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[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Hi. Good afternoon. It seems clear that variable rent is growing in the portfolio. Like I'm just -- could you help frame how much this is shifting? Like for the leases you're negotiating today, what is the split contractual rent and the expected variable rent component? And how is that different from before the pandemic?[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yeah. I think Norm will take that, and he's going to say probably very similar. Right, Norm?[/INST] Prediction (one of UP, DOWN, SAME): DOWN

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yes. It's -- yes, I would say, right around there is about right. We actually -- our guidance and our forecast, which, just to be clear, so our forecast is -- our current forecast is the midpoint of our guidance. And if you look at it and break it down by quarter, we're actually showing that Q4 will be a bit stronger than Q3. But Q3 is kind of about in that $50 million range.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Hi. Thank you. Are there any -- Dave, are there any notable tailwinds or headwinds just as we think about modeling the second quarter? I know you don't give full guidance, but maybe just so we can avoid some surprises. I know you've said many times the progression of fiscal '22 pricing and savings will be back half loaded. So hopefully, people have gotten that message. But is there anything specific we should be reminded of, additional trade accrual laps, anything like that? [/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Well, in North America --[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> All our factories are running pretty full. So it's a bit difficult to move the volume around for us. Yes, there was a bit of a disruption in the Southeast Asia size of ours, but I think the situation is under control now. And I think they're back to normal. I think the overall impact is quite small for us.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Thanks, Mike.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Thanks for taking the question. Two for me. Maybe first, Kyle, back to the first question on 5% to 7% sequential growth and does that -- is that now off the lower second quarter? So I just want to make sure, versus, you know, the prior guidance of 5% to 7% sequentially and now off of the lower base in the second quarter, it's essentially taking 2021 revenues down by something like, what, $10 million, $15 million versus prior expectations. So just want to make sure that's the right way to think about it in the resulting second half growth.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yeah. Well, certainly, we had a good bookings quarter that helps. But also, we're seeing our contract life get out a little bit farther than we've typically seen, which is also good. So we're getting signing under current contracts. And as you know, that plays a part of this as well. So I think it's a combination of a strong quarter, but also we're seeing longer contracts on renewals.[/INST] Prediction (one of UP, DOWN, SAME): UP

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> I'd say, it was probably more a function of allocations internally around portfolio production. But I'd say, it should be pretty stable with the last couple of quarters looking out over the balance sheet. There is nothing within the servicing or administrative areas of our Mortgage segment that we expect to see significant increase or decrease. Majority of the Next Gen 2.0 saves are related to the Core Banking segment.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Thanks.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yeah. I should -- so if I ever call out materials as a massive issue. I feel like, maybe I should shoot myself. Maybe that's a bit extreme. But when you're in the 90%, 95% -- let's call it, 95% pass-through situation, then in the course of the year, there may be a quarter where in terms of a lag as if metals move massively. But in the normal course of, let's say metals corridors and are back-to-back agreements with our customer base, including wheels, so it doesn't mean any matter whether it's an aerospace product or a commercial aluminum wheel. But whether its, cobalt or whether it's nickel or vanadium or aluminum, those are pretty much comments, Seth.[/INST] Prediction (one of UP, DOWN, SAME): UP

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> So -- just probably take your -- part of your question for next year. Obviously, we read some industry reports out there on the forecasts and where the volumes are at. The biggest headwind there is just component supply. But if we're going from that is just what we're hearing from our customers and what we can secure in parts in terms of supporting that as well.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Thank you.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> So certainly, when we migrate customers on a like-for-like basis, so they're taking the same number of seats, the same level of functionality and data that they're integrating. that's a non-event in terms of what they pay us. It's a flat renewal to a large extent or we would target an inflation-like renewal, which is what we get normally. What we do see is that customers do tend to take on additional functionality. They tend to roll it out to more of their users and they tend to take on additional data as well. And that's really just a testament to the value proposition of the new platform. So certainly, as we're including additional things like chat or conversation intelligence, in that discussion that is another opportunity for us to continue to expand with our customers and continue to deliver them more value.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yeah. Manav, I think I'll let Ray and Dave jump in there, but we are obviously cognizant of the value of lowering the carbon intensity of the operations, of the product, etc. The wind situation in Dickinson, Ray, if you want to give a little more color there. Or, Dave, if you want to give total color on lowering carbon.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yeah, Jamie, it's Peter Carter. The terms are identical to PSP 1.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> I mean, it's a joint effort. I think it's a mutual benefit to everybody when everybody survives.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yes. So Chris, this is Raj. Just give maybe a couple of overarching statements and then let Anand address some of that in more granularity. Thanks for your questions. I think in general, the in-person visits and the virtual visit within the PTC, there's not much of a difference in terms of the call itself and educating our HCPs within PTCs. I think where the in-person does become important is facilitating the paperwork that sometimes is necessary in a rare disease area like ours, where we'll have to get the benefits investigation done, get the Quick Start program authorized with the patient. And so it requires a little bit of coordination within those offices. And give it COVID-19, we faced some challenges early on with the office dynamics breaking down, where that facilitation with nurses being remote and physicians being remote has been quite difficult. I think on the refill rates, it's a little bit too early to comment on that. But all I can say, Chris, is there's nothing that has been surprising in terms of a fallout. So I think the comment that we made in our prepared remarks, which is that we're pleased with the reception that we're getting with patients and physicians continues to hold. And I think the last one in terms of 2021 coverage, we are certainly making good progress with payers, and we hope to continue that coverage and that progress in 2021. And we believe that by in itself will also facilitate the easing of some of that paperwork that we had to do early on when there were no formal policies put in place. Anand, did you want to add anything to what I just responded?[/INST] Prediction (one of UP, DOWN, SAME): DOWN

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> We haven't broken it down between commercial vehicle and light vehicle. I think it's appropriate to think of us just in totality as being normally in that high teens from a conversion standpoint. Obviously, our guide this year, both what we delivered in Q1 and then what we're guiding to for the full year suggests that we're in the low 20 percentile from a conversion year-over-year perspective, which will contemplate anything in both the CV and the light vehicle space. And obviously, we're getting a tailwind from things like the cost synergies in excess of purchase price amortization, getting a tailwind from the execution of our restructuring initiatives, both on the legacy BorgWarner side and Project Pioneer at Delphi. And so it's leading to conversion that this year is in the low 20s right now.[/INST] Prediction (one of UP, DOWN, SAME): UP

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> So we're -- our wages and wage increases are generally consistent with the market. I think Nick's last report had 4.5% wage increases year-over-year and we're seeing similar increases with our operators 5% or so. Though for frontline workers we're -- in some markets we're seeing double-digit increases. These are workers. The operators are competing for workers with Amazon and Walmart. It's all stuff we've talked about before. So not only is there wage pressure, but there's also a scarcity of employees and so that drives wages up as well.[/INST] Prediction (one of UP, DOWN, SAME): DOWN

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Hey, Rod. It's Brittany. Thank you for the question. So, most of the inventory you're seeing on our balance sheet right now is actually finished goods inventory, and not as because we are supporting significantly higher demand this Q2 than we are -- have supported in other Q2s. So, part of it is just to support the higher sales volume. And then, I would say another part is just timing around when we have in transit inventory in a sort of quarter-to-quarter. So that's really the dynamic you're seeing. Obviously, we're doing everything we can on components as is everyone else right now. But we're pretty much turning that -- those components into finished goods as fast as we can, so we can go meet the backorders and the demand we're seeing.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yeah. So this really takes advantage of all the learnings that we had from our subretinal program. So there, you'll recall, Lisa, we had the benefit of a full dose ranging where we started super low with a dose where we didn't see anything. And then saw progressively more clear signal as we went up with a plateau from our perspective once we got to level three onward. This is a new route of administration. However, I think it is important to note that it still achieves the goal of getting infusate very close to the target tissue of the RPE and the photoreceptors, particularly compared to other routes of administration like [Indecipherable]. Since we had very good safety and tolerability in the full range of doses with subretinal, we chose to go from a position of [Indecipherable] and start with the dose level five that we had from subretinal. And we were pleased that our preclinical package, both our pharmacology studies as well as our GLP package gave us that opportunity to start from that standpoint. We were also pleased to be able to start with a design where we do not include prophylactic steroids for either of our initial suprachoroidal delivery studies. So yeah, I think, a good question is always key aspect when you're thinking of starting dosing where you start and I think we just have the benefit of a lot of prior experience with subretinal delivery with the same exact transgene and the same exact AAV vector to take advantage of that to start with a dose to evaluate not only safety and tolerability, but potential signal.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> We stay in very close touch with our states. And I think the CEOs and leadership out in the field really do a good job of making sure that they're talking with the states and officials and those that are, I think, involved in making decisions around funding. I do -- we talked about this, I guess, maybe a year before last, and it didn't work out. It does look like this is going to -- it's going to happen now with the settlement. And I think that we believe that we're in a good position to receive some of those funds, but we can't really predict how the states right now will lay that out. There are other proactive, preventative services that I think they would seek to have, but we also believe we provide a key part of that continuum. So I think we are in close contact. We're watching that. And we're hopeful that it will allow us to treat more individuals with the funding that may or may not become available.[/INST] Prediction (one of UP, DOWN, SAME): UP

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Hey good morning and thanks for taking my question, and congrats on all the news. Just a quick update, Jeff, on your thoughts on hedging. Notice you layered on some, looks like some good hedges for oil for next year, for 2022 and just your thoughts on natural gas.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> It's pretty early to say. There are both gives and takes we're seeing. We're really focused on assessing what the impact of the inflationary pressures are on some of the input costs. At the same time, as we're looking at our productivity assumptions for operating and other measures of that nature, there are actually some opportunities and some improvements where we expect to see out of that. So there's a few moving parts. I don't want to speculate as to what the net impact will be. But it is something that is being assessed for sure.[/INST] Prediction (one of UP, DOWN, SAME): DOWN

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Thank you. Good morning. There's a lot of puts and takes on the SG&A line with the cost cuts, the lower credit costs, and now perhaps some higher labor and marketing costs. Signet has historically been in the 28% to 29% of sales range for many years. Is that a level that you think you can get back to in the coming years? And can you just walk us through any opportunities or pressures maybe around that number as we model for the next few years? [/INST] Prediction (one of UP, DOWN, SAME): DOWN

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yeah, so, except for the 2021 PPP where we collected the $3.4 million, we took -- most of that -- most of one quarter in this quarter and we'll have the rest of that over the rest of the year.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yeah. Thanks, Jason. That's all the questions we have. We just want to thank everyone for participating this morning, and look out for the new RZR coming on November 9 and new electric RANGER in December. And we look forward to talking to you next quarter. Thanks again. Goodbye.[/INST] Prediction (one of UP, DOWN, SAME): DOWN

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Good morning, Jon.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> The messaging is that our -- important messaging is that our target is $250 million without that joint venture. And as we know, that joint venture was done at levels that are accretive to FFO. But, whether they fall at the tail end of this year or they slide into next year, the messaging is really about deals in addition to that as those will be the primary drivers of FFO growth. Remember, the VA portfolio is accretive to FFO, but really a driver of CAD.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> I wouldn't, I mean -- yes, that's stretch, but I wouldn't call it unrealistic for delivering a value proposition. And remember this Brady, beyond brokered freight, which is clearly our focus now. We think the same product should work in a modified format, but should work for the shipper market, which is a $250 million market. Because I know, as of right now, at Triumph Business Capital, for example, 70% of the invoices we purchased from truckers are brokered freight, but 30% our shippers. And so, obviously, that means we have trucking customers who haul both in the brokered market, but they also haul directly for shippers. So our view is if this works and with further feature sets and enhancements, is well, where else are truckers hauling, where else does this issue present itself. And that would be with the larger shipper market. So that's -- and that's a certainly two to three years down the road plan. We've got a lot of work in front of us, just to attack what is right in front of us. And so, in light of that additional market opportunity Brady, I don't think a $100 billion is out of reach.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> So our non-COVID business is growing robustly. And so we have very high confidence that that will continue going forward. We had -- as COVID hit, we were quick to respond and had helped our customers build great tests, but then we also were able to supply them. So what happens is we built a lot of loyalty with some of these key customers and certainly it's been a positive impact for our business during COVID but ultimately now we're working with those customers in their post-COVID activities. And so we have strong confidence in a very robust double-digit growing business for our Life Science business outside of COVID. What we don't know is what happens with COVID right? Is it huge like it was last year. Is it here, but not as big and so part of -- Brian asked a question earlier about $100 million business, take $65 million business and we're approaching $100 million kind of core business over this next year without any COVID and I think we'd all agree that COVID may not be what it was last year, but it's not likely to go away and so I would describe to you that we have a lot of confidence that we have a robust growing Life Science business for a number of years going forward.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> That's a good question. We've certainly seen outward migration into really as you look at the Sunbelt areas, the Arizona, the Florida, even Nevada, Texas, Alabama, we've certainly seen housing markets to be very strong. Rental market to be very strong. That transition certainly, creating demand for storage. All of our markets have responded well though. And that's one of the things I think we're pleased with is we've had success across all of our portfolio. But those markets are performing a little bit stronger in those areas and you still have some COVID effect overhang going on with we still continue to have them cycled back yet, the communities haven't solved their return to office, return to the gym, garage, those type of things. So that's still out there. But our tertiary markets even though they had a great 2020. If you want to look at it compared to some of the other markets are still standing up very strong. So I think there's a lot of factors that we're talking about and that transition you mentioned is one of them.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> We don't have an exact answer for that, but if I had to break it, I would say that the effects of increased submissions, increased rates and increased exposure are all roughly equal. So let's call it 1/3 of the growth is increased exposure. But that's a guess.[/INST] Prediction (one of UP, DOWN, SAME): UP

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yes, Ken, this is Charles. What I'd say is that as always, we balance our investment with expenses with revenue. So as we continue to perform and grow, we'll be adding some of that expense back. We'll be reopening travel fairly soon here, so that will start to flow through, all of it, mostly to support sales and growth. And then as the volume does recover, there will be some throughput of that on the expense side and processing.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yes. Another great question. And respect the ask, we're not going to give guidance in terms of the parameters that have been approved by our board for the repurchase of shares. We spent a lot of time focused on net asset value, focused on the potential future cash flow generation that our aggregate business is capable of. And we're really excited for a time when investors and analysts start to move away from this robotic and revenue-based analysis, which we think is completely inappropriate when assessing companies in the space.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Appreciate that.[/INST] Prediction (one of UP, DOWN, SAME): DOWN

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> I mean, I think, Tyson, we'll -- depending on the cost of rod and this pricing environment, I suspect we'll be using working capital or building it over the period of, into Q2 and the balance of the year.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Thanks. So Chris, maybe just to dig a little more into the RSNs, maybe you can just tell us a little bit of what happens next. I think that probably the Dish discussion is ongoing. So I'm just curious if you would accept an agreement with DISH that didn't include them. And then if we kind of think about where you might be with the RSNs, if you come in at the low end of your guidance this year, it could mean a renegotiation of debt or some more liquidity coming in. And I know these are what if scenarios, but I think it would just be helpful. If you could maybe just talk about a little bit of how you're thinking about those scenarios. And then, Lucy, the buyback commentary was very helpful. You certainly were opportunistic last year to take advantage of the share price dislocation. As you think about uses of broadcast cash flow going forward, is it debt reduction? Is it being opportunistic on maybe potential in market station M&A, participating in a diamond recapitalization? Maybe just help us think about uses of broadcast cash.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Okay. Well, if there are no further questions, on behalf of our entire management team, we appreciate your listening to and interest in the call today. Mary Anne and Joe Box are available today to answer any direct questions that we did not cover that we're allowed to answer on the reg FD, reg G and applicable securities laws in Canada. Thank you, again, and we look forward to speaking with you at upcoming investor conferences or on our next earnings call.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> I'm well.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Thanks. Hi, everybody. Just to ask about Evernorth, two aspects there, one with now enhanced capital for deployment, it seems like part of the story for Evernorth is diversifying the service offering beyond the pharmacy benefit focus that it currently has. Can you comment on how quickly and you think you can diversify and what is -- maybe update us on the areas that you're thinking about adding to the capability there and then just basing on Evernorth, there was some talk last year that the PBM selling season, people were renewing for a year because of the pandemic. And do you expect the selling season to have more RFPs than normal this year? Or is it sort of a normal RFP season from what you're seeing so far?[/INST] Prediction (one of UP, DOWN, SAME): DOWN

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yes. So definitely in the last question, we're looking at all kinds of different resin solutions, post-consumer, biodegradable, everything was on the table in that regard. I think, really the name change is just to say that this is more about the custom nature of the business than it is about the substrate. So does it necessarily mean we would do a different substrate in there? Not necessarily. This kind of custom container is more suited to plastic. Part of the reason that we are in plastics is there are markets that need them. I mean, let's be honest, we're not going to go back to glass in our kitchens and our bathrooms. And so you really -- there just is a need for plastic. But that isn't -- what we've kind of looked and said is that a differentiating element of our business? The answer is no. There are a lot of plastic business out there that are not as customer-focused, that are not as solutions-based focus as our business is becoming. And so really, the name change is more to highlight what we think is unique about the business rather than the substrate.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yes. Sure, David. First, our teams have worked really hard. We like to make the statement. We've made every shipment to every customer during these past 12 months. So, whatever the global pandemic has presented in terms of challenges, our teams have risen up and have met those challenges. So, we're very pleased and feel very fortunate to have that as a fundamental. That also means working throughout our supply chain and working closely with our suppliers. They're important partners to us, with the technology that they bring and the delivery that they bring to us. So, we're working across the entire supply chain, and we've built our company based on having these critical-enabling materials that help solve our customers' most important problems. And if you build a business based on that, then you need to make sure that you're delivering the products on time, in full. So, we spend a lot of time kind of managing all of the above. We probably won't go into too many details about that, but we spend a lot of time managing all of the above to make sure that we can provide those advanced solutions to our customers.[/INST] Prediction (one of UP, DOWN, SAME): UP

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> If there is any, they will be very fleeting because when the tools are installed they can immediately be loaded. The good thing about mainstream is -- the high-end is difficult because qualification times are 9 to 12 months, mainstream qualification time is usually 30 days or less, sometimes zero. So, we may see a little phase lag in one quarter. That maybe depends, right, in one quarter, there might be a little bit of a drag, but in the next quarter it will be completely gone and likely not at all. Margins will be diminished in the first quarter for that particular tool. But, given how quickly mainstream tools ramp is it would be a very fleeting effect.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Hey, thanks. A couple of quick ones here for you. First one, just curious, Metromile announced this morning that they're going to now start accepting Bitcoin for premium payments, as well as claims payments. What's your thoughts on that? Any challenges that that presents?[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Great. Thank you. So I guess, first, can you talk a little bit more about the drivers of your higher same-store NOI growth outlook?[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Thanks for taking my question guys. If you could -- I'm interested in -- obviously, you can't talk about the one Garden thing. So I'm going to ask you some questions on the leasing. I noticed you had $5.3 million of lease term, which is $5 million -- approximately $5 million more than it was last year. Maybe if you can give some color on that, what that represents. And then maybe also talk about some of the regional differences, perhaps.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Great. Thanks. Will, I wonder if you can give your thoughts on the idea of eliminating 1031 exchange; specifically for the LXP portfolio, what that might mean for the office properties that you're still trying to dispose of and then, how you anticipate that might impact the transaction markets and your growth plans going forward?[/INST] Prediction (one of UP, DOWN, SAME): UP

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Thank you.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> I think the first question will depend on what the FDA will address -- will require in their complete response letter. They clearly want a study. So that is a subject for discussion and we will elaborate on that once we got clarity following the meeting. We certainly will want to go in making a suggestion. So, your proposal is not an unreasonable one. We will take that into consideration. Regarding resubmitting without additional new data, certainly, this is a venue we will discuss at the meeting as well. I would consider perhaps reinforcing the overall survival analysis as we -- as I mentioned earlier on rather than resubmitting without new data that maybe more convincing argument just in my view. Does that answer your question?[/INST] Prediction (one of UP, DOWN, SAME): DOWN

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Go ahead, Jesse.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> 7,500 units, a lot of labs. So all the other competitors, I don't know. If you have to ask them. I should -- probably that's my only comment on that.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> I'm going to repeat what Cory said, and I'm going to ask Cory to make some comments. I think the overall tone of what Cory said was the $100 million to $200 million is going to be a challenge. My words would be, and we're up for it, but it's going to be a fight. But maybe there's some other admonishments for further detail, Cory, that you might want to add.[/INST] Prediction (one of UP, DOWN, SAME): DOWN

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> We haven't disclosed that. Just the percentage. The percentage was down 4.7% in April.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yes, it will be seasonal, you know, during the education season as we'll see some seasonality there. And then it's just going to become a smaller piece -- a smaller percentage of our total. Again, as we're moving the Jamf Connect out of that bucket and as we continue to migrate the remaining straggling account into the cloud.[/INST] Prediction (one of UP, DOWN, SAME): DOWN

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> You too, Connor.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yeah. Thanks, Eric.[/INST] Prediction (one of UP, DOWN, SAME): UP

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> All right. Do you see any other questions?[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> This newer run, this $1 trillion bill look -- looking -- largely looks to address traditional infrastructure, but it's a 2,700 page bill that just came out last night. So I think we're going to wait till the clips -- clip note versions of that. But if -- and I think you've got still some issues with the attempt to couple it with the reconciliation bill. But if and when something does pull through, as Jason said, it does overlay well with our end markets and we're absolutely well positioned to benefit, and we expect that it will certainly extend the runway of a favorable rate environment.[/INST] Prediction (one of UP, DOWN, SAME): UP

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> And Apple is coming to town. That is really an exciting thing for the Raleigh-Durham area. CPI has done most of the work over the last 10 years in the Research Triangle Park. So that is going to create a huge amount of opportunity for our North Carolina markets.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Sure, yeah. Well, it's a continued ramp through the year. Every quarter last year was higher than the previous and we expect that to start that pattern. I'm asked all the time, when are you going to start to see another customer that has a higher business potential or profile than Verizon? And I'm pleased to report, it's early in the year, six weeks, eight weeks of data and sell-through, but our 5G hotspot device is the sell-through data from T-Mobile is roughly 50%, actually 54% per week higher than Verizon. So we're seeing very strong demand there and that's a very important customer. So, we expect to see steady run rates with -- through the operator channel that has to settle down. We're onboarding new operators that's additive. So, we see an up and to the right profile this year. And quite frankly, we should see in the second half, 5G revenue crossing over with 4G, in other words, higher. So very, very strong uptick, very strong demand, great reception and the enterprise activities just getting going.[/INST] Prediction (one of UP, DOWN, SAME): DOWN

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> No, I just said were originally talking, Mike, if you remember, several quarters ago, 45, 50 holes, something in that range. We've increased that to the 55, 58 type range.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yeah, the openings are spread out across the organization and Alta we believe is really got some very, very strong people. We've been really impressed with the quality of the team. And yes, we expect, and we're still in the process of having discussions with them, but we expect that many of the folks. Certainly, most of the folks there as you know with our model, there won't be any change. We buy good banks in good markets with good people and we just want to have been continue to keep doing what they're doing. At the staff level, that Alta is probably maybe more where your question is. The operating folks in the branches, there's really no change. The staff people, most of those continue to keep doing what they're doing. But there is some of the leadership positions there that would be -- we think will be a great fit for our organization. So we're very excited about that aspect of the transaction.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> There is lots more applications within, say an Amazon Fulfillment Center, that can be accomplished through Independent Cart. Today those pieces of their overall facility are typically being provided by multiple of our customers. So you don't see necessarily one single sub-supplier to them, providing all of the conveyance and sortation and so on. And so we're working with some of the big ones, of course, these names you would recognize, but there's also a whole host of integrators and machinery builders with a good idea, now that Amazon is bringing into their ecosystem. And so we're working with a lot of the smaller suppliers and I would also add, this isn't just for the baby commerce giants. Now this is for the big box retailers who also looking to automate bare material handling, the Walmart's of the world are also looking at these solutions at their individual locations, where they're bringing in tremendous amounts of material to try to get into right place more efficiently than ever before. But we see almost limitless opportunity, just on the e-commerce area for additional adoption of Independent Cart and as we've talked about, we see Independent Cart wins in other applications outside of e-commerce. We see it in Life Sciences. We see it in Food and Beverage Packaging, given scalability and flexibility that manufacturers could never see before. And then we have some, let's say more unusual applications like the one we talked about with the US Navy, a few quarters ago.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yes. I mean, so on the acute side, I think we've all read that states that have seen a significant increase in Texas and Florida and Nevada. And unfortunately, from an acute perspective, that probably covers of our acute care revenues. So, we're seeing that increase in all of our markets, but I think probably Vegas is the most acute at the moment. And then on the behavioral side, it's pretty spread out. I mean, we do have again, a pretty big presence in Florida and Texas. From a behavioral perspective, we have some hospitals in Missouri, which has been kind of a focal point of the COVID resurgence, etcetera. So, we're feeling that tension in a number of different markets on the behavioral side as well.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Let me add my -- how pleased I am to see the progresss, and congratulations to everybody. Sonia, I guess my first question is on the incremental ad spend that started in the third quarter carried into the fourth quarter. Can you talk about how you felt about the return on that ad spend, what it means as you go into this year and what we should think about either in dollars or that -- I guess it's pushing on 5.5%, 5.7% this year, but on very low sales, so how we should think about total ad spend for 2021? And then Katrina, could you just remind us? I think I just missed it in the prepared remarks. The lost sales during the fourth quarter, what percent was from store closures, temporary versus permanent store closures? And how should we sort of shape the sales against fiscal '19 Q1? Thank you very much.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Thank you, Yigal. Appreciate the question. Let me turn the first question over to Bob and ask Richard to chime in on the second question. Bob?[/INST] Prediction (one of UP, DOWN, SAME): DOWN

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yes, Kevin. So the two businesses that were impacted besides automotive the most was architectural, due to Emulsions and Traffic Solutions the same thing. So we had a hard time getting the Emulsions and Resins from our suppliers. You can't make paint without that, and so we were hand to mouth on those kinds of things, despite having significant demand. If you go into any of our stores or going into the big boxes are asking the DOTs there would all tell you that all the suppliers are struggling to put paint on the shelves. So I think that was the most material things. But it is interesting, we didn't track it, because I didn't think it will become a material number. But the number of other places that chip show up, whether it's appliances or other heavy-duty equipment, so everybody has been impacted somewhat, but it didn't -- it really didn't turn out to be enough of a number to call out. But I would say the two biggest ones are architectural and Traffic Solutions.[/INST] Prediction (one of UP, DOWN, SAME): DOWN

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yeah, I think, again it's difficult to pinpoint something, every client conversation is a little bit different. but, generally, it -- through the conversations, it's driven by -- it's, again, driven by sources of funding. And the sources of the funding that is becoming available or the confidence around it becoming available is improving. And in terms of the areas or the opportunities that we we're seeing, we certainly are seeing the opportunities in transportation, in water and also in environment. Again, as I said, our Construction Management business is certainly challenged at the moment and the pipeline is still robust but we have not -- we're not seeing the pipeline or that we have the pipeline growing in the same way that we are in the design business, and certainly in those end markets; transportation, water and environment.[/INST] Prediction (one of UP, DOWN, SAME): DOWN

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Sure. Yes. I don't think we did give that, but I'd be happy to. Let me just pull that up here. Wholesale footwear was 27.7%; wholesale accessories and apparel, 29.8%.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yes, and that's something that we talk about a lot internally. There's a couple of different ways we can increase to $150 million. We could sacrifice quality, which I don't think we're willing to do. I think the more likely avenue, if we were to want to do a lot more in acquisitions in the near term, I think, as we lay out that bell curve of efficiently priced assets, we'd have to eat a little bit more into that bell curve and buy from assets that are a little bit more efficiently priced. So I think on the margin, you'd see where the -- using your example, $150 million, I think you'd probably see a slight difference in the overall cap rate.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yes. Thank you, Steve. So first, I think there are two aspects to this. The first is the demand side and the second is playing to our strengths. On the demand side, absolutely, our customers are asking for more and more circular products in plastics each year, which the demand that we can't meet. And that's driven by their own commitments to increase recycled content and packaging. So the entire value chain is pulling, starting with the brand owners, they're pulling more circular products. And I think that will just grow as the years progress. Why I think we should read on circularity is that we have a strong technology base in polyolefins. We have polyolefins process technology, catalyst technology. Also, we're developing this MoReTec technology, which is the molecular recycling. That pilot plant should be operational in the coming weeks. And I suspect by about March, April, we will know whether we have an investable technology. My sense is that we will. The question will be to what degree can we get the yields that we want of pyrolysis oil. Our current plan is by end of next year to be in a position to dedicate some of our capex to building a MoReTec plant either in the U.S. or in Europe. So I think it plays to our strengths and demand -- the demand pull is there from the brand owners.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Michael, Greg Floerke here again. We have seen incremental Mariner East capacity come on over the past few years, and whether it's Mariner East 1, Mariner East 2 or Mariner East 2X. There's been incremental growth that we and our producer customers and others have taken advantage of. I think that in terms of -- it's one piece that dictates how much capacity there is to go -- that goes out. Obviously, NGL is one controlling factor but also residue gas pipelines as well as processing capacity. So we are operating in that high utilization range. And so it's really hard to say whether there's any overall uplift from additional mariner capacity come online. Clearly, it's a good thing, because anytime you have pipes that are running at high capacity, you're adding additional capacity, takes away potentially one bottleneck, but not sort of a stepwise expectation because of the high utilization on all of the interconnected systems from our perspective.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Thanks, Jeff, as always.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yeah. Dave, it's a great question. And I would say that's a very important evolving part of the market and one that I want to partner with. I think the likelihood of us owning a field team that's going to be making house calls is pretty small. I think it's much more likely that we would partner with those who are doing that, and really importantly, take advantage of the evolving technology, as well as the evolving sort of FDA approval process because, as you mentioned, more and more is going to be approved for administration within the home. So totally agree that that's an important part. And we're already doing the work, especially on our Primary360 product to integrate with those solutions.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> I would say that is a fair and accurate statement.[/INST] Prediction (one of UP, DOWN, SAME): DOWN

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> No. Sorry. And if I said that, let me clarify. What I intended to say was that the second quarter will be the largest decline of any of the four quarters of the year. So it will likely be substantially larger than what we saw in Q1, and then Qs three and four, ballpark should be roughly similar to what we saw in Q1.[/INST] Prediction (one of UP, DOWN, SAME): DOWN

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yes, Jon, our strategy on M&A continues to be the same, namely to add products to our -- businesses to our distribution platform, parts of the world where we're not as strong as we would like to be. And at the same time, advancing our specialty areas, namely software, the specialty products area, and services. And maybe multiples to increase to some extent. But there's lots of opportunity for us to create synergies and to bring new value-added services to our customer base. So, we remain quite optimistic about the M&A area. Obviously, there's no deal until there's a deal. And our pipeline remains quite full. Having said that, again, we cannot commit to any particular quarter. And I think you heard from Steven's guidance that there's nothing in these numbers for M&A that is not announced.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Sure. Thanks. So -- yes. So in terms of the compensation plan, kind of I think it reflects the fact that we are looking to build a long-term, very robust company that has a significant positive impact in medicine and then -- and very much want to create the right alignment of interest to build that long-term, highly impactful company. And when we think about kind of Genesis, really, our role of Genesis as a medical device is to create very precise uniform magnetic fields that are controlled by a physician, where the patient's chest is or wherever the patient's anatomy is that requires therapy. And what you need to move to other indications is the right interventional devices that we -- can be controlled by those magnetic fields. And right now, there's a cardiac ablation catheter that has the right kind of design so that it can be controlled by those magnetic fields. And in the future, you'll need a family of some other devices to be able to do so. Again, I think there's kind of -- every aspect of our technology can be improved significantly from where it is. But kind of in order to move into other clinical applications, and it's that kind of suite of interventional devices that needs to be developed.[/INST] Prediction (one of UP, DOWN, SAME): UP

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yeah.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Look, it depends on how far the price goes up, and again, more specifically, If prices went way up now, today's depressed level of volumes, the impact would be a lot lower than if it was going up with the level of volumes we were servicing in 2019, right? So it's really a combo of the two. So again, if prices continue to accelerating and volume, which we began, we'd all be happy if that accelerated rapidly, that would create a scenario where cash flows may be diminished to a much lower level. But you would need that on both of that path.[/INST] Prediction (one of UP, DOWN, SAME): DOWN

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> I would say it probably would not be prudent for us to project high single digit loan growth. I think we just based on our pipeline, which we feel like are pretty strong right now, we expect mid-single digit loan growth going forward.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Thank you. Obviously, that was the last question Okay. Hey, look, everyone, thank you. Really appreciate your engagement. Please have a safe and joyful holiday and we look forward to talking with you guys at the next business update. So thank you very much.[/INST] Prediction (one of UP, DOWN, SAME): UP

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Good morning, guys. If I go back to the labor question, and Jeff, your discussion about the ability to kind of redefine what labor is needed in hotels. Isn't there a caveat to this discussion that you can do that as long as the guests don't start to complain? And we heard yesterday on another call that the guest satisfaction scores are starting to reflect some of the labor shortages in the hotels. How do you think about balancing the staffing model with what guests are used to?[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yes. Thanks for taking my question. I'll echo the congratulations on the very robust execution, especially on the fulfillment side in the current environment. Mary, I wanted to go back and follow up on the comments that you made about booking business into the second quarter of 2022 and to see if you can help us with some color on what you're seeing as things look out that far relative to maybe the mix of business, mature foundry versus memory. Does it look similar to where we are now? Or is it tilting one way or the other? And maybe secondly, just in the composition of what you're seeing, what are you seeing with respect to uptake on some of the new products and the product line extensions that have had very good momentum over the last 18 months?[/INST] Prediction (one of UP, DOWN, SAME): UP

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Thank you for joining us on today's call, and we look forward to providing our next quarterly update in early 2022, and I wish everyone happy holidays and good health.[/INST] Prediction (one of UP, DOWN, SAME): DOWN

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yes. I mean, I think, first of all, it's very clear on the unilateral side that we can see the benefit and follow it quite closely. And so, we wanted to get going with unilateral promptly. We are still considering bilateral, but we are trying to get learnings there. I can tell you that KOLs do have -- there is a question of the impact you'll have across both years. And so, it is something that we want to do a little bit more work to really understand how best to design that trial. We do think that there is opportunity in bilateral patients for sure, for this product. But it really more is in regards to how to properly do this study, and that's part of what we're working on with this.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yes. So pretty broad, Sheila, and not based on any single one. But Steve, you could -- or Peter, you can give some view on that, on the uptick.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yes. Thank you, Liam. We have worked on Simandou for many, many years, and we have knowledge about the ESG risk second to none, I would argue. But you're right, there's not a lot of news today because what is key is to get all stakeholders aligned. Of course, the government of Guinea, together with a number of primarily Chinese stakeholders and ourselves, and we are pursuing those discussions. I cannot set your time line because I can't control other time lines, of course. But we want to pursue this. We would love to participate. We have a lot to add to this project, but we need to find common ground on how to progress it. In the meantime, we have people on the ground, keep on working on the ESG risks, etc.. We still believe that this is an attractive project for Guinea, for Rio and for all stakeholders. Thank you.[/INST] Prediction (one of UP, DOWN, SAME): UP

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> So when we crafted the program, we wanted to make sure that we were able to get to the milestone within a year. And the upside potential could be generated by -- as the volume scales into the gaming business going forward, which obviously is going to be a combination of North America and international, as you also highlighted. So we expect that there is potential out there for more savings to come. But we also need to keep in mind at the same time that we have to face supply chain constraints, which are able to offset with the incremental savings that we have achieved so far. And we expect that, obviously, also to represent a good buffer for next year. But I think we will elaborate more on this next week at the investor day. [/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Hi, Hassane and Bernard. Good quarter and great year. Bernard, congratulations on a great career. Just a couple of questions. Just wondering on the automotive side, you mentioned sensor module and some pickup on the electric vehicle side. Is your guide still for a longer term 9% to 11% about what the automotive market growth is? Or do you see upside based on some of the wins that you have here? And then I have a follow-up.[/INST] Prediction (one of UP, DOWN, SAME): UP

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Just a quick follow-up on Silvertip. So you're increasing the investment ahead of the economic analysis and really ahead of the signing of any offtake agreements to kind of lock in the economics. And so everything seems to be moving in a really good path there, a really good direction. But my question is you mentioned the off-ramp. So if you decided not to move this forward, how much of that $75 million to $90 million would you have spent or how much would you end up kind of writing off of that? I mean, in terms of versus the alternative, waiting to spend that money or commit that capital after the economic analysis?[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> So if you -- I'll just give you one point of reference and that's our achieved -- I mean our achieved rate compared to our in-place rents and this isn't necessarily the move-out rate versus the move-in rate. Our in-place rents are actually above our achieved rates today. Now remember, this is the time of year when this is usually the most negative, meaning your achieved rates in January and February it's the highest -- your existing customer rates are compared to your achieved rates on an annual basis. So the fact that our rates are up 10% year-over-year in February is good. So our in-place rents are about high single-digits above where the achieved rates are today.[/INST] Prediction (one of UP, DOWN, SAME): UP

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yeah, yeah.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yes. We -- some of the things we're doing, we do have 40,000, 30,000 acre ranches -- services that we're looking at both wind and solar farms on those. We're waiting for the extension of the tax credits on both of those in the infrastructure bill to go out to the marketplace. Secondly, we're starting to electrify a lot of our practices. I see, over time, moving from diesel to natural gas or moving from natural gas to the grid. We'll be doing that. We're not getting as fast as the measures or Oxy is in the carbon capture. We're valuing it and studying it. We do have -- we talked about our enhanced our range fairly project that there core directing like that. But we do know that CO2 does work. It works as -- gas. So as far as we were working an oxygen research on both oxygen capture and hydrogen.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yeah, Michael, we still have an overall strategic plan to consider where we think core assets are versus not. I've said in many calls that the bid-ask has been too wide for us to consider. I would tell you that, that bid-ask is narrowing. But at the same time, we are very comfortable still with the assets that we have in place. We don't have anything, I use the term, on the front-burner. But if we maintain this type of activity and the commodity prices stay where they are and there is a little bit of a renewed interest, then maybe there is a transaction that could occur at some point. Nothing right now on the horizon. We're interested, but we're also very happy with where our assets are. And my philosophy has been all of our assets need to generate free cash. We're in that mode. We continue to be in that mode throughout all the eight basins that we're in. So I think overall we're still happy with the situation we have, but we'd like to optimize the portfolio for the long term if the situation arises. But it's not something that we have to do.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Well, there's a possibility they could be. So, I think a lot depends on the continued pace of sales and how they grow. And the staffing that we've talked about is getting back to full staff like we were in 2019. So, I think that's a piece of it. There could be some efficiencies on the To-Go side. If that continues to be a little bit higher piece of the sales number, you could see a little of efficiency there because you don't have that quite as much labor perhaps on that To-Go side. So, that might be where you can see some opportunity to pick it up.[/INST] Prediction (one of UP, DOWN, SAME): UP

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Hey guys, thanks for taking my question and congrats on the progress. It does seem like the FDA is being pretty cautious on the tab-cel BLA. I guess given that you can't pool and that you think the Q2 update on ALLELE is as far as you're going to need to go, what is the duration of response that you'll be able to claim on the pivotal data relative to what you could have claimed on the pooled data? Separately, it seems like IND timelines for the allogeneic CAR-T programs are going to be a little bit back -- toward the back end of the prior guidance. I just wondered, what's the gating factor on those INDs going forward from here?[/INST] Prediction (one of UP, DOWN, SAME): SAME