68.86 0.00 (0.00%)
After hours: 5:09PM EDT
|Bid||68.72 x 1400|
|Ask||69.12 x 3100|
|Day's Range||68.53 - 70.42|
|52 Week Range||58.63 - 108.74|
|Beta (3Y Monthly)||1.23|
|PE Ratio (TTM)||13.44|
|Earnings Date||Nov 5, 2019 - Nov 11, 2019|
|Forward Dividend & Yield||1.47 (2.15%)|
|1y Target Est||88.55|
Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Albemarle (ALB) have what it takes? Let's find out.
Chile is making a renewed push for battery technology investment in return for access to its lithium deposits, piquing interest from China, Japan and Europe as global firms look to tie up supply of the metal vital for the shift to electric vehicles. The South American country, the world's No. 2 lithium producer, has held global road shows ahead of a second lithium-for-investment tender, according to officials and Chilean government documents seen by Reuters.
CHARLOTTE, N.C. , Sept. 17, 2019 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a leader in the global specialty chemicals industry, announced today that Glen Merfeld , Chief Technical Officer, Lithium, ...
The United States is losing the race to extract and refine minerals used to make electric vehicles and should do more to spur domestic production, a bipartisan group of senators said on Tuesday. The push comes as China has grown to dominate the market for lithium, rare earths, cobalt and other so-called strategic minerals used to make a plethora of consumer products, a dominance that politicians have said poses a strategic threat to the United States. "China is consolidating control of the entire supply chain for clean technologies," Senator Lisa Murkowski, the Alaskan Republican who is the chair of the Senate's Energy and Natural Resources Committee, said.
(Bloomberg) -- The world’s largest producer of lithium warned of a “shakeout” in the industry amid a rout in the market for the mineral essential in making rechargeable batteries for electric cars.Albemarle Corp. Chief Executive Officer Luke Kissam said the company and its biggest rivals Soc. Quimica y Minera de Chile SA, Tianqi Lithium Corp. and Ganfeng Lithium Co. are the only producers with the size, volumes and cost position to serve large customers. These producers that account for about half of the world’s lithium will continue to dominate the market in the future as the entire electric vehicle supply chain matures and consolidates, he said.“This industry is an infant, a baby that came home from the hospital, and it’s going to grow,” Kissam said in an interview at the company’s headquarters in Charlotte, North Carolina. “There will be dips and spurs and we’re going to have to adapt and evolve. There will be a lot of shakeout over the next decade.”Lithium prices have plunged by about a third from a record in May of last year as supply from new mines in Australia flooded the market at a time when demand growth is slowing. Electric-car sales in China declined in August for a second straight month, adding to signs of weakness after monthly worldwide sales fell in July for the first time on record.Albemarle has halted expansion plans worth a combined $1.5 billion and is focusing on being cash flow positive by 2021. The company will be in a strong position when prices start to recover by the end of 2020, Kissam said Wednesday in an interview at the producer’s headquarters in Charlotte, North Carolina.“It’s going to be tough for newcomers,” Kissam said. “Battery producers are going to be looking for companies that can supply big volumes at a consistent price, and that’s going to be coming from four or five companies.”Under PressurePrices for the mineral, especially for lithium carbonate, will stay under pressure during 2020 as the market grapples with a glut, Kissam said. Prices will start to rebound toward the end of next year when consumers begin to draw down inventories, he said.Demand for lithium will continue to rise at double-digit rates, a pace unseen by any other industrial metal, he said. In such a young, fast-changing market, demand might “blip” one year, but overall the trend will be positive, Kissam said. “I’m not worried about that.”Albemarle predicted that demand for lithium will soar to around 1 million tons by 2025. Consumption of the mineral totaled 300,000 metric tons last year, according to a BloombergNEF estimate. Its competitor, second-largest producer SQM, cut its forecast from 1 million to between 744,000 metric tons and 914,000 tons earlier this week as China eased subsidies for electric vehicles.When demand soars, “we’ll be ready to respond because our balance sheet is going to be so nice,” Kissam said. “We have the ability to expand, to buy conversion assets in China, we have plans on the drawing board right now that we could take off the shelf.”Potential Buy-OutJunior companies that start developing new mines will do so in the hope that one of the bigger producers will buy them out, he said. Albemarle, which owns mines in Chile’s Atacama salt flat and Western Australia, has all the resources it needs for the next decade, but is weighing whether to buy or build assets that will convert brine and hard rock into lithium products such as carbonate and hydroxide.Investor sentiment for the producers has been subdued. Shares of SQM and Albemarle are down about 30% in the past year, while Livent has plunged 56% since it listed in October. Things have brightened somewhat for Albemarle more recently, with the stock posting a seventh straight gain on Thursday, the longest rally since February.The company is hopeful that the shares will further mend as it delivers on its promise to generate positive cash flow by 2021.“Investors like predictability and consistency and we haven’t had that,” Kissam said. “We need to be cash positive by 2021, they need to see it, we need to deliver and ultimately we’ll be fine.”(Updates with Albemarle share price in 12th paragraph)To contact the reporter on this story: Laura Millan Lombrana in Santiago at firstname.lastname@example.orgTo contact the editors responsible for this story: Luzi Ann Javier at email@example.com, Joe RichterFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
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Are you ready for a new industrial revolution? According to RBC Capital, artificial intelligence (AI), autonomous transportation and cloud technology could completely transform the industrial marketplace within the next 5-10 years. As a result, the firm has just put together a report of some of the most promising industrial stocks taking advantage of these critical trends. These are the stocks that RBC believes will be leading the way come 2025.“Our call to action is this: with the pace of change accelerating, Industrials stakeholders must place increased focus beyond the next few quarters and into the years ahead” wrote the firm on September 5. With this in mind, let’s leave behind the current market turmoil and take a closer look at a few of the top industrial stock picks highlighted by RBC Capital’s latest 2025 report: 1\. General Motors Company (GM)In 2016, GM began preparing for the future of mobility by acquiring Cruise Automation, a self- driving vehicle startup. At the time, Cruise was developing hardware and software that would allow a vehicle to drive autonomously on the highway, and had been working on technology that would allow a vehicle to be fully autonomous. While Cruise is the company’s highest profile initiative, GM has looked to AI for other areas of their business as well. For instance, with IBM (IBM) they rolled out AI to their OnStar program, which gives them the capability of identifying information about the car and its surroundings. As an example, when fuel is low, the AI can route the vehicle to a nearby station and signal to the pump to activate and pay for the fuel.What’s more, RBC Capital believes the robo-taxi opportunity will grow exponentially through 2050. “GM is an automotive leader in the robo-taxi opportunity. This opportunity allows them to shift from selling units to miles. Selling miles could be a larger TAM [total addressable market] with higher profit, and reduced cyclicality. These factors could lead to a re-rating” cheers RBC Capital analyst Joseph Spak. In fact, this five-star analyst currently has a buy rating on GM with a $52 price target (37% upside potential). The Street also has a bullish Strong Buy consensus on GM right now: 2\. Albemarle Corp (ALB)If you are looking to play the electric vehicle trend but from a slightly different angle, then Albemarle is a great stock to consider. This chemicals giant is the 1 global producer of lithium which will be used heavily in electric vehicle (EV) batteries for at least the next decade. RBC Capital’s Arun Viswanathan singles out Albemarle as one of the companies best positioning and reinvesting to win in 2025. He has a buy rating on the stock with a price target of $83 (35% upside potential).Demand for lithium-ion batteries is growing at an exciting rate, says Viswanathan, driven by the global demand for electric vehicles, mobile devices and grid storage. “We believe lithium batteries will play a key role in advancing EVs, autonomous driving and reducing air pollution” he tells investors. And as the EV industry evolves, battery requirements will also need to evolve to address great safety needs and range specifications. Auto OEMs (original equipment manufacturers), suppliers and technology companies are going to need to collaborate in order to make autonomous vehicles a reality. These ambitious projects require the work of the collective minds and expertise to be completed says Viswanathan. And that’s where Albemarle comes in: “This is why we like companies such as Albemarle, which embraces the opportunity to build mutually beneficial relationships with business partners and local communities. As the next generation of autonomous driving and AI capabilities are developed, we would expect the chemical companies such as ALB and the coatings companies to have a higher degree of collaboration and exchange of ideas” the analyst writes. The stock has a Moderate Buy Street consensus, based on the last three-months of ratings. 3\. Xylem Inc (XYL)Smart water networks represent the biggest growth opportunity within the global water sector, says RBC Capital. Global water infrastructure is currently under strain from aging equipment, and there’s an urgent need for investment and improved management. The solution to this dilemma is known as smart water networks. Using connected devices, the Internet of Things and IT, municipalities can improve monitoring and diagnostics, optimize investments and ensure better infrastructure care. “No water company has advanced smart water networks and solutions more capably or aggressively than Xylem, in our view” comments RBC’s Deane Dray. This top-rated analyst recently reiterated his XYL buy rating with an $83 price target (10% upside potential).Indeed, Xylem has stated that nearly 50% of its revenues are now either smart or smart-enabled, thanks to its landmark acquisition of Sensus and disruptive Advanced Infrastructure Analytics (AIA) platform. Looking ahead management expects organic revenue growth for AIA to outpace the rest of its portfolio by at least 2x over the long-term, implying a double-digit pace of growth.For instance, its new specialized buoys in the water off of JFK and LGA airports are equipped with water test equipment to detect jet fuel spills and de- icing chemicals. Another example: A private utility in Singapore was experiencing leaks and breaks and was unable to determine the cause. Using Xylem’s high sample rate pressure sensors and analytics, the utility was able to discover and fix the problem, generating significant savings. Overall, the Street has a Moderate Buy consensus on XYL. 4\. Aptiv PLC (APTV)Next comes Aptiv- a global auto parts company based in Ireland. “We continue to believe Aptiv is a leader and key enabler of autonomous driving” enthuses RBC's Joseph Spak. The company snapped up self-driving specialist Ottomatika (a Carnegie Mellon spin-off and winner of the 2007 DARPA Urban Challenge) in 2015. In 2017, GM also splashed out on nuTonomy, a leading developer of autonomous driving software solutions- further strengthening its position in the global autonomous mobility market. While the autonomous mobility on-demand opportunity is still in its early days, Aptiv expects initial driverless tests to occur by the end of 2020, with increased scale as hardware becomes automotive grade in 2025. Management has indicated they believe Aptiv’s autonomous driving revenue will be $500mm by 2025. At scale, the company expects 70%-80% of its autonomous mobility revenue to come from recurring revenue streams.As a result, Spak concludes: “The company has positioned the portfolio to be a key supplier for the signal and power architecture needed in vehicles of the future, autonomous driving and connectivity. Aptiv is also adopting new business models and is one of the first companies to show real- world monetization of their autonomous vehicle investment.”In a July 31 report aptly titled ‘The Cream Rises to the Top’ the analyst reiterated his buy rating on Aptiv while ramping up the price target from $88 to $97 (15% upside potential). Analysts rate the stock Moderate Buy, according to the Street consensus. 5\. Deere & Company (DE)Recent UN estimates indicate one in nine people experienced chronic hunger in 2018 with the total global population continuing to grow. To help meet rising food requirements while coping with limited natural resources, the firm believes smart farming will become increasingly important. “We expect the trend toward “smart farming” -- including AI/machine learning -- to accelerate as farmers search for ways to maximize productivity/yield, improve crop quality, and reduce costs/improve machine uptime in the face of relatively low commodity prices and stressed natural resources (land/water)” writes the firm’s Seth Weber. This can include everything from using drones to spray crops, to generating crop insights from advanced data analysis.He continues: “We see Deere as well positioned for this trend.” Indeed, Weber currently has a buy rating on DE with a $175 price target (15% upside potential). In particular, the analyst expects that farming machinery, like cars, will become increasingly autonomous. This should reduce the need for farm workers, while improving productivity. So far GPS guidance and assisted steering have been widely available in tractors, but self-driving systems have remained elusive. As Weber notes, John Deere built its first autonomous navigation system in the 1990s with NASA, and much more recently unveiled an autonomous tractor at the CES 2019 conference.However, regulatory hurdles and gaining comfort with unmanned equipment are potential challenges- so watch this space. Overall the Street has a cautiously optimistic take on DE right now:Discover the Street’s favorite ‘Strong Buy’ stocks with TipRanks’ Stock Screener
[Editor's note: "10 Lithium Stocks to Buy Despite the Market's Irrationality" was previously published in July 2019. It has since been updated to include the most relevant information available.]No matter how innovative or utilitarian a new platform may be, all modern technologies require a catalyst to operate. For most devices, this requirement translates into a lithium-based power source. Nowadays, almost everything we use runs on the silver-white metal. Logically, the idea of buying lithium stocks is a frequently made suggestion.However, the markets sometimes deploy their own logic, which seemingly runs counter to the fundamentals. For instance, industry demand for lithium remains robust, and is likely to increase as electronics manufacturers pump out smart devices. Yet the benchmark exchange-traded fund Global X Lithium ETF (NYSEARCA:LIT) is down approximately 28% over the past year.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Best Tech Stocks to Buy Right Now Why the disconnect between lithium stocks and underlying industry demand? Mostly, experts in the field forecast an overabundance of supply due to mining companies ramping-up production. Additionally, last year Morgan Stanley analysts predicted a massive drop in the commodity's price over the next few years that could outpace even tremendous demand from electric-vehicle companies.Of course, the other major concern is a more recent development: The escalating U.S.-China trade war. I say escalating because while the two sides are talking, we're seeing no substantive evidence of a potential deal. Continuing rhetoric isn't conducive to the success of lithium stocks.Let's not forget that China has a massive stockpile of lithium. Furthermore, they regard the commodity as "white petroleum," and are actively seeking to dominate its supply chain. Although opinions vary on this dynamic, in my view, that's net bullish for lithium stocks due to the tech industry's ever-rising demand.With that in mind, here are my ten picks for lithium stocks to take advantage of the market's irrationality. Albemarle (ALB)Several of the lithium stocks that analysts commonly discuss are admittedly speculative affairs. As a result, the downturn in the lithium market has severely and disproportionately impacted the industry's direct competitors. But for a solid, renowned organization like Albemarle (NYSE:ALB), the selloff presents a viable contrarian opportunity.Source: fdecomite via Flickr (Modified)I'm not going to beat around the bush: ALB stock has taken a massive beating, even compared to the lithium industry's bloodbath. Over the past year, shares have lost 35% in the markets.That said, I'm encouraged with some positives in the company's financials. After absorbing a disappointing dip in revenues in 2016, Albemarle bounced back the following year. The growth continued in 2018 with revenues growing from $3.07 billion to $3.37 billion. ALB reported Q2 earnings per share that beat analysts' consensus estimate and revenue that came in slightly below the average estimate. But it raised its full-year EPS guidance.Despite geopolitical saber-rattling, the outlook for lithium remains strong. Experts forecast nearly a 9% lift in global demand through 2019. Thus, the present weakness in ALB stock is a great entry point. Sociedad Quimica y Minera (SQM)Due to its sheer dominance in the sector, no discussion about lithium stocks is complete without mentioning Sociedad Quimica y Minera (NYSE:SQM). SQM is based in Chile, which according to CNBC enjoys the world's largest lithium reserves. In fact, CNBC was quite emphatic about this point, noting that no other nation comes close to Chile's 7.5 million metric tons of the hotly demanded metal. Click to Enlarge Source: Shutterstock Unfortunately, as with many other lithium stocks, SQM suffers from a divergence between fundamental bullishness and technical trading. Over the past year, shares are down 42%.But what's truly compelling about SQM stock is the general stability of the underlying company's host nation. Historically, relations between the U.S. and Chile are favorable. While that might have changed over the past two-and-a-half years, the U.S. still represents a critical trading partner to Chile. * 7 Best Tech Stocks to Buy Right Now When you're dealing with lithium stocks, you're already in a volatile market. With SQM, you can at least take away some political variables. Tesla (TSLA)For some time, Tesla (NASDAQ:TSLA) was one of my favorite tech firms to discuss. Much of my enthusiasm had to do with CEO Elon Musk, a man who consistently thinks out of the box. Click to Enlarge Source: Shutterstock But for owners of TSLA stock, I'm sure many of them wish he would stay in the box occasionally. For all the positives that Tesla delivered to the technological and scientific communities, the CEO made multiple unforced errors.You can take a look at the chart for TSLA stock and see what those errors -- along with a general lack of focus -- have done. It's not pretty.In the spirit of full transparency, I've lost patience with Musk. I also have some questions about the effectiveness of Tesla vehicles.That said, if you want to speculate on lithium and battery stocks, you may want to consider TSLA. Recently, Musk suggested that Tesla may get into the lithium-mining business to support the company's larger-scale growth plans.Out of the crazy things Musk has said recently, this is one that finally makes sense. Although I'm not entirely convinced, commodity bulls may find that this is the perfect turnaround narrative. Panasonic (PCRFY)Speaking strictly from a product fanbase perspective, few companies generate as much buzz as the aforementioned Tesla. I've repeatedly called Elon Musk eccentric, but that same eccentricity inspires him to create aesthetically and technologically stunning cars. However, many folks might not appreciate just how important of a role Panasonic (OTCMKTS:PCRFY) plays in Tesla's success. Click to Enlarge Source: Shutterstock When most people hear the name Panasonic, they immediately think about consumer-electronic devices. While that's very much part of their business and legacy, the company is also shifting heavily toward lithium-based technologies.Panasonic and Tesla developed a strong if somewhat under-appreciated partnership. Notably, Panasonic manufactures Tesla vehicles' lithium-ion batteries at Tesla's vaunted Gigafactory. * 7 Best Tech Stocks to Buy Right Now More importantly, all signs point to the two companies continuing their relationship into other business ventures. Call it a corporate "bromance" that looks to be a viable opportunity for long-term gains. This idea gets more credibility considering that PCRFY has suffered the same fate as other lithium and battery stocks. PCRFY is down roughly 5% since the year-ago period.But if Tesla manages to get out of its funk, I can see PCRFY tagging along for the ride. Additionally, Panasonic can use its acumen with other key tech-based partnerships.Livent (LTHM)In the entertainment world, audiences look forward to spin-offs to provide further insights into favorite plotlines and characters. But within the investing segment, spin-offs are touch-and-go affairs. Click to Enlarge Source: FlickrJust take a look at Livent (NYSE:LTHM). Formerly the lithium arm of FMC (NYSE:FMC), LTHM stock began life as its own publicly traded entity in October 2018. To put it mildly, results are not favorable, with shares down a whopping 63% since the initial public offering.But much of that pain didn't start until May, when Livent disappointed for its first-quarter earnings report. Management cut its full-year revenue and profit forecasts due to weak demand, particularly for its higher-end lithium products. Even worse, it looks as if there will be a class-action lawsuit tied to the company's IPO.But lithium demand broadly is not going away. From smaller electronics to large batteries, everyone is diving into this sector. Therefore, LTHM stock attracts as a speculative contrarian opportunity. Power Metals (PWRMF)Contrary to what some may believe, not all lithium-mining processes are the same. Currently, the two most popular methods are lithium brines and lithium-cesium tantalum pegmatites or more commonly referred to as "hard rock." Click to Enlarge Source: Shutterstock Lithium brines represent the most popular method to which most lithium stocks are levered. However, the drawback is that the process is vulnerable to weather-related issues.Given that industry demand for the metal is constantly rising, unfavorable weather could severely impact production. To get around this issue, lithium miners are exploring hard rock, which is essentially weather-independent.One mining company that's putting the hard-rock concept to the test is Power Metals (OTCMKTS:PWRMF). With several projects spread around resource-rich Canada, Power Metals aims to be a significant provider of lithium. Plus, the company's geographically stable region is a big positive for PWRMF stock. * 7 Best Tech Stocks to Buy Right Now That's the good news. The not-so-great news is that PWRMF is a genuine, over-the-counter penny stock. Shares are down 68% over the past year, which tells you all you need to know. Still, if you're looking for a potentially explosive contrarian play among lithium and battery stocks, Power Metals is it. Just bet carefully and responsibly. Lithium Americas (LAC)Lithium Americas (NYSE:LAC) is a direct but completely speculative gamble on the growth potential of lithium stocks. While LAC earned itself a healthy dose of street cred with its joint venture with Sociedad Quimica y Minera, the company has no production assets. Click to Enlarge Source: Shutterstock That's not necessarily a deal-breaker as it has legitimate plans to attain those assets. Still, you're taking a risk that management will follow through.And while the markets have not been kind to lithium stocks, LAC has already climbed back into gain territory adding more than 18 percent year over year.I believe that analysts' consensus bearishness toward the lithium industry is overplayed. Yes, commodity prices fluctuate year-to-year for various reasons. However, the demand for lithium is broadly trending higher.It's not just electric vehicles and other physically imposing technologies that require lithium. Consider that the burgeoning e-cigarette or vaporizer market requires a healthy lithium supply chain to keep running.So long as the drive for innovation exists, so too will lithium demand. This adds some measure of confidence to the otherwise speculative LAC stock. Galaxy Resources (GALXF)Most direct plays in the lithium sector invariably involve mining stocks. Even in the best circumstances, commodity miners aren't known for their stability and reliability. That said, one of the better ways to help mitigate this risk is to seek companies with diversified portfolios. Galaxy Resources (OTCMKTS:GALXF) is one such example. Click to Enlarge Source: Shutterstock Galaxy's primary claim to fame is its Sal de Vida project, located in northwest Argentina. Situated in what industry experts term the "lithium triangle", the area produces more than 60% of global annual lithium supply.Beyond that, GALXF has projects in its native Australia, as well as Canada. Both regions are geopolitically stable, eliminating a major headache for investors. * 7 Best Tech Stocks to Buy Right Now Regarding risk factors, you should note that GALXF is now a legitimate penny stock with a share price under $1. During the past year, shares have plummeted over 85%. Some of that is due to the volatility of a relatively new market.Certainly, that's a distraction for Galaxy and other lithium stocks. However, do note that automakers like Toyota (NYSE:TM) could help pick up the slack. Toshiba (TOSBF)Similar to Panasonic, Toshiba (OTCMKTS:TOSBF) is primarily known for its electronic devices, particularly its laptop computers. While their primary businesses are unlikely to change, Toshiba is shifting resources heavily toward lithium technologies. It has already achieved substantial success with high-power, quick-recharging batteries, with more innovations in the pipeline. Click to Enlarge Source: Shutterstock And while TOSBF is a legitimate play on lithium-based battery stocks, its multi-varied product portfolio affords it volatility protection. Shares are up roughly 8% year-to-date, despite taking a severe tumble beginning in May.The other advantage for Toshiba is that the company has suffered from prior missteps. Having taken the ugliness out of the way, the company is on a recovery path.As such, TOSBF offers meaningful exposure to lithium while effectively acting as a hedge. Pilbara (PILBF)Taking a cue from other lithium stocks, Pilbara (OTCMKTS:PILBF) has absorbed a beating. On a YTD basis, PILBF stock is down 33%. Over the trailing 52-week period, the Australian lithium-tantalum miner has dropped a staggering 59%. Click to Enlarge Source: FlickrOf course, this specific mining segment is in a tough spot. While demand is broadly rising, economic tensions between the U.S. and China cloud matters. That conflict has hurt automotive forecasts for EVs, which has deflated sentiment for lithium stocks.Still, despite the ugliness around PILBF stock, I like its potential as a high-risk, high-reward opportunity. Pilbara gets its name from Australia's resource-rich Pilbara region.And the company's Pilgangoora Project sits atop one of the largest lithium-ore deposits in the world. * 7 Best Tech Stocks to Buy Right Now A major plus for PILBF is that its key mining project is near established infrastructure. That means it can get its products out to port and feed global demand when it returns.It's a long shot, but PILBF stock features an intriguing narrative, especially at these deflated prices.As of this writing, Josh Enomoto was long TOSBF. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Companies Apple Should Consider Buying * 7 Beaten-Up Housing Stocks Due for a Bounce Back * Take Buffett's Advice: 5 Vanguard Funds to Buy The post 10 Lithium Stocks to Buy Despite the Market's Irrationality appeared first on InvestorPlace.
Let's see if Albemarle Corporation (ALB) stock is a good choice for value-oriented investors right now, or if investors subscribing to this methodology should look elsewhere for top picks.
Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Albemarle (ALB) have what it takes? Let's find out.
CHARLOTTE, N.C. , Aug. 29, 2019 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a leader in the global specialty chemicals industry, announced today that Scott Tozier , Albemarle Executive Vice President ...
Stocks were back and forth, in the red and in the black, for the better part of Thursday's action. When push came to shove as the closing bell approached though, neither side of the table was doing much shoving. The S&P 500 closed a mere 0.05% lower yesterday.Source: Shutterstock It wasn't because some names didn't do their part. Boeing (NYSE:BA) rallied more than 4% after announcing it had won a respectable contract from the Department of Defense to upgrade wings on the more than a hundred A-10 attack aircraft. But, investors may have been further encouraged by word that the aircraft maker was planning on ramping up output of the beleaguered 737 MAX. That news suggests customers believe the passenger jet can be made safe.There were just too many names like Splunk (NASDAQ:SPLK) holding the market down. Shares of the software company fell nearly 8% despite a solid quarterly report, as Splunk also announced an acquisition investors aren't entirely convinced is a great idea for the $1 billion it's paying for the deal.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Stocks to Own Through a Global Recession Neither are great prospects headed into Friday's trading, however. Rather, stock charts of Nvidia (NASDAQ:NVDA), Albemarle (NYSE:ALB) and HP (NYSE:HPQ) have earned closer looks. Here are those looks. HP (HPQ)HP shares have been all over the map since late last year, and weren't exactly a picture of stability for the better part of the past three years. The selloff since October, however, has not only been bearish, but well framed by clear support and resistance levels.The bad news is, that trading range is steering HPQ stock lower, and there's more downside to go before the floor is bumped into again. Perhaps worse, the bearish momentum is starting to build in a way that portends lower lows are imminent. * Click to EnlargeAlthough choppy, HP has framed a bearish channel, marked with yellow dashed lines on both stock charts. HPQ stock is moving towards that floor, but remains nearly two points above it right now. * It's not yet consistent, but the volume behind several of the most recent selloffs has been above average. * With no other framework in sight that could serve as a landing spot now; the next most likely technical floor is the Fibonacci retracement line at $15.85. Nvidia (NVDA)Nvidia was one of the hardest-hit names last year, sent lower in step with the broad market's weakness, which was exacerbated by a meltdown of the crypto-mining industry.NVDA stock has been working on a recovery since late last year though. It has not been able to form one just yet, but it continues to try. The end result is a well-made set of support and resistance lines. Better still, Nvidia stock is close to punching through the upper boundary. * 7 Internet of Things Stocks to Buy Now * Click to EnlargeThe support and resistance lines in question are marked as blue line on both stock charts. The upper boundary is being tested again this week. * Although not yet above straight-line support, this week NVDA stock has pushed its way back above the gray 100-day moving average line and the white 200-day line. * It has not yet firmed up, but there's above-average bullish volume materializing here and it has been enough to let the weekly chart's Chaikin line move back above the zero level. Albemarle (ALB)Finally, Albemarle has been in something of a nosedive since early last year. Although it has seen the occasional rebound effort, each one of them has been met by a move to lower lows.There has been a method to the madness, however. Each lower low and each lower high has contributed to the establishment of a well-defined, falling trading range. The current trajectory is clearly downward, but that doesn't necessarily mean ALB has to stay on the path. It does, however, suggest there's room for a little more downside before traders have to make a decision. * Click to EnlargeIt's plotted on both stock charts, with dashed blue lines. Either way, it's clear Albemarle shares are being squeezed into the tip of a narrowing wedge pattern that will force a decision. * Although the descending wedge is currently bearish, and the gray 100-day moving average line is now resistance, the whole move could fuel an explosive move higher if the upper boundary can be snapped. * And although the converging support and resistance could be building up a major breakout move, for the time being, ALB stock looks like it's aiming to test the lower boundary around $60, marked with a yellow arrow.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about him at his website jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Retail Stocks to Buy on the Dip * 7 Marijuana Stocks With Critical Levels to Watch * 7 Internet of Things Stocks to Buy Now The post 3 Big Stock Charts for Friday: HP, Nvidia and Albemarle appeared first on InvestorPlace.
Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Albemarle (ALB) have what it takes? Let's find out.