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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>> Yeah. I mean, it's -- I got to tell you it's hard to measure the market growth against the recovery growth. For example, reproductive health is growing very fast right now. Now, I think some of that's to the extent there was an impact in COVID. Recall, that area was impacted the least in the COVID impact, now so there's a little bit of COVID recovery. I also think there's just general -- there's a lot of market growth there going from the number of women who are getting the service today and the number of women who'll get them in the future. We do see -- in terms of the fastest recovery slope, yes. Oncology, particularly on the risk -- the early risk side of things, a lot of the other pediatric and rare disorders, those are the most impacted, and those are the ones showing the steepest recovery at this point in time. Again, it's difficult to tease out exactly, but I think that's what's market growth versus what's recovery influence. But I think that's the best we can tell right now.[/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, Vebs.[/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, Steven. The 86% plus or minus 200 basis points for the year as reported. Obviously, as Mike just said, we've got some -- an assumption of COVID impact a little bit. But if we saw something really severe, of course, that we don't have a crystal ball and couldn't contemplate that. And then to your question about reported to adjusted, again, I don't know. We know what's happened in the first half of the year, but we think we've contemplated that in our guidance range that we're giving for the full rest of the year.[/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, it was about 50-50, so about 50% was rebalancing and 50% was lost clients and mainly in the managed volatility product that in terms of the future. I mean, they had positive gross sales during the quarter, but again back to the answer I gave to Owen, I think that if the value trade persists and their outperformance adds to that. I think that bodes well for their ability to capture not only assets flowing back to them via rebalancing. But also yeah, one in searches when firms who are our clients look to find value managers to hire.[/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 realistically it's both, but I would put the priority on navigating the supply chain challenges that are evolving by the day. So, well, I think if you do ask me, do I feel more comfortable now sitting here on -- in the middle of July than where we were when we talked in April, I think so, but that literally is evolving by the day and week, given the varied contributing factors here. It's not just one supply component. It's not just one supplier or -- it runs the full gamut. So I think the next six months is going to be all about navigating that. Now obviously with that comes the challenge of cost. Certainly, we've seen it from the copper perspective given what I've talked to, but its other cost categories as well, including resins and logistical costs and we're doing everything we can in the trenches every day to offset that. I think the last two quarters of margin performance speak to that. But we haven't absorbed through the P&L, the full high cost aspects of the copper peak or the recent increase in resin. So I think, while we're very optimistic about what the second half looks like, I think we're just being realistically cautious in this inflationary environment, when we haven't absorbed the peak through the P&L to just suggest that is not all sunshine and roses.[/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, Bill, I think is what we're seeing playing out over time here is that our customer base continues to increase quarter after quarter as far as who we're selling both aged and new distillate products to. So I think that's probably the signal that we see that gives us the most confidence that this business is becoming more stable, more repeatable, a little bit more predictable. So in past quarters, we talked that we thought we were seeing a spike in demand in this particular, in age, in particular, as a result of COVID. I still think that was contributed to some of the success we've seen. But each quarter, we also continue to pick up additional customers across all customer types. And I think to us, that's probably the best indicator of the demand for these products, a little bit adding more to the stability and predictability of these product lines. So I guess, and the short answer is we do think that this is a sustainable part of our business, and we have very good momentum as we go into 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>> Hey, guys. Just want to see if we could get some color on the quarterly capex cadence for '21? 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. We're seeing it globally. I think it's occurring all over the world. And certainly, with our American guests, it's really -- you can really see it. So it's across all of our 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>> So we don't guide gross margin by channel because our reportable segments are actually Americas, EMEA, and Asia. What I will say is that you just talked about inventory. One of our strategies is to run lean inventories and obviously, keep our consumer in stock on core, but running lean inventory supports good gross margins, and we don't expect to go backwards from a pricing perspective on in any of our channels. So we are really excited about the work we've done on gross margin, and we're focused on maintaining really high-level gross margins.[/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>> The biosimulation has been performing at a higher growth rate with a higher level of pre-sold work in that area.[/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 think that still in some areas definitely -- see folks who are a little more hesitant to come inside and eat. I think that continues across the country, you're seeing that. And that certainly helps us from a To-Go perspective continues to help that. I think you also maybe have folks, who added a senior rotating one more time than maybe what they normally did, because maybe they're OK eating in and they're OK getting To-Go. So, it's probably -- we don't have a lot of hard data on that or anything to point to that just would be my speculation.[/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. You know that, we've been relatively quiet. We continue to be very selective about this because valuations are in general for some properties are a little bit too high. So it -- this needs to be a perfect fit into our portfolio. And the perfect combination of things with Sojaprotein is in terms of the footprint, the complementarily of the geographic nature of it and the quality of management, and the assets and the products. In terms of what is easier to integrate, I think that sometimes bolt-ons are a little bit easier. We find they fit better in a business that is already structured. When you bring a large company you need more adjustments on both sides if you will, if you think about some of these companies that have continued to operate in ADM almost like with the same agility they were operating before, whether you say Protexin or Biopolis and some of these companies. So I think that the smaller companies are probably an easy tuck-in than maybe large companies. Large companies take us a little bit longer.[/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>> Jon, thanks for the question. And as it relates to Thighstop sales, we did extend to our brand partners an agreement to offer them royalty-free first $100 million in sales. And that was really done just to create excitement within the brand partner community and a lot of support for what we think is going to be a long-term win for the brand. And it plays a little bit into some of your other questions. But obviously, as Charlie mentioned earlier, selling more of the thigh product back half of the bird really helps us lean in and advance that long-term strategy we have for supply chain around whole birds. As it relates to the margin information we provided for the balance of the year, that does contemplate Thighstop sales mix and it won't be a material number if it mixes a significantly different number from where we are today, but it is contemplated there. And then lastly, I think we -- as we mentioned in our prepared remarks, we do expect to see the price of wings sustained through the balance of this year, hence, the updates to food costs and for 4-wall margins.[/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 bet. Thanks, Brad.[/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, Andrew, do you want to comment on that or --[/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, none is being -- so it's $3.6 million round numbers, $295,000 a month this year. And so -- but that's kind of baked into our numbers, though.[/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.[/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 that we've seen that, Jordan. I don't know that we've seen that at all. I expect some of them were trying to do something, but we haven't seen a whole lot of movement for the most part.[/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>> Excellent. Thanks for taking my question and cice job on the quarter. So what enabled you to outperform your expectations by this much given the reduction to Mirror -- I guess in the core business, what outperformed your expectations from the last time you gave revenue guidance versus where we are now and what's a pretty difficult environment out there given the supply chain headwinds?[/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. Steve, that's a good question. So the way realized losses are defined is that they are upon the earlier of when a loan is actually resolved or we believe it is near certain that this loss will be realized. So the $25 million that we just talked about, that is comprised -- the largest number there is our Quarry Springs loan, which was about a $14 million realized loss that occurred in the fourth quarter when we sold the last unit. And about $10 million is from the Pittsburgh [Phonetic] loan which was restructured, where we actually forgave some of the reserve and the loan is now performing. Those are the two examples.[/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. Yes.[/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. No, I would say we're definitely not losing share. In fact, I would say, based on the level of new closures and the very high retention rates that we are maintaining or improving share in large -- in large part. I think there are two phenomenon that are occurring that caused that variation, one of which is the geographic presence in Canada and our orientation in terms of the West Coast. As you know, the restrictions in California have been very strict and so that business has been slower to respond. So I think our geographic orientation has been part of the issue in terms of the comp as well as our focus on hospitality and linen in the hospitality sector both domestically and in Canada. So there are -- those two issues really account for the vast majority of the difference. And as we see the business, as we see restrictions ease, we can see the rate of sales and the rate of average weekly rental volumes tick up almost instantaneously. So as the state of California normalizes, we'll see significant improvement there. And Canada is the same way, there -- it's been very restrictive in Canada, so our business operations there are working very, very hard just to maintain the level of service and the sales that they have. So I would say those are the two reasons. And we do a very deep dive operating review in the business literally every month. And as we walk through the data, as we look through the data, those are the two areas that are evident to 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>> Yes. Good morning, guys.[/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, Eric. Good to hear your voice.[/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>> When we play into the beginning of the year, we had, we have different levers that we would pull of you can look and say, which projects and how fast might they move, how fast can we move on and shrink, where can we drive efficiencies and labor in our stores, and how quickly can we adjust to those types of activities. So what we're really doing is we're really pulling those levers that were available to us. We're not stopping progress on anything that is core to the strategy, but what we're really doing is being prudent throughout the P&L in terms of maintaining the gross margin gains from last year and in the way that we wanted to do, managing distribution costs and taking advantage of the fact that we have the two new DCs and taking transportation cost off the road, and then really working on our in-store productivity initiatives to be able to realize the savings that we need to keep the P&L strong.[/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, Vijay, this is Bob. I didn't get the last part of your question, maybe, inclisiran. Yes. So on the price, we do have built in roughly 1 point of price into our plan, which was slightly higher than what we had this year, Vijay. And in terms of inclisiran, we won't get into individual customer products, but what I would say is NASD is expecting another year of very strong growth.[/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, for me, anything that gets approved in Washington, first of all, what goes -- what bill goes in and what comes out is sometimes altered. So we'll see. But we think anything that gets approved that way will be positive for us. But it would have, I would say, a minimum of a 12 to 18-month delay before we saw anything come that way. Just things move so slow in Washington. And I would probably put that guidance out there. It's probably 12 to 18, from everyone I've talked to, months before we would see anything. And that's talking to some of our utility clients and others that are heavily involved in those conversations.[/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 question. And -- when you look at the new programs that we've put on in the fourth quarter, some of these programs are just starting now to produce. And so, I guess we could talk about that organic growth because they're already on the program are they part of the new programs. I guess I'd call them part of the new programs. Nope, I think organic growth is not going to be as high as the growth we are getting from new partners. I think that's what we're going to see, and of course, we -- one new program can make a big difference for us. So we're excited by 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>> Thank you, Lucas.[/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>> Or on the way. Or on the way.[/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): 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 think that's right, Michael. It's Peter here. As we think about it, being able to acquire all this and from a cash perspective, have it be essentially neutral or a push, we look at that as something that was quite attractive. When we think about though the actual FFO accretion as we go in next year, we are funding this as well with debt capacity. So that's one thing to just mention there. So there actually is a little bit of accretion as you think about earnings from this year as we head into next year.[/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 think looking here on the previous years that it will be a good reflection of where we are heading with our cost on sales and marketing. Obviously, as we are progressing with our Global Growth Acceleration Plan, more and more projects are coming to fruition, and we implemented them or executed them in the market. So, those [Indecipherable] new growth engines are coming also with some support behind them. But the pace of investment and the pace of launching those new projects will be entirely to our decision to see if the markets can accept those. And the benefits in our revenues and profits are coming in line with our expectations. So we will be dealing with S&M spend very much as we have done in the last two, three years, very close management of the spend and with a very good control on 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>> Definitely see a growing demand. I don't know that we've characterized what percentage of the business it is yet, Sharon, but I do see a growing demand. From a holiday point of view, we're not targeting the etail space as much, so a lot of the significant sales of those products are still going through our enterprise channels.[/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, OK. Yeah, Rich. Thank you for asking that because that has always been something that is near and dear to my heart. And there is always this tension as you mentioned between really putting your assets with the right operator, the right markets and certainly the best operators. And Atria has been that, Holiday has been a leading operator. So there is a tension between that and making sure you don't put all your eggs in one basket and you manage your concentration wisely. And so we do think that the combination of Atria and Holiday provides the strategic benefits to us and as an owner of Atria we like that, we like the growth in Atria platform. That having been said, I think we do have a lot of flexibility in the New Senior management contracts and our own Holiday contracts that gives us the ability through both growth and the way the management contracts are structured to move in the right direction on the diversification of manage your point.[/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, Kathleen. Thank you all for your interest in WillScot Mobile Mini. If you have additional questions after today's call, please contact me. 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. Take care.[/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. Thank you very much everyone for your time and attention today and if you have any follow-up questions, please reach out to myself or Investor Relations at gbrx.com. Have a great Tuesday.[/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, I think that is something that as you rightly say, Vivien, is not implemented anywhere today, and I think it's an idea that certainly would have to be investigated in all its dimension. I think that could have a number of impacts in term of illicit trade, in term of people smoking, actually more combustible product to get to the same kind of nicotine dose and of course, therefore with negative impact. So I think at that stage, frankly, it's too early to say whether this is something that could have the right intent. In any case, that would have to be coupled with very strong awareness, availability of better alternative and certainly, starting with heat-not-burn if we were to work, and that should be perceived as an incentive for people to quit smoking or to switch to this better alternative and certainly, heat-not-burn being the first one that could be perceived as a nice and satisfying alternative for smokers wanting to go for better product. So, I think that the idea is -- and it's not new, because I think the FDA had put the idea on the table already in 2017. I don't think that much work has been done so far on all the potential consequences. We believe that a lot of work would have to be done on the impact and the loss of scientific evidence would have to be gathered and studied on that. And in any case, for us, that would have to be coupled with a very strong awareness, availability and present that as an alternative for people who don't want to quit but want to keep consuming nicotine.[/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. Thanks very much. Good morning, guys. I had a couple of quick ones, if I could. The first one, I just wanted to clarify on the guidance. I think a year ago, there was like $8 million or $9 million of storm work. So I think Drew, you're seeing nominal contract revenues flat, so organically -- theoretically up a bit year-on-year. Is that the right way to think about those things?[/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 for taking the question. I've got a few. First, Adam, how long do you think it will take -- or can you get back to the adjusted EBITDA levels that you had in 2019, given that you have fewer screens and that there will be a shorter theatrical windows?[/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. Thanks, Stacy, for the question. Let's first focus in terms of our guidance for Q4. Our statements that we made were, yes, about driven by revenue growth from Data Center and Gaming sequentially. We can probably expect our Data Center to grow faster than our Gaming, probably both in terms of percentage wise and in absolute dollars. We also expect our CMP product to decline quarter-on-quarter to very negligible levels in Q4. So I hope that gives you a color on Q4. Now in terms of next year, we'll certainly turn the corner into the new fiscal year. We certainly provide guidance one quarter out. We've given you some great discussions here about the opportunities in front of us, opportunities with the hyperscales, the opportunities with the verticals. Omniverse is a full stack opportunity in front of us. We are securing supply for next year, not just for the current year and Q4, to allow us to really grow into so much of this opportunity going forward. But at this time, we're going to wait until next year to provide guidance.[/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, Matt. I don't know that we necessarily. I mean -- let me go back during the pandemic, I think we saw some lag with some of the more complex decides based upon -- procedures based upon the fact that there was healthcare scarcity, if you will. There were limited ICUs or limited hospital beds. And so there may have been a deferral of more complex cases that had a more acuity associated with them. That's -- that mix shift, I think, sort of evaporated for us earlier in the year, and we saw, although lower volumes, more consistency and more historical mix. That hasn't necessarily changed. So I don't necessarily look for more complex cases to come back into the SKU. There are seasonality, there is seasonality to our mix. Kids that are on break specifically in the Pet segment that are doing high-level deformity or early scoliosis cases happen in certain parts of the year, over the Christmas holiday or the end of the summer or beginning of the summer. Things like that are normal seasonality, and that's kind of what we're seeing. So I we'll keep a close eye on it, but I don't expect any massive mix shift or either detriment or benefit to an anomaly in the mix over the course 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>> Thank you. Thanks for taking the question. I think primarily for Chuck. Chuck, you've got -- done a great job getting the leverage down since the Finisar acquisition and that gives you a lot of flexibility. I'm just wondering, do you see a need to further consolidate the market, either be it for new platforms or certain end markets where you have better -- you can get greater -- greater benefits from scale compared to what you have today? Just want to get your thoughts on that. 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>> Thanks, Steven.[/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. Hi, Jeff, it's John. Typically, for suppliers in this part of the food chain critical subsystems, we tend to overperform during the ramps, and we tend to underperform when the ramps turn. And so that's really a question of when you think the ramp -- the thing will turn. And I know there's a lot of talk about people trying to call the peak right now, which we're not going to. I would say though that we're still very confident in our long-term model, as we talked about at Analyst Day which is our historic 200 basis points above WFE CAGR over the long term. And so that model is still very much intact.[/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's a little bit of that, but it's primarily the mix as I've stated. And again, it's not space by spreads.[/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, where we sit right now, we're fairly confident. But like we said, the rent support we've been giving to the small subset of operators has been constant for the past three quarters. And although there are labor pressures, some operators are able to pass-through rent increases that are helping that. The government has given more support as Wendy and Clint talked about. So where we sit right now, we're fairly confident. But the world is ever-changing, and there are a lot of unknown things that could crop up. So I'm sorry if I sound like I'm hedging my bet, but I just don't -- my crystal ball is very opaque right now. But where we sit right now with all of the knowns, fairly confident.[/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 that's pretty confidential, Doug. We would have to talk to you offline 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>> Thanks, Mike.[/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, it's Peter here. That's a good question. We actually have various situations. Generally speaking, we address our roll-offs along the lines of Graham has been mentioned, the strategic requirements of our customers. What you see in the market today is an ability to access longer-term durations against this high demand for tonnage. And that's exactly what we're doing. Nonetheless, dealing with our customers day in, day out, we're achieving multiyear charter periods.[/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 and good morning. So just going back to the acquisition questions. Are you finding that your bull's eye for the types of assets -- and investment-grade is probably not still at all the same, right? There's probably even a range within that. Are you having to move your bull's eye at all because of the competitive pressures, or are you still signing all the deals that are typically what you would want to own?[/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. Bill, in your prepared remarks, you talked about a number of renewals that you've done on the leasing side. Were those all '21 or were some of those '22 expirations? And then, can you talk about what the leasing spread was on those renewals?[/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. Hi, Stephan, Bob and Matt. So firstly, I want to touch basically a little bit on personal care. I think you mentioned that the core sales growth year on year was 2%. And if I remember correctly last year, you're still competing against. Well, you should have been competing this year against the destocking you saw? And I'm wondering if that 2% growth shows that there's a deceleration in personal care demand now?[/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 main driver is the former. And really, it's driven by I guess, Robert, the constant look at the portfolio and whether or not we can monetize assets at a superior value, as you've seen. I mean, I think the bigger picture we're generally happy with our asset mix, certainly, the commercial structure that underpins them. We have very little G&P exposure now. We see ample conventional runway in those businesses. And as I just went through, the businesses support our strategic actions to support the transition. We look at every possible opportunity to release value. I think we've proven that we'll take action. I think over the last three years, it's been about $9 billion of assets and with this latest one Noverco as well. So we'd certainly consider looking at other things if we received full -- more than full value for them. So it's going to be opportunistic. As Colin pointed out, the balance sheet is in very good shape. So it will be selective monetization to generate value where we can on a, I guess, a specific basis when we see those opportunities.[/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>> Because obviously, as we've always said, the revenue fluctuates based on pricing and our focus is to have delivered gross profit above general economic indices and as well as EBITDA.[/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 on an annualized basis, 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>> Sure. You bet, John. This is Randy. Right now, we are seeing anecdotal comments around sticker shock and somebody that maybe hasn't bought a Pivot for a year or two years, so there's some comments on sticker shocker. Some external market surveys talking about input costs on fertilizer and tractors and almost everything that our customers are buying today obviously have been impacted by inflation. But when you look at the return on investment of a piece of irrigation equipment, the payback generated right now fortunately we're seeing the linear trend in cost increases matched by the linear trend in commodity prices. So from an income perspective, the relative payback on a pivot hasn't moved significantly. So while there's still some sticker shock, we haven't seen customers exit the market at this point and we don't think that that will have a significant headwind impact on volume demand provided we continue to see strong farm income support.[/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, Ryan, what we've got is early information from a claims and revenue perspective. We're going to be getting a lot more information here in the next month or two. So I think it's really sort of better visibility on that, which would be the biggest driver that would drive it there. And then I think there's also just this seasonal progression that Tim talked about in his remarks, in which direct contracting will sort of follow the same path as MA, in which you see lower medical margin and therefore, obviously, lower overall EBITDA in the back half of the year.[/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>> Absolutely. We see a lot of opportunity for organic investment in that market. You recall a year ago, we announced the Unison deal. That was a meaningful investment. That's tracking right where we expected. There are other programs that we've announced since then and other things that are in the pipeline. Some of them require capital; some of them do not. But we are very excited about the position we occupy in the distribution space because unlike a couple of our larger competitors, at this point we've got a balance sheet that we can put to work and it's our core focus.[/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 first of all, in terms of the increase, we actually had the number of parts in the second quarter decrease in terms of what was available in the market but the prices were higher. So we were paying a higher premium on the open-market purchases in the second quarter as compared to the first. And so that is in line with what Jerome just mentioned. We see that diminishing as we go forward. On the surcharges that are the temporary increases that we are discussing with some of the suppliers, we do expect that we will recover most of that from our customers as we go forward here.[/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, look, I think, I'd love to be my own rating, I'd probably would rate as a little bit differently, we currently are, but they won't let me do those things. But certainly, I would argue that we do some rerating. As far as investment grade, I don't think there is any strategic reason why we need to be investment grade. So, but, certainly we think our current ratings just probably needs a little bit award.[/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, certainly. So we won't speak to any specific transactions individually. But what we would say is we have a domestic team in India, fully integrated, that conducts all our due diligence whenever we pursue acquisitions in that market. And up until the recent ramp-up, the recent escalation of COVID in that region, that team was actively doing due diligence and pursuing opportunities in that space. And we would very much expect them to restart those activities when they can be done on a safe basis. What I would say is, when it comes to us and our capital deployment strategy, we take a long-term view. These are long-term investments. These are long-term assets. Any disruption by COVID is not going to change our long-term view of the attractiveness of that market, but rather is only going to change our time lines because our priority in a situation like this one is the safety of our people. But I would say that the current COVID situation is not going to change our long-term ambitions in the country.[/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. I was wondering could you talk about -- you mentioned the loan pipelines are very strong. I'm just wondering can you talk about what you're hearing from your customers about making investments and versus kind of the appetite to drawdown on lines of credit versus using that excess liquidity and maybe delaying line drawdowns?[/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'm sorry, Mitch, say that one more time.[/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. Jeff, I really wanted to follow-up on the comments you just made. It seems like your inventories are tight in terms of units because of all these production complications. Do you have line of sight as to when you'll have your inventories and unit terms back where you want them? And what's the plan to offset these production difficulties?[/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, Alex. Appreciate it.[/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>> Hey, guys. Thanks for taking the question. Toby, you mentioned the importance of getting MVP online, just curious what's your view of supply versus takeaway is say in a couple years? In fact that pipe does not enter service, what that can mean for basic differentials, especially in the shoulder months? And how that would impact your strategy, if at 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>> 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>> Good morning. Sure. Go ahead, Stephen.[/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 another good question. Digital is absolutely being utilized within Newport News and building a CVN 80, and it'll -- it's preparing for utilization on the Columbia class. So it's absolutely an investment we're making. It's paying off the craft and the trades like the new product, and we're hoping for really great things to come from 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>> When you talk about normalization of demand, we had demand which was higher than expected especially late last year and early this year, when we see the demand in Brazil for the fourth quarter of last year and first two quarters of this year, until April, May, you had inventories being rebuilt in a change in consumption patterns that led to a higher demand across those three quarters. Now as we reach Q3, Q3 this year, we see lower demand than in Q2, our sales increased. As Rosana mentioned, we had a production shutdown. But our sales went up but the demand in the Brazilian market resumed what I'd call normal levels. It continues to grow, but at a lower pace, more fitting to what the market is used to. But if we have a demand disruption in Brazil, driven by some macroeconomic effect, we will have a curve of foreign exchange devaluation which could be beneficial for the company. Braskem is a company that improves significantly when there is foreign exchange deval, so we have a natural hedge vis-a-vis the political/economic conditions or situation in Brazil.[/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>> No. That's a good question. And Rich and Martin worked together, and Rich was kind of the architect behind this. So we'll let him take a crack at 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>> Hey, guys. Thank you for taking my question. Just a couple from me. The first is on the solar SolarWinds impact. You mentioning sort of the rising priority of VM. Can you maybe talk a little bit about for -- to -- for a meet, to what degree -- is it maybe starting to influence pipeline or perhaps getting brought up in customer conversations? And then I have a follow-up.[/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, it's a very fair question. I mean, the first thing we will have is -- or we expect to have is a fair amount of liquidity on our revolver post our redetermination. So that's one use of capital. And as we've shown in the past, we're not afraid to use equity to acquire assets. Really, at the end of the day, we're trying to analyze whether or not the acquisition is accretive to the intrinsic value per share for our shareholders. And so if we think it is, we're gonna do the deal. And if it's not, then we won't. And it's really kind of a relative value proposition there. So we are, again, not afraid to issue equity, but certainly think that at the moment, we are over equitized, and we're comfortable with a little bit more debt on the balance sheet probably just given that. As we stated in the press release, we anticipate year-end leverage at the end of 2021 to be sub-half a turn. And we would anticipate, assuming we do no new deals, being debt-free by Q3 of next year and then a net cash position. So we're in a really good spot, given our liquidity profile to execute on further incremental acquisitions.[/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>> No, I know, we're a little below guidance on LOE for the quarter. It can get a little bit lumpy at some -- sometimes they're just workover activity, etcetera. But no, we wouldn't expect any big tick-ups and we'll be back next quarter and that's one of those things that if it continues to trend this way, we'll probably just guidance down a little bit on LOE.[/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>> Just one question for me. Tom, last few quarters, the smaller markets have really outperformed your larger metros. Are you seeing notable -- the same notable in-migration trends in the Alabamas and Memphis, Greenville? Or is this just more of a factor of more supply hitting the larger metros a little harder?[/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. Look, Jason, we've always had transformational M&A in our strategy. We continue to look for opportunities that bring us a new capability or a new service in existing market or adjacencies. The team is doing an excellent job of delivering new product out of our engineering group. And you're seeing the results of that contribute to our accelerated revenue growth. Will we do additional M&A in the future? Absolutely. Things are expensive. Right now, we continue to see the intrinsic value of our stock is undervalued. And so obviously, we're very focused on share buybacks and deploying free cash flow in that manner, but we're not opposed to doing M&A activity if it fits our strategy and fills in a gap in our overall capability. Right now, we feel very good about our competitive position of product set. You're seeing it come through in our sales results. I mean, second quarter was the largest sales record for us across the board, across Capital Markets, across Banking, across Merchant. We hit record numbers for that from a sales and in an existing quarter. So we feel really good about the strength of our position and where we're -- the demand for our products and services in market, but M&A will always continue to be something that we evaluate and look at. And if it makes sense, then we'll execute.[/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>> Net EAC is year-over-year. Yes.[/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. Hey, good afternoon, everyone. Just when thinking about your price elasticity of demand. So recognizing the unit pressures you're talking about with inventory, can you just talk about maybe the opportunity or order of magnitude for potential pricing you see. And then Matt anyway just to parse out the change in wholesale performance this quarter between the undifferentiated partners and then the strategic partners that you're continuing to support? Thanks.[/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, sir.[/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. Yes, we anticipate that after the construction of other 18,000 5G base stations, it will achieve a population coverage rate of 90%. I'm sure if I answer your 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>> We see it as a means to execute on the strategy in a shorter distance. So in the case of VoiceBase and Tenfold, we get a technology acquisitions that will accelerate our going into the voice AI space. e-bot seven is more about we want more feet on the street and capacity in Europe, and we know it's a big market. So we keep looking at sort of those two continuums of technology and feet on the street. I wouldn't expect a giant acquisition. We don't need -- we built everything ourselves that we need, and we're filling in some of the pieces to accelerate our go-to-market, but we're not looking to do anything like a big step change in acquisitions, but we're using it to just accelerate what we already are doing organically..[/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, Jay.[/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>> Andrew, this is Ajay. Thank you for the question. I'll take that. Listen, before I answer that, I do want to note that we are not providing guidance for 2022 today. Now having said that, the environment remains incredibly dynamic. And as a company, we are focused on a couple of things. First, demand is strong, and we are doing everything possible to maintain supply to our customers and consumers. We have done that throughout last year and this year through COVID and through the dynamics here. And secondly, our pricing program is ramping up. As I noted in my prepared remarks, that's working. And third, Dylan outlined in his remarks that we are executing on our long-term strategies. And to answer your gross margin question specifically, if I look at these focus areas, they are all delivering for us, pricing, trade optimization, productivity, everything that we talked about when we went public, they're all coming through for us. So based on what we know today about inflation, about the environment, and all of these things delivering for us, I do believe that we will cover inflation and gross margins in '22 should not contract. I'll remind you that transportation costs are fluid and they are in SG&A for us. So again, we are talking about gross margins, and we are not providing guidance for next year at this point, but I do believe that they won't contract.[/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, everyone. Thanks for taking my questions. Two from us on YUPELRI. Just I assume that you are co-promoting the drug in various settings, I am wondering if the -- your guidance, your 2022 guidance sort of reflects or gives you flexibility to sort of potentially increase investment there or increase capital in that direction just potentially continue to drive sales whether it be expansion of sales force or something like that? And then secondly, more on -- and sorry, if I missed this earlier, but in the past, we have given some metrics around HEP interactions and in-person interactions, but just curious if those were up 3Q relative to 2Q? 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>> 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>> Sure. Why don't I start that. There are some improvements in ceding commissions, I would not say significant, at least in the portfolio that we write, call it, point-ish roughly in terms of how we look at the improvements there. The more significant improvement that we're seeing relative to margin expansion is really in the underlying business, maybe some terms as well, but for the most part, the lift we're seeing in the rate there.[/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, Alex, just to be clear, when we write it off, it means it's more probable than not -- it's less probable than not. Or did I say that right?[/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 think for '22, no. I think the focus is really going to be on ramping that up inside of our factory and getting all of that moving. And we've got quite a number of long-term agreements that we have with a variety of different semiconductor players. We've announced many of those. I think we've said previously that something like three quarters of our materials business is subject to these long-term agreements. We've expanded and extended one of them a while ago with ST. And then more recently, we've expanded and extended another one of these as well. So what I would say is the materials customers are really in a variety of different stages in terms of where they're at from an R&D perspective, where they're at from a ramp perspective. And so I think at this point, they're sort of absorbing the ramp at 150.[/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>> Sorry about the-are you talking-are you referring to the ovarian study?[/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 we manage our opex side there quite well during these times, but there have been additional costs on time-related to crew changes in a particular. So and these crew change stories are still a very big challenge for the industry. I think every shipowner has got crew that is staying on board longer than we originally normally planned or had to take some time and deviations into ports recruiting crew changes is possible. And depends on nationalities. So it's still a very very difficult task. And hats off to the guys we have at the -- are running are crewing. So there's marginal cost, but that's what you see Laila addressed. We have 7,800 year-to-date on our opex side and that includes all the overhead cost of the shore-based staff, as well related to the technical department essentially. So I think that's still a very good number.[/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. Good question, Jordan. It's mainly due to just lower occupancy in the building. So right now, we're seeing 140 basis points below -- we were 1,400 basis points below where we were pre-COVID on the occupancy front. So you've just got substantially lower number of residents in the building. So if you run a kind of historical churn levels, it obviously changes occupancy builds, and then move-outs start to kind of match historical levels. But as historical churn levels, you should be running at around 80% of kind of indexed historical levels of move-outs. If that gets elevated a bit, we've talked about this from a higher acuity resident moving in during COVID. That probably moves to mid to upper 80s. But that can stay, I think, pretty consistent through the recovery. It is tough looking at the last kind of 6 months ticking through what has been natural move-outs and what's been really -- certainly a spike we've seen from COVID in the December, January, February period. I think what you're starting to see in March is a return to that kind of 80% level that we would expect. Again, giving historical type of churn. But it's certainly something we're watching pretty closely. But from just a level of kind of the comment I made last quarter was from a level of occupancy in the buildings. That move-out percentage, getting back to historical levels of 2019 levels of move-ins, you can drive 80, 90 basis points a month in occupancy by just getting back there because the move-outs are going to be lower, purely mathematically based off the occupancy level.[/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, Casey.[/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>> Bob, he's so emotional about it he gets choked up, you have to forgive him.[/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>> This is Wayne. That's a good question. No, you heard it correctly. Those are single-site facilities that we have around $225 million in the pipeline under LOI currently. Obviously, we continue to look at more facilities than just that. We continue to look at platform assets. But at this point, under LOI, it's a single-site facility.[/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. Thanks, Dan. I think the raw material supply chain will probably be the largest short-term driver for the industry and specifically for us. As we look many of the supply are of our supply partners are dealing with production challenges themselves. So they're going out and putting allocations in place. So certain critical raw material supplies that we've got, they said, will give you an increase year-over-year. However, that increase year-over-year would mean a roughly a 20% reduction to where we were in the fourth quarter. So we've got a problem solved to either get substitute materials, which we're working through, but I think those supply chain allocations that were given on several components are going to create challenges as we work through the year. So if we can find substitute products and/or materials for some of those categories, then hopefully we can -- we can maintain certain levels of production. But it's really supply allocation that is the larger issue today. Other than just confronting the day-to-day challenges of short-term supply issues in two-part adhesives, PVC, fiberglass tubs, insulation. I think it's -- today it's a very volatile situation. The team has done an exceptional job managing through that, thus far. But I think the larger allocation issues will be the driver of volumes this 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>> Well, so there really -- there is no typical quarter, I think. We're pleased with the quarter. We're pleased with year to date. There's always going to be fluctuation quarter to quarter. If you think about Q3 flow-through, there are really three significant dynamics. The first is that we're anniversary-ing significant COVID-related compensation and benefits from last year. But recall that we reinvested a good bit of that in the form of permanent wage increases at the end of last year. The second dynamic is just the comparison between ticket and transaction comp. When ticket comp is higher than transaction because our payroll model is activity-based, you're going to see more leverage than when you see in the converse when transaction outpaces ticket. So we saw a leverage benefit there. And then finally, to a much lesser degree, as Craig said, we've hired a lot of people this year and feel great about how our stores are operating. We at the same time, probably could have seen staffing a little higher if we had, had our preference. And we'll continue to work on that.[/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>> No.[/INST] Prediction (one of UP, DOWN, SAME): DOWN