U.S. equity markets concluded a volatile session on Tuesday, February 17th, 2026, with major indexes managing to edge into positive territory despite significant intraday swings. The day’s performance was characterized by a "tug-of-war" between optimism over resilient financial sectors and growing anxieties regarding the long-term sustainability of the artificial intelligence (AI) boom. While the broader market showed resilience, underlying sectors experienced sharp divergences as investors digested fresh i ...

Core Viewpoint - Dividend stocks are preferred for stability rather than high returns, often lagging behind the S&P 500, but some can outperform the market [1][2] Group 1: Dividend Aristocrats - Dividend Aristocrats are S&P 500 companies that have increased dividends for at least 25 consecutive years, providing reliable income while potentially outperforming the market [3] - A recent analysis focused on identifying Dividend Aristocrats that have exceeded the S&P 500's 52-week return of 13.59% [3] Group 2: Stock Selection Criteria - The stock selection was based on filters including 52-week performance difference from the market, current analyst ratings between 3.5 to 5, and a minimum of 12 analysts for stronger consensus [5] - A total of 15 stocks were identified, with a focus on the three that showed the highest 52-week percent change [4] Group 3: Albemarle Corp (ALB) - Albemarle Corp is the largest lithium producer globally, essential for electric vehicle batteries, and utilizes advanced technologies for competitive advantage [7] - The company reported a 4% year-over-year decline in sales to $1.3 billion, but net loss improved by 85% to nearly $161 million [7] - Albemarle offers a forward annual dividend of $1.62, yielding approximately 0.9%, while its stock price surged by 108.66% over the past 52 weeks, significantly outperforming the S&P 500 [8] - The stock is rated a "Moderate Buy" by 26 analysts, with a potential upside of 12% towards a target price of $210 [8]

Core Viewpoint - LibertyStream Infrastructure Partners Inc. is planning to re-domicile to Texas and establish its corporate head office in Dallas to align with its operational presence and support a future U.S. exchange listing [1][4][5]. Group 1: Re-Domiciliation and Corporate Strategy - The company has scheduled a Special Meeting of Shareholders for March 31, 2026, to consider the proposed re-domiciliation [1][7]. - The re-domiciliation aims to position the company closer to its operational footprint in West Texas and facilitate the sale of American-produced lithium to U.S. customers [5][6]. - Senior executives relocated to Dallas in 2025 to enhance operational efficiency and align with the company's commercialization strategy [5][6]. Group 2: Operational Progress and Future Plans - LibertyStream has been operating in the Permian Basin since mid-2024 and has made significant advancements in its lithium extraction business [3][4]. - The company has scaled its direct lithium extraction operations to process up to 10,000 barrels of oilfield brine per day and is refining lithium chloride into lithium carbonate [4][8]. - The anticipated commencement of commercial operations is expected in late 2026, with plans for a U.S. exchange listing targeted for late 2026 or early 2027 [2][6].

Core Insights - LibertyStream Infrastructure Partners Inc. has achieved consistent production of lithium carbonate from its automated continuous-flow refining unit in the Permian Basin, Texas, with validation from independent third-party laboratories [1][6][8] Production and Technology - The company has successfully advanced its proprietary Generation 5 direct lithium extraction (DLE) unit, capable of processing up to 10,000 barrels of oilfield brine per day into lithium chloride eluate [5][10] - Over the past 17 months, LibertyStream has processed more than 350,000 barrels of brine and completed over 2,500 real-time validation tests, demonstrating the reliability of its technology [5][6] Milestones and Objectives - The company has completed two of its three near-term objectives: independent validation of lithium carbonate and consistent production meeting target specifications [9][10] - The third objective, customer qualification supported by certificates of analysis (COAs), is currently underway, with plans to begin delivering bulk samples to prospective buyers following customer validation [7][10] Market Strategy - LibertyStream aims to initiate offtake discussions with strategic partners upon successful customer qualification, targeting commercial volumes of lithium carbonate production to begin in 2027 [10][12] - In the interim, the company plans to sell all lithium carbonate produced into the spot market in 2026 from its Texas field site [10][12] Industry Context - Lithium is designated as a critical mineral in the United States, and establishing domestic supply chains is a strategic priority for North American industry [4]

Core Insights - AMG Lithium GmbH is in the qualification phase for its lithium hydroxide refinery in Bitterfeld, Germany, which will be the first industrial-scale battery-grade lithium hydroxide production facility in Europe, expected to operate at design capacity by mid-2026 [1][2] Company Developments - AMG plans to process both technical-grade lithium salts and recycled lithium at the refinery, contributing to a sustainable circular economy, supported by €36 million in funding from the German Federal Ministry for Economic Affairs and Energy [2][3] - The annual capacity of one module of the lithium refinery is 20,000 tons, sufficient to supply batteries for approximately 500,000 electric vehicles [3] Industry Context - The establishment of a backward integrated lithium value chain aligns with the European Critical Raw Materials Act, enhancing independence for raw materials and critical materials in Germany and Europe [3] - AMG's mission focuses on providing critical materials and related process technologies to support a less carbon-intensive world, with a strong emphasis on energy storage materials like lithium [4] Operational Overview - AMG operates globally with approximately 3,600 employees and has production facilities in multiple countries, including Germany, the UK, and the US, among others [6] - The company's segments include lithium, vanadium, and technologies, with a focus on reducing CO2 footprints and advancing recycling efforts [5]

Core Insights - Vulcan Energy Resources has secured a financing package of €2.2 billion ($2.57 billion) to fully fund phase one of the Lionheart lithium and renewable energy project in Germany [1] - The project aims to establish Vulcan as a significant player in Europe's battery and electric vehicle supply chain while promoting low-cost lithium and renewable energy [2] Project Overview - Phase one of the Lionheart project will develop an integrated facility with an annual production capacity of 24,000 tonnes of lithium hydroxide monohydrate (LHM), sufficient for approximately 500,000 EV batteries each year [3] - The project is designed to generate 275 gigawatt-hours (GWh) of renewable power and 560 GWh of heat annually, with an operational lifespan of around 30 years [4] Development Details - Key facilities will include geothermal-lithium brine production wells, a renewable power and heat plant, and a lithium extraction plant utilizing Vulcan's proprietary VULSORB technology [5] - Most major contracts for phase one have been signed, with full offtake agreements secured for the first ten years, targeting Europe-focused buyers [6] Financial Aspects - The total financing package of approximately €2.2 billion (A$3.9 billion) will cover development costs through construction, commissioning, and start-up phases [7] - HOCHTIEF has provided substantial financial backing, investing a total of €169 million [7]

Market Overview - Major indices are set to close below their 50-day moving averages for the first time since April, indicating potential market volatility [2][6] - The Dow Jones Industrial Average is down more than 500 points, approximately 1.2%, while the S&P 500 is down about 61 points or 0.9% [7][8] - The Nasdaq composite and Nasdaq 100 also experienced similar declines, with the Russell 2000 down 2% [7] Sector Performance - Communication services sector saw gains, primarily driven by Alphabet, which was up as much as 6.3% intraday after Berkshire Hathaway disclosed a stake worth approximately $4.9 billion [10][11] - Financials, energies, and materials sectors were among the worst performers, contributing to overall selling pressure [9] Notable Stock Movements - Lithium producers, including SQM and Albemarle, experienced stock price increases of 9% and 2.2% respectively, following a bullish forecast from a major Chinese supplier [12] - Dell was the worst performer in the S&P 500, down 8.4%, due to a double downgrade from Morgan Stanley, citing risks from a memory supercycle [16][17] - Blue Owl Capital shares fell 5.6% amid concerns regarding its financing of data centers [18] Upcoming Events - Significant government data releases are expected this week, including video earnings, Fed minutes, and a jobs report, which could influence market direction [3][6]

Core Viewpoint - Albemarle Corp. (NYSE:ALB) has shown strong performance in the stock market, driven by a significant price target upgrade from UBS and positive quarterly results, despite some challenges in net sales and pricing [1][2][3]. Group 1: Stock Performance - Albemarle's stock price increased for the fifth consecutive day, reaching a peak of $119.28 during intra-day trading before closing at $114.57, reflecting a 3.85 percent gain [1]. - UBS raised its price target for Albemarle by 25.9 percent, from $85 to $107, although this new target is still 6.6 percent lower than the latest closing price [2]. Group 2: Financial Performance - In the third quarter, Albemarle narrowed its net loss by 85 percent, reporting a loss of $160.7 million compared to $1.069 billion in the same period last year [2]. - Adjusted EBITDA increased by 6.7 percent to $225.6 million, up from $211.5 million year-over-year [3]. - Net sales decreased by 3.5 percent to $1.3 billion from $1.35 billion year-over-year, primarily due to a 16 percent decline in pricing for energy storage [3]. Group 3: Management Commentary - The CEO of Albemarle emphasized the company's strong third-quarter results and the effectiveness of their cost and productivity improvements, as well as reduced capital expenditures [4]. - The management expressed confidence in the full-year outlook and the ability to navigate dynamic market conditions [4].

Core Viewpoint - Stardust Power Inc. reported strong operational progress and financial improvements in Q3 2025, with significant advancements towards establishing a major U.S. source of battery-grade lithium [2][5]. Operational Highlights - The completion of FEL-3 engineering for the Muskogee lithium refinery, with a Phase 1 capacity of 25,000 metric tons per annum (mtpa), expandable to 50,000 mtpa [5]. - Estimated capital expenditure (CapEx) for the project is approximately $500 million, which is about $200 million lower than previous estimates [5]. - A 24-month construction timeline is outlined with a 90% probability of cost achievement [5]. - Two supply agreements were executed post-quarter end, securing 13,500 metric tons of lithium carbonate equivalent (LCE) for the refinery [5]. Financial Highlights - The company reported a net loss of $4.5 million for Q3 2025, an improvement from a net loss of $10.1 million in Q3 2024 [6]. - Net loss per share improved to $(0.53) from $(2.23) year-over-year [6]. - Cash and cash equivalents stood at approximately $1.6 million as of September 30, 2025 [6]. - Net cash used in operating activities decreased to $6.5 million for the nine months ended September 30, 2025, compared to $8.5 million in the prior year [6]. - Net cash used in investing activities was $3.0 million for the nine months ended September 30, 2025, up from $1.3 million in the prior year [6]. - Net cash provided by financing activities was $10.2 million for the nine months ended September 30, 2025, compared to $10.1 million in the prior year [6]. Company Overview - Stardust Power is focused on developing battery-grade lithium carbonate to enhance America's energy security through resilient supply chains [7]. - The company is building a strategically located lithium refinery in Muskogee, Oklahoma, with a production capacity of up to 50,000 metric tons of battery-grade lithium carbonate annually [7].

Financial Data and Key Metrics Changes - The company reported net sales of $1.3 billion for Q3 2025, with adjusted EBITDA reaching $226 million, a 7% increase year-over-year, driven by cost and efficiency improvements despite lower lithium pricing [5][8] - Cash generated from operations was $356 million, marking a 57% year-over-year increase [5] - The company anticipates full-year 2025 results to be toward the upper end of the previously published $9 per kilogram lithium pricing scenario [5][10] Business Line Data and Key Metrics Changes - Energy storage sales volume growth is expected to be up 10% or more year-over-year, supported by record integrated production and higher spodumene sales [10] - The specialties segment delivered a 35% increase in adjusted EBITDA, largely due to cost improvements [9] - Ketjen is expected to see stronger Q4 performance due to higher CFT and FCC volumes [12] Market Data and Key Metrics Changes - Global EV sales increased by 30% year-to-date, with significant growth in China and Europe [6][15] - Grid storage demand grew by 105% year-to-date, with China leading the market [15][16] - North America is the fastest-growing region for stationary storage, up almost 150% year-to-date [16] Company Strategy and Development Direction - The company is focusing on long-term value creation and financial flexibility through recent portfolio actions, including the sale of a controlling stake in Ketjen's refining catalyst business [6][7] - The strategy includes enhancing shareholder value and maintaining a strong competitive position while shifting focus to core businesses like energy storage and specialties [7][19] - The company aims to achieve full-year cost and productivity improvements of around $450 million, exceeding initial targets [6][17] Management's Comments on Operating Environment and Future Outlook - Management noted that global lithium consumption growth is up over 30% year-to-date, driven by robust demand from EVs and grid storage, while supply growth has slowed [15] - The company is optimistic about the lithium market tightening, with expectations for lithium demand to increase significantly by 2030 [15][84] - Management emphasized the importance of maintaining a cost-out mentality to navigate market volatility and capture growth opportunities [58][60] Other Important Information - The company closed the quarter with $1.9 billion in cash and plans to repay Eurobond debt maturing soon [14] - The anticipated cash proceeds from recent transactions related to Ketjen are approximately $660 million, enhancing financial flexibility [7][14] Q&A Session Summary Question: Dynamics at Talison and spodumene pricing - Management indicated that they do not predict lithium prices but are optimistic about the market tightening, with margins potentially shifting between spodumene and lithium salts depending on pricing dynamics [22][23] Question: Current lithium pricing in China - Management noted that current pricing in China is closer to $10 per kilogram, with a full-year average expected around $9 to $9.50 [27][28] Question: Full-year Adjusted EBITDA margin potential - The potential for a 30% or greater Adjusted EBITDA margin at $15 per kilogram lithium pricing refers to the overall company, not just the energy storage segment [31] Question: EV demand versus energy storage - Management believes energy storage currently represents about a quarter of the market, with expectations for it to grow at a faster rate than EVs in the long term [35][36] Question: Impact of curtailments in Chinese lepidolite production - Management stated that about a third of lepidolite production has been impacted, but the overall effect on supply is minor [39][40] Question: Outlook for lithium demand by 2030 - Management indicated that while the demand forecast remains within the same range, it has likely moved up slightly due to stronger-than-expected demand [41][43] Question: Energy storage market growth - Management confirmed strong demand in the energy storage market, particularly in China, with full utilization of battery cell lines to meet demand [92][94]