $10 billion merger agreement with U.S.-based chemical manufacturing firm Livent Corp (LTHM.N), the Australian Financial Review reported on Wednesday. The deal is anticipated to be announced overnight in the U.S., the report said. Reporting by Rishav Chatterjee in Bengaluru; Editing by Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.

Musk said Tesla aimed to finish construction of the factory next year and then reach full production about a year later. We need lithium," Texas Governor Greg Abbott said at the ceremony. Musk has urged entrepreneurs to enter the lithium refining business, saying it is like "minting money." The refinery is the latest expansion by Tesla into Texas after the company moved its headquarters there from California in 2021. "We are proud that he calls Texas home," Abbott said, saying Tesla and Musk are "Texas's economic juggernauts."

[1/2] Lithium evaporation ponds are seen at Albemarle Lithium production facility in Silver Peak, Nevada, U.S. October 6, 2022. REUTERS/Carlos BarriaMay 3 (Reuters) - Lithium producer Albemarle Corp (ALB.N) cut its annual profit forecast on Wednesday despite posting a better-than-expected quarterly earnings, citing softening prices for the metal used to make electric vehicle batteries. For the year, Albemarle cut its sales forecast to a range of $9.8 billion to $11.5 billion, from a prior forecast of $11.3 billion to $12.9 billion. The adjusted earnings forecast was trimmed to a range of $3.3 billion to $4 billion, from a prior $4.2 billion to $5.1 billion. Australian officials said earlier on Wednesday that Albemarle had agreed to spend $1 billion to expand lithium processing facilities in Western Australia.

☆ As lithium miners gear up for Q1 earnings, investors focus on tumbling prices
▼ + stars: | 2023-05-02 | by ( Arshreet Singh | ) www.reuters.com time to read: +2 min

Strong demand for EVs and limited supply of the metal pushed lithium prices to record levels in November last year, soaring more than ten-fold from early 2021. But a slump in demand for electric vehicles in China, the world's biggest market, left a stockpile of the metal and drove prices down. Lithium prices have fallen by at least a third in the first quarter, according to an index tracked by Benchmark Mineral Intelligence, raising concerns miners will see a hit to their bottomline. Though falling spot prices have raised red flags for investors over the long-term outlook of lithium miners, analysts believe spot prices will rise again as we get closer to the end of the year. In the long run, supply will continue to fall short of demand, which will help the miners, he added.

May 2 (Reuters) - Lithium producer Livent Corp (LTHM.N) boosted its annual forecast on Tuesday after reporting better-than-expected quarterly profit, a bullish outlook fueled by rising prices and demand for the metal used to make electric vehicle batteries. While spot lithium prices in China had softened earlier this year, fueling concern the industry was entering a period of oversupply, Livent's results reflect strong appetite for its lithium and reinforce the company's strategy of selling the metal largely using long-term contracts. Excluding one-time items, Livent earned 60 cents per share. By that measure, analysts expected earnings of 39 cents per share, according to IBES data from Refinitiv. For the year, Livent boosted its revenue forecast to a range of $1.03 billion to $1.13 billion, from a previous range of $1 billion to $1.1 billion.

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