Albemarle Corp
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Materials : Chemicals | Mid Cap Blend
Company profile

Albemarle Corporation is a global developer, manufacturer and marketer of highly-engineered specialty chemicals. The Company operates through three segments: Lithium and Advanced Materials, Bromine Specialties and Refining Solutions. Lithium and Advanced Materials segment consist of two product categories: Lithium and Performance Catalyst Solutions. The bromine and bromine-based business includes products used in fire safety solutions and other specialty chemicals applications. The Company serves various end markets, including petroleum refining, consumer electronics, energy storage, construction, automotive, lubricants, pharmaceuticals, crop protection, food safety and custom chemistry services. As of December 31, 2016, the Company and its joint ventures operated 31 production and research and development (R&D) facilities, as well as a number of administrative and sales offices, around the world.

Closing Price
$159.48
Day's Change
-3.24 (-1.99%)
Bid
--
Ask
--
B/A Size
--
Day's High
165.14
Day's Low
159.19
Volume
(Average)
Volume:
1,126,951

10-day average volume:
1,126,362
1,126,951

Nvidia stock rallies toward record after revenue outlook raised

3:07 pm ET April 12, 2021 (MarketWatch)
Print

By Wallace Witkowski

Nvidia shares near all-time closing high after revealing quarterly sales are tracking ahead of forecast, revealing new product

Nvidia Corp.'s stock rallied toward record highs Monday after the chip maker's annual conference kicked off with a rosy revenue outlook and product announcements.

Nvidia's (NVDA) stock surged more than 6%, touching an intraday high of $613.16, putting it within a hair of its all-time closing high of $613.21.

Nvidia shares gained after Chief Executive Jensen Huang announced at its annual GTC developers conference Monday morning that the chip maker was launching its first data-center central processing unit (https://www.marketwatch.com/story/nvidia-steps-up-competition-with-intel-and-amd-with-first-data-center-cpu-based-on-arm-11618246263), or CPU -- as opposed to its core graphics processing unit, or GPU, product -- based on Arm Holdings PLC technology, upping its competition against rivals Intel Corp. (INTC) and Advanced Micro Devices Inc. (AMD)

Don't miss: Nvidia steps up competition with Intel and AMD with first data-center CPU, based on Arm (https://www.marketwatch.com/story/nvidia-steps-up-competition-with-intel-and-amd-with-first-data-center-cpu-based-on-arm-11618246263)

Gains accelerated later in the day, after the company revealed that fiscal first quarter revenue is tracking above its $5.3 billion forecast. In late February (https://www.marketwatch.com/story/nvidia-quarterly-sales-top-5-billion-for-first-time-11614202574), Nvidia had forecast revenue between $5.19 billion and $5.41 billion. Analysts surveyed by FactSet expect $5.32 billion. Nvidia Chief Financial Officer Colette Kress said that revenue was "tracking above the $5.30 billion outlook provided during our fiscal year-end earnings call," but did not provide a specific new target.

"Within Data Center we have good visibility, and we expect another strong year. Industries are increasingly using AI to improve their products and services," Kress said in a statement. "We expect this will lead to increased consumption of our platform through cloud service providers, resulting in more purchases as we go through the year. "

Nvidia also said it expects first quarter revenue of $150 million for its cryptocurrency mining chip (https://www.marketwatch.com/story/nvidia-releasing-dedicated-crypto-mining-product-amid-shortage-of-gaming-cards-11613678848)s, up from a previously expected $50 million.

Most of the chip sector was trading lower Monday, as the PHLX Semiconductor Index down 1.3% as the S&P 500 index was down 0.1%. Over the past 12 months, Nvidia stock is up 131%, while the SOX index is up 103% and the S&P 500 is up 48%.

-Wallace Witkowski; 415-439-6400; AskNewswires@dowjones.com

	

(END) Dow Jones Newswires

April 12, 2021 15:07 ET (19:07 GMT)

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