Albemarle Corp
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Materials : Chemicals | Mid Cap Growth
Company profile

Albemarle Corporation is a developer, manufacturer and marketer of specialty chemicals, which serves its customers across a diverse range of end markets, including energy storage, petroleum refining, consumer electronics, construction, automotive, lubricants, pharmaceuticals and crop protection. It operates through three segments. Lithium segment develops and manufactures a range of basic lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and value-added lithium specialties and reagents, including butyllithium and lithium aluminum hydride. Bromine segment’s business includes products used in fire safety solutions and other specialty chemicals applications. Its fire safety technology enables the use of plastics by enhancing the flame-resistant properties of these materials. Catalysts segment offers three product lines, which includes Clean Fuels Technologies, fluidized catalytic cracking catalysts and additives, and performance catalyst solutions.


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Charles Schwab moves to reassure investors it has plenty of liquidity and business is performing 'exceptionally well'

8:59 am ET March 13, 2023 (MarketWatch)

Charles Schwab Corp. (SCHW) moved Monday to reassure investors that it has plenty of liquidity and does not need to sell any of its held-to-maturity securities over unrealized losses. Chief Financial Officer Peter Crawford said the business is performing "exceptionally well" and that it expects first-quarter revenue to grow 10% from a year ago. The company has an estimated $100 billion of cash flow and upwards of $8 billion in potential retail CD issuances a month. The company's approach to managing its assets is different to traditional banks, he said. "As a reminder, our banks' loan-to-deposit ratio is approximately 10% and nearly all the loans are over-collateralized by first-lien mortgages or securities. The remainder of our assets are invested in high-quality, liquid securities in either our available-for-sale (AFS) portfolio, working capital at the parent or broker-dealer subsidiaries, or in our HTM portfolio." Focusing attention on HTM's unrealized losses is flawed, as the company has no need to sell assets before they mature. "Second, by looking at unrealized losses among HTM securities, but not doing the same for traditional banks' loan portfolios, the analysis penalizes firms like Schwab that in fact have a higher quality, more liquid, and more transparent balance sheet," he added. The statement came after the stock was swept up in the carnage in the banking sector late last week amid the collapse of Silicon Valley Bank. The stock was down another 9% premarket Monday.

-Ciara Linnane


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March 13, 2023 08:59 ET (12:59 GMT)

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