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llama2-earnings-stock-prediction-fine-tune

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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>> Thanks Quinn.[/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 don't -- I think it should be better. But again, we're cautiously optimistic with an emphasis on the word cautiously.[/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>> Depending on the business lines these inventory where we have -- we are very comfortable with the level of inventory we have today, even though we are under the increasing sales volumes this year, that's very good news that having inventory allow us to have the flexibility, if we have additional volume sales, I think that in volume strategy in inventory volume study is a very good one. We continue to be very good for the company in order to perform our business strategy. I don't foresee any big moves in the total inventory during this 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, Margaret.[/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>> Well, the benefit was certainly immediately accrue if rates went up. There is -- and probably more so for Comerica than peer banks, just given the very significant asset sensitive book we have and the LIBOR-based characteristics we have. Now, we do have significant loan floors in place and they are given us significant lift but even with that we maintain quite a bit of asset sensitivity. So, we would certainly benefit right away.[/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, this is Calci [Phonetic] on for Michael, thanks for taking our questions. I think just two from us. First on 596, I guess, are we still thinking about now that you're kind of moving from one cycle to two cycles? Is there still any flexibility there to maybe increase that further? Or is that kind of where you think you'll end up and then kind of following up on that, as you build out the solid tumor franchise, I guess kind of what you based on what you've seen with 500 and 516? Is you know adding additional cycles for the upcoming next gen products. Is that something that you would consider? Or are you still kind of thinking about three cycles as the max? 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>> Good morning, Russell.[/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>> Prior to coming over, it was in excess of $1 billion.[/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, I mean, like going from 3% the year before to 10%, it's still very, very minor part. And in most of the time, these are smaller complementary facilities to our existing footprint. I would say a couple of them more kind of big stand-alone ones, but for the most part, that market is still very expensive. And I mentioned to Jamie the cap rates on those deals and you can see the difference, the stuff that we're building and converting is expected to -- it depends a lot much better than the existing stores that we're buying.[/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>> And some words that now bring out and put into play our intention around things like the future of the company in relation to ESG, D&I, all those things that have become, importantly and rightly so, headlines for most companies, and to be honest with you, things that have been present in our company for a long, long time, yet we haven't really put them in print.[/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, 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>> Hey, good morning. Thanks for taking the question. I just wanted to ask one about mix and how you see that developing here throughout the rest of the year. It looks like on a sequential basis, it was still weak either way in most of your core pricing gains there. But given the commentary about the volume outlook and the back-half of the year, I would expect that that should start to turn positive. So any thoughts on there would be appreciated? And also the implications for fuel economy, which as we talked about in the past has been also impacted by adverse mix?[/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, Mike, you want me to start with the first one?[/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, Marie, we are planning, as we said on the last call, to use our 90,000-patient database to be able to speak to the FDA about retrospective studies to look at other indications. So, so far, the FDA has been willing to talk to us about it, and we have requested a meeting with them to formally present it to them. So I think that is our use of the data and our first target, we should know something toward the second half of the year, third quarter.[/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>> Absolutely.[/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>> Leo, can you repeat the second question, please?[/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>> Good morning, gentlemen.[/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's make the next question, the last one, please.[/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 Catherine.[/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): 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, Latiff. We want to thank everyone again for joining our earnings call today. We look forward to connecting with you over the coming weeks and hope everyone is continuing to stay safe and healthy during these times.[/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. We've talked about this over the last few years. We -- for the right situations, we like second liens. We -- but we're so picky about those situations. So we only -- we really like to do second liens to businesses that are very stable, substantial equity commitments and tend to be bigger companies on average than the first lien portfolio companies. For average EBITDA is $100 million across the portfolio. The average EBITDA for our second liens are $175 million or give or take. So we tend to do it in bigger companies that have lots of wherewithal. And so we feel like we're getting the premium spread you get for doing second lien but get the same equity cushion and just high-quality businesses. So we just didn't see any of those in the first quarter that fit our parameters. But I'm also signaling that we will do more second liens, and we're at a pretty thin amount of second lien. And I just -- when we do a few, I hope folks will remember this quarter, where we did not and take it in the overall context, which is we're really selective. I could easily see our second lien percentage going up and -- but we're going to remain very disciplined about it. But one quarter's deal activity doesn't really make a trend. It's a small opportunity set. But since inception, our bar for second liens have been very high, and I think that served us quite 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>> Hey, Charlie, Charlie, you're really cutting out. This is Lee. You're really cutting out. I'm not sure we picked up. I think you were asking, you know, a question about FICC and you know, something but we couldn't hear 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>> Aryeh, I think the benefit with what we're looking at in '22 is they're all established long-term relationships, and we got tremendous confidence they'll be continuing QTS customers.[/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>> And in terms of supply chain, you know, yes, we are experiencing headwinds. We are not fully out of COVID. There are problems to overcome and cost pressures in the supply chain, sourcing, production, logistics, fulfillment, and also the tightening in the labor market. So, we've done several things to mitigate these pressures. We are expanding our third-party footprint. We've identified alternative port strategies. We've adjusted our product lifecycle calendar, actually, up for weeks to adjust to some of these headwinds. We are also shifting to air when it's critical. We are partnering with suppliers for alternative countries of production, and we are continuing to keep our inventories lean so that the regular price can continue to drive solid gross margin to absorb these escalating operating costs.[/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 is -- sorry, the revenue initiatives. Ravi, I think most of it is that you would expect -- and Andrew mentioned and he can jump in again, but a new arm system, which ours was 20 years old, and we're excited to have the new one in place. There's a few things. I mean they're just -- we're not super excited to talk about, but distributing our premium economy cabin. Indirect channels, we only distribute prior and direct channels. The American, oneworld, WCI stuff, those are all sort of on the list of things that are going to contribute. I don't think we want to talk a whole lot about things that are new that we might be looking at or different today. But if we get closer to an investor event, we'll lay out sort of more clarity on all of these areas.[/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 get it. Okay. So I think what's more important than the physician than the visits to the physician offices is actually our patient, our ARIKAYCE trainers that visit the patients to introduce them to the device, to train them on the device on how to successfully initiate therapy with ARIKAYCE and what to expect from therapy. And so we do see that as the in-person training varies, so we do remote and we do in-person, and the patient is absolutely entitled to choose in which manner they want to receive that training. I think we see slightly better results when we have the in-person training, but the virtual training is also effective in introducing the patient we just see as we're able to get to in-person to spend a significant amount of time with patients in their homes and talking and introducing the therapy that that has a beneficial impact on patients tolerating and continuing on therapy.[/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. Since IMSS was launched in China, is that made in Taiwan, and is that something that Sinochem and LCY can do as well? Do you think the competition is going to be primarily other materials?[/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>> So, yes, I will tell you what I'd like to have from these rating agencies is, you know what, they need to start giving one rating, LT, that's it, instead of A, B, C, D, give me a LT rating, that's what the investors want to see. They give them money all the time. Every price starts 200 to 250 basis points below competition all the time, as you know.[/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>> [Foreign language][/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>> You're welcome.[/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 thats definitely the case. So were coming kind of bouncing off the bottom here. Youre correct that in the third quarter, although NIM expanded, we really didnt get the full benefit of the loans that were brought on in September or even the pool purchase that was in late August, nor we did deploy about $50 million into securities as well. So I think in the fourth quarter, when you have the full quarter impact of that growth, youre going to see expanded margins. The other outlook item is were feeling very bullish about the teams weve brought on board. Theyre doing great building pipelines. Its too early to be able to really fine-tune how productive they may be. But its possible we may be able to deploy all of our excess liquidity as early as midyear next year, which would be one or two quarters earlier than we thought. And that bodes well for margin as well as net interest income.[/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, it is possible. It's something that's probably going to be somewhat challenging as a single arm with multiple drugs. But once we have all the data put together, we'll definitely have a conversation with the FDA and see what their appetite is for an accelerated approval. We know that accelerated approvals in CLL are challenging these days for them. But we do feel that the data will be quite encouraging. So we'll take our shot. No guarantees for sure, no guarantees, but we'll take our shot. If not, again, we think it's a very robust data set that should provide potential update to the NCCN guidelines. Our Phase III, we're well into the enrollment phase, and so that'll be ongoing. And both drugs are approved. And obviously, we would not be marketing at all to U2 plus venetoclax. But physicians are capable of making their own decisions. And again, both drugs would be approved in the indications that someone might use them. So, again, we'll at best have something that's useful for [Indecipherable] listing. Best case scenario would be an approval. But the second option would be, it'll be useful for [Indecipherable] listing, and that's pretty good, too. And then like I said, the registration trial is ongoing.[/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. Good morning. Glen, I noted your comments about the balance sheets with the leverage being the lowest of the peer group. I was just wondering how you're thinking about the leverage over the cycle of the capex plans? Who got C-band options in 18 months? How are you thinking about where that's going to go over the next few quarters and how that plays into the dividend model and the payout ratio for the dividend as well? And if you've had any discussions with the rating agencies since the auction?[/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. As do I.[/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, we -- I mean, right now we're -- we're working with all of our partners. We -- we generally have long-term deals with both suite holders as well as sponsor agreements. We believe in being very -- we believe in -- in being consumer-friendly. And so, we're working with all of our partners right now. Obviously, New York is in a different place today than it was a year ago. But I'm hopeful on the rebound. I feel the city getting more lively every single day I'm here. And -- and -- and our partners, you know, we're very focused and staying very close to our partners and thinking long term. And so, while -- while we're currently focused on this season, it's hard to take a -- a really long-term point of view, but I feel very good about long term and our long-term relationships and the way the partners -- how we've been able to -- both suite holders and partners, how they've been working with us during these difficult times.[/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 impact really is really about duration, right? So you've got the Philips recall, that issue. But then the other manufacturers have chip shortages as well. So there is basically is and going to be somewhat of a shortage of equipment. The other manufacturers combined, even if they had full chips couldn't make up the Philips capacity. So there's some metering effect here. And the faster the chip shortage gets resolved, at least for that small sector of manufacturing, will really impact whether it's a big, small -- again, we think it's probably larger than zero from an impact, but we don't think it's bigger than what Debbie described.[/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>> That's correct.[/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, Jamere talked about the fact that we're beginning to see some pretty significant inflation on certain product categories. I don't think that that's been a big driver of our performance in Q3, but it is something that we are very mindful of as we move into Q4, and frankly we have in the past some of those cost along [Phonetic] to our customers just like we've done for the last 40 years.[/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, yeah. That was in the compensation and benefits fine, the $1.8 million save. And that was -- what I tried to profess is that that happened in the fourth quarter. But that's not going to be our run rate going forward. We do expect that not to be recurring.[/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, Noah.[/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. So again, Colin, how are 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>> Good morning, Ric. How are you doing? That was a lot of fun.[/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): 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, everyone. I guess first question related sort of more clarification I want to understand like when you show these bridges, like you're showing some pretty good incremental margins on supply chain issues, inflationary pressures, etc. That's in the operating performance?[/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, I think what that speaks to is the fact that secondaries are becoming an increasingly more and more important part of the overall asset class. So the growth in that space overall has been significant. But I would note, and you just said it, they're acquiring. This is not new entrants coming into the market. These are acquiring franchises that are already there and in some cases, we've already had been competing with. So I think the success that we've achieved to date has already been in the landscape where all of those franchises exist and have continued to exist. So I think what that tells you is it's a really big pool of capital that's out there. We have sort of our share of that. We believe that both that pool of capital will continue to grow, and we're hopeful that our share continues to grow. But we don't really see the acquisitions as being all that noteworthy or impactful to the business.[/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>> Hi. It's Roy for Jason. Thanks for taking my questions, just a couple of quick ones. So for felzartamab and IgAN, just curious what you see as a market opportunity. And then for the trial that's going to start later, any details you can share on that trial design? And then just a quick one, any potential milestones from GSK for otilimab that you can remind us of?[/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 that question. I'll start out and maybe Dan can provide additional context. I think a number of things have been in play and a lot has changed in the last 18 months. But whether it's through government stimulus or through changing consumer preferences and changing consumer behavior, we've seen a remarkable increase in our deposit balances, and that's across our footprint of both Canadian banking and international banking. That's led to remarkable consumer liquidity, as we talked about. So those changes in our provisions are very strongly driven by that changing consumer behavior, which has resulted in lower delinquency, lower earning, we see better recovery, which has driven improvement on the provisions basis and business mix. That's been a very, very strong driver in that outcome and ultimately, of course, translating through it on a cash basis to those lower write-offs. So that, we think, is with us for quite some time. If we look at the excess deposit balances in Canada, they've built up through a mixture of measures over the course of pandemic. And if we see spending go back to pre-COVID levels, the Canadian consumer on our balance sheet has two years of additional liquidity. That gives us a lot of content in our outlook from here. Dan, any additional comments?[/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. You bet.[/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 just simply said, Bill, you're thinking about the right way, right? I think that you know, we're very disciplined in that we look at almost every trade. But you really have to step back and look at the overall balance sheet. You know, we're below $7 billion in -- in securities, right? And so at some point, you're really only going to go so low. But if you compare that to when you make that decision and think on average where the tenure has been, not today but where it has been, we're really happy with our -- our decision. But at the same time, you're totally right, like you got to look at it as a portfolio and we -- and we do believe, and we're getting more and more evidence particularly as new programs come in life and, you know, the infrastructure, Bill, that we're talking about next, right? It gives us some sense that the risk is lowering that, you know, and that the cash may be around a lot -- a lot a little bit longer. So -- so we'll have to look at that -- that overall portfolio and realize how small can the -- can the of securities portfolio get.[/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>> Good morning. Just wanted to follow up on clean energy and the growth there. Just curious. What should be the lead time on the bookings turning to growth? Because I would have thought that -- with the bookings being up so much year-over-year for three quarters now, that you'd have organic growth there, but it seems like the organic growth is still negative. So I know you mentioned like COVID-19 impact. I don't know how much of that was driving an organic decline or if it's some of the supply chain stuff, but what should the lead time be in when could that segment turn to organic growth?[/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>> Thanks, John.[/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 generally, our higher margin piece, Paretosh, are growing faster than the lower margin pieces. So we do have a nice mix phenomenon there. Certainly, electronics, new energy and then auto electronics are three of the areas where we see more fundamental growth that is both organically gaining share as well as underlying markets. So there's a positive mix dynamic long-term.[/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.[/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 correct, Kevin.[/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>> John, do you want to handle 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>> Dan, why don't just spend a moment just outlining the three or four different types of contracts on your program side that you typically get involved in?[/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 Jim, we're actually not hearing a whole lot right now in terms of any significant changes from what's happened here in December. We're going to stay tuned, obviously, it's pretty important but it just tells you the nature of this virus. It seems like sometimes we might have it under control, and then all of a sudden we get these spikes, and it can influence the ability to perform procedures and treat these patients. You know, some of the things that we have heard are that, certain regions of the country tend to be more impacted than others. I guess, like the rest of the world, we're all waiting to see kind of the effect of the vaccinations and how it can help economies recover, and as well as, allow patients to seek treatment and then be in a position to be treated by their physicians in the proper care setting. So we'll be talking more about this, unfortunately, I think as we go through the year.[/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>> This is Michael on for Colby. Two questions, if I may. If I'm not mistaken, last quarter, you said that you expected revenue and gross margins to be flat quarter-over-quarter. In this quarter, we saw a sequential decline. So my question is, I mean, as it stands, how would you describe your visibility into the business and into your guidance? And then secondly, related to the software downloads, if I'm not mistaken, I believe in 2019, the company backed away from doing software downloads, and I think the reason was because it was unprofitable. Just wondering what's changed in that area and why you're pivoting to pursue that now? 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>> 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>> All right. 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>> Thanks, Chris.[/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>> In the U.S., the answer is yes. In the U.K., the data lags a little bit, so not ready to call that yet. We have a hypothesis that we are, but I don't have data yet to support that. In Canada, obviously, the reopening is not in a place where we can determine that yet. But in our biggest market, the answer to that is yes, Lauren.[/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>> What we did see after the first quarter, Craig -- and it's a good question. We did see the hesitancy in the markets to understand where inflation was going, caused the interest rates to spike slightly for a couple of months. And of course, now they're back down again in record lows. But a large part of Timios' revenue is from the refinance business or refi business, as we like to call it. So they did start to see some slowdown in that because that is a very interest rate-driven business. People are obviously looking to cut their rate and cut their payment or get cash out of that for their home without increasing that rate. So we did see some -- a little bit of softening there. It seems to have recovered fully in the meantime. But that is an interest rate-driven business. Because that's the majority of their revenues, the refi business, we've really encouraged them to invest in the mortgage home purchase business and also develop their appraisal business and the default business as well. And as Kristen mentioned in our comments, the default business and the appraisal business are quite starting to grow quite quickly. So we anticipate bringing in those diverse revenue streams, so it's not so dependent on refi but it should allow the business to continue to grow its revenue base. And we'll always keep the business profitable. It has the ability to contract and expand along with the economy. So we wouldn't envision a situation where Timios wasn't profitable. But certainly, with historically low rates now, we would expect to continue to see them to continue to develop their revenue, as I said. I don't know if you have any further comments, Kristen.[/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, I think it all comes back, Mihir, as you pointed out, to rebuilding growth momentum. And so, that's a function of watch our success in bringing new customers into the franchise and in putting new products into the hands of our existing customers, and we'll talk about that every quarter. Watch our success on some of the longer-term things that Steve talked about, how we're doing with China, how we're doing with the Kabbage acquisition. Watch externally what's happening with credit and what's happening with the recovery in T&E spending. And those are the key things that I think you want to watch, and it's what we're managing the company for and what we'll give you an update on each quarter.[/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,re welcome.[/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, Durgesh. Durgesh, thanks. The reason we went to just a three-year average view here is that, over five years, the numbers get pretty big. And maybe a little bit more difficult to bridge from where we are now and where we were in '20, but -- you probably are reading too much into it. We have elsewhere, of course, disclosed our equity financing plan through the end of the period on the next slide. So you can see that the financing is going to continue. What will change is the operating cash flow which will grow on a five-year basis and the investing cash flow which will grow slightly as it increased a little bit back dated in the five-year plan. But nothing more interesting than that, I'd say.[/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 it's $30 million and Scott said in his prepared comments, and I would describe the same type of margin as we get in Restoration across the board the 10%-ish.[/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>> Yes, Wes, we've been very consistent. We -- as I mentioned in my remarks, we have about $2.4 billion of equity sitting in the forward. So that's -- and then we will go out to the debt markets later in the fall, unsecured high-yield markets to get to the remaining $1.6 billion, $1.7 billion of proceeds to fund our $4 billion commitment for the Venetian. And our 10-year paper or 10-year quotes we've gotten recently is sub-4, kind of 3.5% to 4% range. Obviously, that bounces around a little bit with the markets, but we still feel very confident of our underwriting and the accretion we'll achieve from that 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>> Yeah, I mean, we love all of our clients and all of our prospects, but we have margin threshold that we need to make sure that we hit. And so when we're bringing on clients now, we are still around the average we've been. We're seeing some larger ones now, the three I mentioned is, the largest one in the quarter was about $26 million. And we brought that one out of one of our California branches but we're getting those bigger looks that we didn't get call it 2 years ago when we didn't have the all states footprint and we didn't have the technology. So the larger clients are coming in, our referral partners know that we can do the larger business that we can handle it, that the clients appreciate our IT. So that's no longer an obstacle that we have to try to sell again. So larger clients -- if the referral partners are listed and we're open for business, and you can send it to us. And then if I think of the funnel, California is a large portion of our portfolio and California specifically is where we are seeing the slowness coming out of the pandemic, and primarily it was the most restrictive of all states and it has been opened up the way other states has and we're still seeing that in our deal flow. The deal flow is getting better every month, getting better every quarter, but we're not better than pre-pandemic levels yet.[/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, thank you, good morning.[/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. Thank you, Dan. So overall, we've made tremendous progress throughout this fiscal year in streamlining our product offerings to increase the throughput. As a matter of fact, probably, I would say in the next quarter or two, we'll probably readjusting our capacity utilization numbers overall, just because I think with the refined product offerings, we've actually de-bottlenecked some things to increase our overall end-capacity, at the end of the day. So I think the team has made tremendous progress on that during this fiscal year and especially during the quarter. But really it's in large part, just to be frank, in terms of the production increases, just fantastic innovation and drive at the plant level in people figuring out solutions and how to operate in these challenging conditions. So I think the team has worked well. There is a lot of cross collaboration between the plants, between functions to problem solved very quickly and to identify issues hopefully before they happen and to correct them. So we don't run into trouble. So I think, it's the benefit of having a great team, and also to streamline product offerings, it's going to overall increase our overall utilization and raise the bar in the future.[/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>> Great. Thanks, Ben, for the question. Chuck, do you want to come with some closing remarks, or I can close it up?[/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>> You're welcome.[/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, Ronny. Good morning.[/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>> Very good question. By the way, I don't think that we ever expected the oral in Q3. I'm not sure if something like that was ever said. I think, we were always expecting it in the Q4. And still, this is a very big chance that this will be the expectation. We give a range of Q4 to Q1 of next year. But still, this is the expectation that there's very highly chance that we will have it by the end of the year. Again, things are moving nicely in all three studies of the oral. But sometimes, you need to stop and wait for the data to speak for themselves. So that's our attitude. We are preparing for it. We are manufacturing. And we will be ready if, hopefully, the data are positive. Now about our obesity drug, Mikael, can you take this question?[/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'll start Pete with its evolving. And I know this industry and I've been in it and around in studying it for so long and so, and we've got a lot of folks out there is some who we know we're getting phone calls like I just mentioned, I think there's several ways that it can go. I think fundamentally for us, we are not in the business of signing up for something that we don't feel is aligned with our strategy. We make precision things. We're moving toward higher margin businesses. And so when you think about that type of level manufacturing was providing parts to those eVTOL folks or it's actually having levels of manufacturing or assembly. I think that can be a very robust part of our business and because it's such. I think in the next, quite frankly 20 years or so, you're going to see this eVTOL take real life and real form as you said, there's a lot of players out there, we're actually talking to some of the ones that we feel are going to be the winners. But it's still early to say. And I think it's important to make sure that whatever we do, it fits nicely in our strategy and where we're trying to go as a company and I think not to bridge into eVTOL is a very unique application, but it's really about the urban mobility movement and then kind of bridges in toward this autonomous capability, which is something that we are absolutely directly investing in and involved in and we feel really strongly that we've got some future there.[/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>> Good afternoon, and thanks for taking my question. Hey, Thomas, wondered if you could speak to just the hiring environment. You know, it's historically certainly been difficult for applicants to secure opportunities at C3. And so could you speak to are you able to scale the organization the way you want to in terms of, you know, finding the right types of people to go about the organization these days?[/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 the industry is -- TSMC has announced a number of investments in mature technologies and this is really 28-nanometer and above. So, this is -- it's not the 3-nanometer and 5-nanometer and 7 nanometer at the advanced nodes. But what's happened is that a lot of the -- in addition to strong demand, we've also had the focus of all the capex into the advanced nodes. And then because Moore's Law is pushing the limits here, a lot of, a lot of products have gotten left behind in the n minus 1, n minus 2, n minus 3 nodes. And so that has also filled up the mainstream technologies. Right now, it's safe to assume that for the remainder of the year we are going to be in a supply constrained situation. There is incremental improvements that can be had, but it takes a little while to get other sources of supply qualified and certainly to the extent that we have to build new fabs and mainstream, which is not the way it used to work, it used to be that they would focus on advanced nodes and the mainstream nodes would empty out, but we're getting into a situation where the demand for semiconductors is exceeding that model and the slowing pace of Moore's Law migration is adding to that. So, it's -- I believe that this will persist into 2022, but certainly for the remainder of the year, we're going to be in a supply chain constrained situation.[/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'll start and then Mike can give you a little of the statistics. So the asset is open and operating. It's doing great particularly on the retail side, great sales. The assets are over 75% leased at this point, and so our partners are evaluating right now the best method of maximizing their profits, and that may be a sale sometime in the back half of 2022. In which case, most probably our loan would be outstanding until then. And the other way they might go is to refinance and partially pay us off in order to buy more time to get more stabilization and particularly some trailing data on the parking garage there, which is a huge moneymaker and a big part of the story. So we suspect that they'll make that call over the next 60 days or so, and then we'll be better able to forecast what it looks like. As you know, we really can't meaningfully resize that mezzanine program until that loan comes out of it, but our expectation is, one way or another, it's going to be significantly shrunk, if not all the way paid off sometime in 2022.[/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>> It's definitely commanding more investment dollars, so there is no question about it. We have improved our e-commerce experience, I think meaningfully. But we also have a long way to go and we have product information, systems that are coming online here as part of this investment that we've been talking about that are going to improve that web experience in that e-commerce experience even more for our customers. The other part is training and driving our customers to that portal. So what I'm going to call the -- the everyday buys. Our objective in this is one, we think it will increase sales overall and make for a better experience for our customers of ADI. But our real objective is also to free up our sales associates to be able to be consultative with our customers, and really take the -- order taking, I'd say clerical, with sort of the process pieces of the job out of their hands, move it to the web, move it to an e-commerce experience that is valuable and productive for our customers, such that our sales associates today we get tremendous performance out of can be more concentrated with the customers when they're in the branches.[/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, it's a good mix as we've talked about in prior quarters. The multi-family business, the repeat customer business within that asset class has been going really well and we continue to add to that with new clients. Selectively, we're looking at hospitality and office assets within our pipeline, so if they fit our metrics and our profile, and as we see those markets start to open up and assets actually trade, we will start to continue to see some additional hospitality and office assets to supplement the multifamily business.[/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. Actually, obviously the tool we ship into the China facility or China fab right there fab, is good starting point. This way, our process data, process capability validate by their fab in China. Right [Indecipherable] potential a quarter getting their fab also, I mean in China, right and so that's we're looking for. So I think it's really good assigned and also a good starting point and those data come out there I think in China may need a driving force and [Indecipherable].[/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>> [Speech Overlap] multi-myeloma.[/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. Thanks Vijay. So your math is correct, to answer your first question. And it is assuming high single digits in the second half. I don't think there's anything to read into here. As Prahlad mentioned and I mentioned in my prepared remarks that orders are strong, they continue to be strong. The high single digits versus a little bit of an easier comparison in the second half, not much to read into there. It's just a little further out. So we are probably a little bit more conservative in the second half. But overall, still feel very confident in the 11%-plus here.[/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>> 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>> Hi. Good morning. I wanted to just maybe build a little bit on the prior questions in terms of just federal legislation supporting renewable energy in a number of ways. And both, I guess, I'm thinking specifically in North Carolina as well as Indiana. Indiana, to your point, you have a resource filing by the end of this month. And then in North Carolina, though, it does feel like the sort of deliberation around the cadence of decarbonization is going to flow well into 2022. And to the extent that this legislation does pass, does -- as you know, it extends support for solar and wind, provides support for storage, how might that impact kind of the thinking, not just for you but for other stakeholders, in both of those states?[/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 very much, Ken. I really appreciate it.[/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>> Crystal?[/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>> In the first quarter, I think we were more or less discussed this question before, right? Because there were some sectors that were kind of helping, right, we're coming into the low business sector at the end of Q1 that will continue and accelerate as you may expect in the second quarter, right, because I think we are kind of consistently seeing our double-digit growth numbers in the back of very low base last year. There are some say kind of features in the market that are -- we believe that may not -- the met change over time especially kind of candidate behavior at the moment. There are maybe too relaxed and they may be kind of more active in the -- with the kind of high confidence over time. But what drives at the moment the kind of the market is a demographic situation. And we don't see how this can be really resolved in a short pace. So from that perspective, I think that growth driver will just remain for quite a long time. And also monetization, obviously, was a really strong factor. And in our numbers, you see very limited impact from our last year change of subscription model, right, because as I said most of the clients already migrated to new subscriptions, but they're still using kind of the packages that are included in the basis of. So in April, for example, we saw that the review from these contacts they kind of exceeded the revenue for the preceding three months. So that effect will accelerate I would say the fourth. It's a very strong environment for monetization improvement. And so we believe that may even enhance from current level over time.[/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, Rick.[/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>> Good morning, guys. 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>> Thank you, Curt.[/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 don't know if I have a good answer to that. We're pretty happy with the way things are moving. Maybe the market is not moving quite as quickly as we like on the term market. But other than that, the company is in good shape. We're certainly in -- our balance sheet is strong. Our operations are running well, when we're not threatened by COVID or forest fires. And we're optimistic for the future. So I don't know. Of course, we worry about lots of things all the time. That's our job, but nothing in particular.[/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 that is pure mix. The mix of homes, where we'll have lower ASPs this year. Our percentage of attached homes and our mix is higher this year than it was last year. Again, thinking ahead to affordability, we're just trying to, in each market we're in, target the right price points for the buyer pool. And so it's not reflective of pricing, it's just pure mix of types of homes we're selling.[/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, we -- first on shareholder returns, we believe when we execute well, we perform well, we believe it will be rewarded in our share price. We're focused on, again, making sure that we have the best for all and that doesn't mean getting bigger that's capability. And so we want to make sure that our best assets are the winner, winners and that's where we're going to put our money to transition to those things that perform the best for the company. And so don't be looking for us to add a bunch of capacity, look for us to build capability for profitable growth. This business is in transition, best of both becomes best for all.[/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.[/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 Derik, academic and government had a very good quarter, 35% growth. That's exciting. As you think about academic and government, obviously, it's one of those segments of the four end markets we serve that was very effective last year, right, in 2020 because of the pandemic in the second quarter. That's really the place you saw it the most. So what you're seeing now is that, largely, activity has returned back to normal around the world. I mean it might be different, but actually, the activity level is pretty normal. And what I'm encouraged about is two things. One is widespread in terms of the performance across our businesses, biosciences, research and safety market channel. That talks about activity is very high. And electron microscopy, really excellent funding, so it talks about sort of the big capital funding there also is strong. And then when you look going forward, that really does look good because there's so much positive talk around the world about the funding.[/INST] Prediction (one of UP, DOWN, SAME): SAME