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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

☆ 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

☆ 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.

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.

Many DLE technologies use lots of potable water and electricity. SQM (SQMA.SN) and Albemarle Corp (ALB.N), Chile's two existing lithium producers, use evaporation ponds to produce the metal. Livent Corp (LTHM.N) uses a variation of DLE technology in Argentina alongside evaporation ponds. Lake Resources is working with Bill Gates-backed Lilac Solutions Inc to deploy Lilac's DLE technology in Argentina. In Chile, DLE companies see a business opportunity despite the nationalization plans given that Boric's new state lithium company is expected to need technical support.

☆ S&P 500 ends down as investors fret about interest rates
▼ + stars: | 2023-02-18 | by ( Noel Randewich | ) www.reuters.com time to read: +4 min

S&P 500 tradingMicrosoft Corp <MFST.O> fell 1.6% and Nvidia (NVDA.O) dipped 2.8%, both weighing on the S&P 500 as the yield on 10-year Treasury notes hit a three-month high. Of the 11 S&P 500 sector indexes, six rose, led by consumer staples (.SPLRCS), up 1.29%, followed by a 1% gain in Utilities (.SPLRCU). For the week, the S&P 500 fell 0.3%, the Dow lost 0.1% and the Nasdaq climbed 0.6%. Advancing issues outnumbered falling ones within the S&P 500 (.AD.SPX) by a 1.1-to-one ratio. The S&P 500 posted eight new highs and one new low; the Nasdaq recorded 75 new highs and 68 new lows.

Jan 24 (Reuters) - Albemarle Corp (ALB.N) on Tuesday called for lithium prices to remain high indefinitely in order to help the mining industry develop new sources of the electric vehicle (EV) battery metal and fuel the green energy transition. Lithium prices have more than doubled in the past year and are up nearly ninefold in the past three years, according to an index tracked by Benchmark Mineral Intelligence. For 2023, Albemarle expects the price it receives for its lithium to jump 40% over 2022 levels. That should dip this year, due to rising costs for lithium chloride and spodumene ore - both key feedstocks - though the company expects lithium margins to eventually stabilize around 45%. Norris, a longtime lithium industry executive, repeatedly stressed during a nearly two-hour presentation that Albemarle will produce lithium when its customers need the metal.

☆ Citi is bearish on lithium in the short term, but names 3 stocks
▼ + stars: | 2023-01-05 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

It expects lithium demand to increase its compound annual growth rate by around 20% by 2030, and that its supply will struggle to catch up. Names to watch Citi named three stocks to watch despite its cautious lithium outlook. Citi also likes Livent Corporation , which it gave a $27 target price, or 42% upside. For instance, Argentina recently imposed an export tax on certain products including lithium, Citi noted. Citi downgraded the stock from "buy" to "neutral" in mid-December, giving it a price target of $92 — with upside of about 20%.

☆ Livent swings to quarterly profit on rising lithium demand
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: 1 min

Nov 1 (Reuters) - Lithium producer Livent Corp (LTHM.N) on Tuesday said it swung to a quarterly profit largely due to rising demand and prices for the metal used to make electric vehicle batteries. The company posted third-quarter net income of $77.6 million, or 37 cents per share, compared to a net loss of $12.6 million, or 8 cents per share, in the year-ago period. Reporting by Ernest ScheyderOur Standards: The Thomson Reuters Trust Principles.

☆ Livent trims lithium sales and profit forecast; shares slip
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +1 min

Nov 1 (Reuters) - Lithium producer Livent Corp (LTHM.N) on Tuesday cut the top end of its 2022 earnings and sales forecast, citing inflation and other macroeconomic pressures weighing on its output of the electric vehicle battery metal. Shares fell 2.5% in after-hours trading following the news, despite Livent posting better-than-expected quarterly profit. Livent now expects 2022 sales of $815 million to $845 million, compared with a previous estimate for annual sales between $800 million to $860 million. The company also cut the top end of its adjusted profit forecast by $5 million, to $370 million. In August, Livent struck a six-year lithium supply deal worth nearly $200 million with General Motors Co (GM.N).

☆ GM to take equity stake in Australian mining company
▼ + stars: | 2022-10-11 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

GM said the investment will help support electric-vehicle eligibility for consumer incentives under new, clean energy U.S. tax credits. GM said the nickel laterite ore is expected to be processed using a new, proprietary process that helps reduce waste. Register now for FREE unlimited access to Reuters.com RegisterThe GM investment is to assist in the development of its proposed Townsville Energy Chemicals Hub (TECH) Project in Northern Australia. High-grade nickel laterite ore will be imported from nearby New Caledonia, GM said. Register now for FREE unlimited access to Reuters.com RegisterReporting by David Shepardson; editing by Jonathan Oatis and David GregorioOur Standards: The Thomson Reuters Trust Principles.

☆ Factbox: Automakers accelerate drive to secure battery raw materials
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +7 min

read more08-Dec-2021 - Belgium's Umicore (UMI.BR) will supply cathode materials for Volkswagen's European battery cell factories under a joint venture. MERCEDES BENZ (MBGn.DE):23-Aug-2022 - Mercedes-Benz strikes cooperation agreement with Canada to secure access to lithium, nickel and cobalt. read more04-Oct-2021 - BHP Group (BHP.AX) will supply nickel sulphate from Western Australia to Toyota and Panasonic's joint venture. read moreFORD (F.N)22-July-2022 - Ioneer Ltd signs binding offtake agreement with Ford to supply lithium from Rhyolite Ridge in Nevada. read more22-Sept-2021 - Ford partners with startup Redwood Materials to form a "closed loop" or circular supply chain for electric vehicle batteries, from raw materials to recycling.

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