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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>>
Without the forward equity, we are going to be at low 5 times. I think with the forward equity, we will be below.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
Sure. Happy to answer that. So what we said specifically is that as expected, we are getting back into a better in-stock position on the majority of our products in Q2, but there are three products, Arc, Amp and Move, which will likely continue to be out of stock into Q3. That's because we continue to see really excellent demand for those products in our booking to keep up there.
That is really sort of a challenge that we've had ongoing for the last couple of quarters as we've been chasing supply. And we have and continue to be very pleasantly surprised by how willing our customers have been to wait for their products to come in. I think you can probably see it. We're getting back in stock now, so it's a little bit less obvious, but the shipping times and the lead times on some of those products and then the fact that we are still absolutely beating revenue forecast, I think, combine to paint a picture of just how willing people have been to wait for our products.
And that's really because they are fantastic products. And when you are part of the Sonos system, it's worth waiting for a product that works inside your Sonos system. So you're seeing the loyalty of our customers and the benefit of that system and that's what Patrick talks about.[/INST]
Prediction (one of UP, DOWN, SAME): UP
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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>>
So as I mentioned, we stood that machine up really under budget and faster than we anticipated. And we're running at greater than kind of business case OEEs far in advance of what the expectation was. And it's why I have the confidence that I do in our execution here on the second and third line.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
I would imagine that's certainly part of it. I think the overall dimension of the value add in terms of the IP relationship as we try to outserve to give our customers the best overall value prop in terms of both the performance of the products we supply them, the service we delivered put around those, and it's not just the delivery service, it's service those businesses where we have service positions like food equipment. And so I think in all of that, I think all of our customers are well aware of their raw material environment. So I think from the standpoint of overall value delivery, our value to them, to the environment that we're in and the fact that we're just trying to recover on a dollar for dollar, we're not trying to get the margin back. I think, as we said before, because we're interested in and expanding our relationships with those customers, I think all of that speaks to the fact that we've been able to recover dollar for dollar.[/INST]
Prediction (one of UP, DOWN, SAME): UP
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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>>
Hey, good morning.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>>
Hi, good morning, guys.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
We're in growth mode, right. So we have retained all of the originations this year.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
Thank you.[/INST]
Prediction (one of UP, DOWN, SAME): UP
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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>>
Hey, good morning everybody. George, maybe from a high level perspective, wanted to start with you. Obviously, the reason to sell the assets is to pay off the debt. But from a strategic perspective, I'm curious about selling as we talked last quarter, maybe a lack of a commitment in the future to Minneapolis, which is a core market, selling down quite a bit in Atlanta. So how do you balance selling what you think is achieve fair value with also selling your strategic assets that you guys have laid out is kind of a five-market strategy. How do you balance that and how do you kind of backfill that over time?[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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. Obviously, it's a great business already. I think we're three or four years of consecutive acceleration in that business. We have Alberto Mas on the line. Maybe, Alberto, if you could just comment on when do we start seeing some of that capacity benefit to business and where that stand?[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
Hey, Paul, it's Pierre. I'll start with your first question. I think we'll take some of it off-line with Wayne and the IR team in terms of production from the various basins. Our federal acreage, as you said, in the Permian, is less than 10%.
It went down a little bit through the Noble acquisition. We're not going to disclose the activity for the last year and how much was the mix. I think you can find it's publicly available data, and you can chase that down. In terms of the Gulf of Mexico, I think it's well-known that permits tend to -- you don't -- you have a lower inventory of permits.
So if we have a bigger inventory of permits in the Permian Basin, we and other operators do, that's not the case in the Gulf of Mexico. So those permits tend to be a lower inventory. I will just point out that we have one floating rig on a long-term contract in the Gulf of Mexico that expires at the end of the year. So we'll, again, take your rather detailed questions off-line.
And then, Mike, do you want to answer the energy transition?[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
You're welcome.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
Thank you, Kevin.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
Yes. Actually, I think you did a pretty good job of summarizing it. Wright will definitely come in and be accretive to our gross margin as those products generally have a higher gross margin than sort of the average of our other business. I also think to as you look at business mix, that will normalize as the year goes forward and so we'll also see kind of those higher-margin orthopaedics products becoming a bigger share of the total. And I think, we'll largely come back to sort of what our view as sort of normalized margins as you look at 2019. Conversely though, just as a reminder, moving down to op-margin, you are going to see that discretionary spending look up as we support growth and so that will likely go the other way and we'll be on a ramp largely as sales ramp throughout the year.[/INST]
Prediction (one of UP, DOWN, SAME): DOWN
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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>>
Great. And thank you all for joining us today.[/INST]
Prediction (one of UP, DOWN, SAME): UP
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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. Once that's operational again, that'll flip up the NOI and out will be the miscellaneous income.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
So, no new asset classes in Q3. We alluded to this in our equity offering. We are pursuing some transactions in the life science space, which we think would be a great addition to our portfolio. We're looking at some healthcare assets as well, and which we currently don't have in our portfolio. And then, I would say for the more esoteric assets that you're describing, kind of in the casino space, I think for the right asset and the right location, we would, of course, take a look.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
We don't have that number yet because we are keeping that flexibilities to make sure that we can adapt our strategy to the current polysilicon price hike. That's why we keep that as a flexible part. But in general, we are still taking module as our main business, but partially of our shipments will be wafer or cell. It depends on the margin, on the spot market.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
Thank you. On your prepared remarks, you mentioned blended lease growth rate was 2.2% in January, you expect improving pricing trends this year. But then effective rental growth of 1.7% for the year. Assuming that these are apples-to-apples numbers, you're pretty close to it. Why will that effective rent growth for the year be higher?[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
Tom, I can't talk about the proportionality because I don't spend time at the other companies. But I don't think the ongoing earnings impacts in the Life Insurance business, I would describe as large. I mean really, for the best of my recollection, the big thing that's changing in the life insurance business is the pattern of how you amortize DAC and unearned revenue, right? We're going from a pattern that is driven by the emergence of profitability to a pattern that is more locked and loaded in terms of being more fixed. So Tom, that's not an area where I spent a lot of time thinking about very large impacts on earnings. There could be some impact, of course, but I don't see it as very large.[/INST]
Prediction (one of UP, DOWN, SAME): DOWN
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[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>>
Hi Faiza.[/INST]
Prediction (one of UP, DOWN, SAME): DOWN
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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>>
Question I wanted to focus on, utilization. Looking specifically in the Retail segment, we're estimating that maybe the impact of the HIF and the net increase in PYD this year are maybe about the same size. And so if I neutralize those out, your MLR on kind of apples-to-apples basis for the first quarter would have also been up about 100 basis points. Is that right? And then as you think across the balance of the year, how are you thinking about utilization coming back in terms of acuity? And then any permanency in terms of site of service shifts and things like that, that would impact intensity and medical costs as the year progresses. Thanks.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
David?[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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, Mark. It's Doug Brown here. And we're excited about Inivata, but we're not done. But we're going to integrate this for a little bit here. But things on our mind continue to be pharma and informatics. And I do think the valuations are challenging. And so we really got lucky with striking this deal in May of last year. And so that we continue to balance sort of our prudence and value and how we think about the M&A market with the valuations that are out there. So we're very pleased with what we announced today, but we're going to continue to look at opportunities in M&A.[/INST]
Prediction (one of UP, DOWN, SAME): DOWN
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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>>
So thank you, Craig. And it's OK, I do not feel like ignored at all. Our gross margin story has definitely been a highlight for us. And it's actually very pleasing to see these numbers playing out given the expectations that we've had for a while. If you recall in the past, we've talked about the growth drivers, right, of LoRa-enabled, the 10-gig PON, the PAM4 CDRs, broad-based protection devices. We talked about all of that coming with much higher gross margins than the corporate average. So it's nice to see that playing out. And that's essentially the story, right? Our gross margin expansion story is pretty simple, it is just that of mix.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
Sure. I mean, BAE has a global footprint. They already have units through Plug Power. And I think there's a huge -- and they have a huge sales network that not only includes the U.S., but globally.
We think they're a great partner.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
Sure. Bob is nodding his head. So I'll let Bob answer the second question. The first question is, we've completed the first manufacturing run for 819. We're currently doing product release testing on that batch that we manufactured. Obviously, getting to the point you're making and Bob will discuss, we think there's obviously continued opportunity for process improvements with respect to developing out really high quality alpha beta T cells. And we're working on some of those improvements in parallel in real-time, including under our collaborations with ONO and Janssen. And we have kicked off a second manufacturing run where we've implemented those improvements. And so we're continuing to do a little bit of work assessing the improvements and we've guided that we will enroll the first patient in the middle of this year.[/INST]
Prediction (one of UP, DOWN, SAME): DOWN
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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>>
I think the -- so first of all on the COVID test in terms -- in the context of our gross margin. To be honest, I think the costs are relatively low. We've been running our factories really much the same way we have in the past. I mean, obviously, you've got the cost of just disinfecting the factory more often. We've been paying for lots of kind of medical support, but I'm not sure it's big enough to really influence the margin.
I think in terms of the additional utilization, you're seeing the benefits of that as we go from Q2 to Q3. So our guidance, 56.3% in Q3 really shows our gross margin with our factories running full out. So as we kind of expand our revenue and go into 2022, you won't see increased utilization because we actually have to add capacity. We're running pretty much full out in Q3. So I still think 56% is I think is a great number for us, and we've gotten there quicker than we thought we would do.
And I think the answer to your question is still, 57% is still a couple of years away and is more around new product introduction. Mix helped us from Q2 into -- sort of Q1 into Q2, and that's why we did a little bit better in Q2. But the big impact from Q2 to Q3 is really the additional utilization and being able to run our factories, particularly the back end full out.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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, Mike.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
Good morning Amit, yes, I'll take the first part. So yes, I think 150 basis points into Q4 is probably still the right way to think about the deterioration. I mean we've got three less working days in the period. A couple of the working days you have around the holidays, they're light revenue days because some businesses are -- have a little different holiday schedule. And then you do get the normal kind of November to December freight and shipments per day. So those factors are all still there. So I think around 150 basis points, which has been the historic, is a good way to think about Q4.[/INST]
Prediction (one of UP, DOWN, SAME): UP
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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>>
Yes, yes. Well, first of all, I'll say that individually and even collectively, I would say that these challenges are not material to our results. In order of impact, it's probably impacting Harsco Rail the most. And then I would say Clean Earth and to a lesser extent, on Harsco Environmental. So I'd hesitate to quantify it. I would just again say that it's not material. And it's -- it is labor. As we mentioned, it's also inflation.
But in Rail, we have a very global supply chain. And many countries, as we all know, continue to be in the depths of the COVID pandemic and impacting their economies. So both on the supply chain side as well as on the revenue side in terms of bookings that we expected in parts of Asia and Latin America are just not happening. And we certainly view all of that to be temporary. We're hearing the right things from our potential customers and suppliers that this will pass, but it hasn't yet. So yes, it's holding us back. Again, I hesitate to quantify it, but again, it's not material.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
Well, the only thing I can tell you is that, from the vessels that we are currently discussing and negotiating above 4,000 TEU, we are discussing a four-year plus durations. The smaller ones will go between, let's say, probably two to three years. We're not looking really to just maximize the next 12 months. We wanted to have, let's say, greater visibility in our earnings although as I said, actually 2022, it's going to be a very lean year in terms of deliveries actually considerably less than 2021.
And then of course 2023 it's picking up. So let's say the shortage in the charter market is going to continue for some time.[/INST]
Prediction (one of UP, DOWN, SAME): DOWN
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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>>
You know that mine well, don't you, Mike?[/INST]
Prediction (one of UP, DOWN, SAME): DOWN
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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>>
No. No, this is all consistent with everything weve ever done with the NRC and 103G. Everything is consistent.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
Thank you all. Thanks for listening to our call and for your interest in our company. I would like to wish everyone a happy, healthy and safe holiday season, and best wishes for a New Year. Thank you all.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
Good morning.[/INST]
Prediction (one of UP, DOWN, SAME): UP
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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. So we believe that we'll have the interim analysis done in the first half, and the trials will probably now conclude in the second half of next year, Michael.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
We are having dialog and kind of broker-to-broker and head of real estate of WashREIT. The only thing tangible, Chris, that I think has happened in the last 90 to 120 plus days is just them executing. They are in three buildings, as you know, in Tysons outside of their main campus and them executing a short-term extension at one of the buildings. We are hearing that, that same type of activity may be coming our way, but that's obviously one, Chris, we've all got our eye on. But to date, we haven't -- have not traded paper since the beginning of the year.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
You are welcome, Yaron. Thank you.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
Yes. So Jeff, thank you for the question. What I would say is that we did have staffing challenges in centers and in-home, more pronounced on the in-home side because, obviously, there is much less leverage, right? It's one caregiver to one child in that format. And so certainly, on the in-home side, we felt more pressure in certain markets on certain peak days. That said, as we mentioned earlier, we are taking significant action to try to ameliorate some of those staffing challenges. But nonetheless, I would say it was more on the in-home side. We are expanding our network of in-home agencies. We're definitely putting more investment into CNS and those home caregivers that we employ directly and, so ultimately, feel like we are going to overcome those challenges in that way.[/INST]
Prediction (one of UP, DOWN, SAME): DOWN
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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>>
Thank you.[/INST]
Prediction (one of UP, DOWN, SAME): DOWN
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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>>
Yes. Obviously, I mean that will depend on any sort of end market change with obviously the strength on the residential side. So we'll have to see how that plays out. But across the business, that would be the organic pace we would expect to see.[/INST]
Prediction (one of UP, DOWN, SAME): UP
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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>>
I wouldn't say so. I mean, central nervous system continues to do very well, growing double digits but off a small base. And the COPD area is not as affected by the destocking as the allergic rhinitis but still lower than normal.[/INST]
Prediction (one of UP, DOWN, SAME): DOWN
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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>>
Thank you and thanks for taking the questions. First of all, congratulations on your quarter, and congratulations on Quincy. Regarding Quincy, you indicated that there are going to be $23 million in synergies. And I was wondering, can you break that up between revenue and cost synergies? And also, are you expecting that in your first year of operations? Or is this multiple years?[/INST]
Prediction (one of UP, DOWN, SAME): DOWN
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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>>
Good morning, Jon. Welcome down to the South from the cold north. How's -- I'm sure you're cold today?[/INST]
Prediction (one of UP, DOWN, SAME): DOWN
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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>>
So directionally -- it's a great question by the way. We talk about this obviously internally. We talk about it with you folks as well. And we believe that, yes, there's the macroeconomic tailwinds. We all acknowledge that they're there. We continue to sort of wait for the new normal to settle in, right? And we did see a little leveling off in the past few months. But you start off right here in Q4 and October is strong. Again, doesn't -- it's not showing any certain weakness at this point and it continues to be strong. And so our goal is to sort of what you're alluding to, is to continue to grow our premium footprint within our base, right, to keep our RPD up there.
As far as giving you an exact number of where we want it to be, no. I mean, we're not quite there yet, and we don't have the crystal ball on the macroeconomic environment and how deep that could affect us. As I've always said, though, I believe the new normal is above what it was in 2019 before the pandemic. I think when things settle in, it will remain above the 2019 numbers. And I'm not speaking industrywide. And again, focus on premium, focus on content, and that will help us keep strong RPD numbers on there.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
Thank you, Doug. And again, congratulations on your next step.[/INST]
Prediction (one of UP, DOWN, SAME): UP
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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>>
Well, I gave the number in the script at 786 customers. That's the number that we've focused on in the past, and that trended up as well this quarter.[/INST]
Prediction (one of UP, DOWN, SAME): DOWN
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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>>
Hey, guys, thanks for taking my questions. So I just actually wanted to follow-on to something that was said, Tony. You said it's improving every day, but at the same time, you seemed really cautious. So I'm just trying to make sure that -- to clarify that statement. I think you'd be one of the first people to kind of say that and I just wanted to make sure I understood it correctly.[/INST]
Prediction (one of UP, DOWN, SAME): UP
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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>>
Good morning, Adam.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
Of course, thank you. You too.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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 think that's for the most part. That was a very conscious thought and where the new facilities are going to be located, proximity, so that they could transfer to the new facilities from the old ones.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
Hey. Good morning, guys.[/INST]
Prediction (one of UP, DOWN, SAME): DOWN
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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>>
All right. I can give you a broad update which is that we continue to engage with the FDA, and we will be sharing with them the protocol. And we have ongoing positive dialogue, and we do hope that we will be enrolling patients in the U.S. in this study.
But I think that's about what I can say.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
Yes, on the linearity in the DSOs, we've always had I think good DSOs, we've always had good efforts there. They've never really gotten out of control and in any way there. So they've always been great now at, I think it was about 45 days or whatever. This quarter, it's not going to stay there, Rod, there was a really good linear quarter, if you look at past Q3's, it's just the way Q3s goal. It's just not going to be as linear now we'll do the best obviously and will go collect as much as we can and ship as linear as possible. But that's not going to continue like it was in Q2.
Now the early indications for Q3 is that linearity is, kind of, going as expected. So there is nothing out of bounds there, when we look at Q3 from that perspective. And I'm sorry, what was the second part of your question?[/INST]
Prediction (one of UP, DOWN, SAME): DOWN
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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 for taking the question. I'm going to try one I know you might not want to answer. With all of the different performances you're seeing now across your different segments, would you care to either share a little bit more margin color on segments or top and bottom quartiles? Just how far down the bottom have fallen or how well the top are holding up?[/INST]
Prediction (one of UP, DOWN, SAME): UP
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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>>
Well, how detailed, Barry, do you want to get with this? The fact that we have a lot of people working over time because we're shorthanded in certain places, whatever it is, it's that sort of thing. It's constructive. We met the challenge not only of not having sufficient product but in some cases, not having sufficient labor. I mean, we just did what we had to do. Is that going to continue quarters from now, the same circumstances? Who knows? I hope not.[/INST]
Prediction (one of UP, DOWN, SAME): UP
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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>>
OK. I will translate the question to the managers. [Foreign language][/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
Thank you.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
No. We see it continuing. As you described it's exactly right. And obviously, the Delaware is a little more oily than the Midland side of the basin, dependent upon where our overall volume growth could affect it a little bit but absolutely more gassy.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
Yes. Thank you very much. Can you elaborate on the increased investments you're going to have in the second half, especially in Q4? And to be clear, are you implicitly guiding for the non-GAAP operating margin to decline in Q4 from Q3 because of the increased investments?[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
Thank you very much.[/INST]
Prediction (one of UP, DOWN, SAME): UP
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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>>
Of course, yes. The vast majority of what we sold this quarter was the Complete package. I think that we're seeing just overall standardization on the Complete platform. People are opting for a Complete EDR package.
I think what I can also say on top of that is just increased adoption of our cloud modules. We're just seeing increased demand for cloud workload protection. And given that our platform is one of the best-of-breed platforms right now in the market, it's something that we're seeing more and more. On top of that, I'd add that with Complete, we also have about 10 expense story modules.
Data retention is one of them, and that is something that we're also seeing more and more adoption of. So, to kind of sum it up, I think Complete and EDR is becoming the standard for us going forward. And on top of that are the expansion modules that we're providing to the market.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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 would answer the question this way. Whoever [Indecipherable] other suppliers are communicating that's a real issue and they're absolutely right. They're not exaggerating. It is painful as the day is long. But it's the business, right. I mean it's not like the OEMs are out there saying, I think I'll just get up this morning and not run. They'd love to make vehicles if they had the product to do it. So it is a real issue. I can't really answer the question and I really don't want to answer the question specifically to what the individual negotiations are, but I did as I alluded to earlier in a question when I answered it was is that we're having different conversations with the customers now in a more holistic overall recovery mode than just pure commodities. We're talking about the whole landscape because it's just a different world out there as it relates to all the things we've talked about. Sea container delays and sea container cost and obviously labor inflation and the other things, and just sporadic schedules it certainly falls into the bucket of all those other things that we're talking to the customers about.[/INST]
Prediction (one of UP, DOWN, SAME): DOWN
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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>>
Yes, A.J. I'll have Randle pick up most of that. But I will say, our recruiting team has done a phenomenal job, and our rebook rates have actually improved since the, kind of the lower point in the middle of the year when, of course, demand dropped for a period, and so the increased demand. But also, I'd say the -- just the great work of our team in delivering so well during such a difficult environment, has helped improve our rebook rates. So we feel really quite good and confident about those. If anything, I think, that's really helped us to find ways to serve our clients and clinicians better and faster through digital capabilities and what not, and certainly, having more assignments that attract the compensation rates and what not, is helpful. But Randle, let me add to that, and then also, talk about applications which, I know, is a great story.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
It will be -- again, I hate to go out on a limb, because technology folks have -- and solution development folks have a great way of finding additional things to do. But I would say, it's -- the most comfortable I am in saying it'll clearly be below half of what it is now[/INST]
Prediction (one of UP, DOWN, SAME): DOWN
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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>>
So just to be clear, we are 100% focused on making sure that stage three gets commercialized as soon as possible. But as I talked about on previous calls, I mean, we literally have a virtual train of LNG that we need to sell and secure, which is what our midterm product offering is helping us do. So through our debottlenecking efforts and maintenance optimization, there was at least seven million tons of LNG, additional LNG coming off the portfolio that we're blessed to have, quite honestly. So that's, first and foremost, is making sure that we secure the existing nine trains worth of LNG before we go off and build stage three, another 11 million tons. But I don't know, Anatol or Zach, do you have anything to add?[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
How do you shift the partner we will add? OK, so -- [/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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, Allen.[/INST]
Prediction (one of UP, DOWN, SAME): DOWN
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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>>
Michael, let me kind of unpack both sides of that. On the semiconductor side, I'm not sure if you asked about that or life sciences, it is global. It's probably more focused in on the US for us right now. When I say US, US clients as well as agent clients that are building in the US. You're even seeing it in the stimulus bill with President Biden's efforts in order to increase that capacity here on US soil as global supply chains have been kind of rejiggered. And so we do see that having a positive effect on Jacobs. I don't know if it's necessarily six months. It's probably got a longer tail on that and eased through the next 12 to 24 months, but that's a strong trend. And it's both not only on the logic side but it's also on memory chips and some of the lower end chips that you're hearing from some of the automotive issues that are going around.
Online sciences, that is probably more global as it pertains to us, and that is the rebalancing of the product portfolio, all of this attention that's been placed on vaccines, specifically around the coronavirus. Great development that's happening within the oncology world. And as I said in the remarks, that's driving a real need for contract manufacturing, probably like nothing we've seen in history because of the volumes that are needed and the speed to market around these new therapies. So overall, really, really solid picture for at least the next couple of years.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
You're welcome.[/INST]
Prediction (one of UP, DOWN, SAME): DOWN
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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>>
So look, we've got a really strong plating business. We're well positioned in that industry. We look at a lot of different targets. Our plating portfolio is more focused on the consumer electronics as opposed to some of the more industrial applications that you may see from some of our plating competitors.
So just strategically, it wasn't as strong a fit for us as maybe some other folks in the industry.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
We really don't have guidance out there, but our ongoing assumption is that as we wind down the TSA, there will be a residual cost component that will flow through the remainder of 2021, where we're not collecting fees for some of those stranded costs. The bulk of what we have here, aside from human capital, is really IT related costs that are under various contracts. So there will be a lag. It's not one-for-one, but it's materially in that range.[/INST]
Prediction (one of UP, DOWN, SAME): UP
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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, Eric.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
Thank you, John.[/INST]
Prediction (one of UP, DOWN, SAME): DOWN
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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>>
So obviously, there will be more of depreciation expense of the facility. So as anything, as we run the facility, the absorption should more than offset, but initially the depreciation expense will obviously put the pressure on our gross margin. Nevertheless, as we have always been driving efficiencies to offset the headwinds in the past, we will continue to do so to make sure that we stay within our gross margin range.[/INST]
Prediction (one of UP, DOWN, SAME): UP
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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>>
Hello. Thank you. I wonder if we could further the conversation. Just a little bit around loan growth. As you look at your pipelines and your return of loan demand markets. I'm wondering if you're seeing any variation of demand returning in your metro markets, your more growth markets? And then also if you're seeing pipelines rebound quicker and the more rural markets?[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
Yes. Waqar, there was some healthcare workers that were striking down there blocking roads to the Vaca Muerta. So I think as of yesterday, those have stopped. So that kind of put a pause on a lot of activity down there, but hopefully, that gets up and running relatively soon.[/INST]
Prediction (one of UP, DOWN, SAME): DOWN
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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>>
Thank you.[/INST]
Prediction (one of UP, DOWN, SAME): UP
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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. So we have not really significantly changed our scope of what we plan to deliver for the conversion. We've taken the extra time really to run through additional mocks and dress rehearsals will be in play just to make sure that the client experience is what we want. Certainly, around the edges there's been a few, I'll call it, client experience opportunities, which we enhance, but for the most part we haven't really changed the scope of what we intended to do from a conversion perspective.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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 very much. Given that there has been so much supply volatility and volatility in demand, has your -- have your cost-cutting programs executed along the lines that you've expected or have many of the cost savings been deferred to next year? I understand prices are up a lot and you're making a lot of money, but in terms of the way that you've been trying to make your operations more efficient, are things delayed?[/INST]
Prediction (one of UP, DOWN, SAME): UP
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[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>>
Hi, good afternoon. Thanks for taking my question. Now your 28-nanometer is the biggest node in revenue. I would like to know how about the -- does that 28-nanometer is contributed to the upside to your total profit? And also for your 45-nanometer, the revenue actually continued declining from 3Q last year. And is there any empathy or idle capacity for 45-nanometer? Or are you convert this 45-nanometer capacity to 28-nanometer or others? That's my first question.[/INST]
Prediction (one of UP, DOWN, SAME): UP
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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>>
Well, thank you for that. I appreciate your saying that. I love to talk about true nitrogen and nicotine and mydrive aside because my own personal experience and the experience of my family and my friends, and my co workers has been fairly dramatic and remarkable. And I genuinely believe as do pretty much everybody who works at chromadex that when you Take two nights and you improve your ability to deal with physiological stress. And incidentally, incidentally, I take a certain amount of it every day, it's more than the recommended dose. But when I'm feeling some sort of physiological stress, I increase my dose and it seems to work as a way for to manage it. We have an excellent marketing department in earned media department.
And whenever they book an interview or a podcast, I am willing to do it. I think they have several upcoming and I look forward to do it and enjoy doing it. So yes, I believe that I will be out there more. That'd be great. If you could cover size, or I was going to interject with regard to the supply chain disruption, do the impact to COVID-19. You know that relative to about a million dollar shortfall in shipments, the Watsons in the first quarter. And looking at historical trends, we expect to see baseline demand of about 2.1 million, we expect the first quarter shortfall to ship over the next two quarters in addition to the baseline demand.[/INST]
Prediction (one of UP, DOWN, SAME): DOWN
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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>>
Yes. Thanks, Matt. I'll start with the answer to that question then turn it back over to Vivek because he really can provide the best sort of context for the US market.
But we are seeing beyond just the Red Cross, which is moving toward their 100% and really having a lot of success with their hospital or their key account discussions. But we are also seeing that translate to the other sort of four families of the big five, and a few of them moving sort of quickly like the Red Cross. So I think that's what we, I guess, would say was sort of unexpected starting the year. But Vivek, you want to provide a little more color?[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
Well, I mean -- I think it's the same drivers that I've mentioned earlier on the call and I'm happy to repeat them again. In high-performance computing the key segments for us today are cloud, federal and energy with oil and gas. I think -- and that's not exclusive, but those are the big three contributors for us in high-performance computing. In the embedded space, primarily federal plus, transportation and telecommunication. So for us the drivers continue our backlog is actually healthier going back -- going into Q3. And really the back half of the year looks very, very strong in that business, which is why we guided as such.
I think Ken referenced, and if he didn't reference, let me just clarify that, coming off a 30% sequential growth Q2 over Q1, we're continuing to forecast an increase in that business in the area of high-single digits, low double digits off of that quarter. So we remain very confident in the back half of the year in the top line growth for the intelligent solutions business.[/INST]
Prediction (one of UP, DOWN, SAME): UP
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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>>
Good. How are you, Ryan.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
Thank you. Good morning. Phil, I have another question for you on the LICAT ratio. And thanks for the additional color you provided on sort of how you calibrate your operating range. And that's where I want to ask a question on, to get a better understanding of that operating range changes for interest rate movement similar to the reported LICAT ratio. Or if that operating range is more of a sticky number? So i.e., will that gap between actual LICAT and operating range change with interest rate moves? Or will it be a little bit more consistent?[/INST]
Prediction (one of UP, DOWN, SAME): DOWN
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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, everyone, for joining us today. We'll look forward to visiting with you on our third quarter earnings call in late October.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
No, I think you should think about the timeline that's laid out, this is really more of a '22 activity when you'll see the utilities making decisions or final decisions around that.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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, Matt.[/INST]
Prediction (one of UP, DOWN, SAME): UP
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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>>
I -- yeah, go ahead, John.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
Thank you.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
Well, I think the first thing to start off with is China performed exceedingly well yet again, kind of the norm, we've come to expect out of China. But it's anything but normal. It was propelled in large part by the e-commerce channel, which has been a characteristic of that market for a few years now. We did see better trends than we had been seeing certainly over the last part of 2020 in the physical stores. I wouldn't say it's fully recovered, but I think it's getting better, which is a good sign.
That all being said, I mean, e-commerce is going to continue to be the propellant behind growth in that marketplace. Overall, again, very healthy for us. We didn't see any negative ramifications from some of the other challenges brands saw in the period. We think we did an exceptionally good job and continuing to grow the brand in the marketplace and then adding the capabilities at the distribution center, which is our first company-owned distribution footprint in the market. That's gone really well. Given the challenges we face getting it up and running with COVID and the travel restrictions in market and we're very pleased with it. The point is that at the moment, but there's also plenty of opportunity to continue to improve. And we're eager to see that. Obviously we remain critically optimistic about China's long-term trends for our brand.[/INST]
Prediction (one of UP, DOWN, SAME): UP
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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>>
Good morning, Michael.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
Yes. So, if you look at our Q4 spending, which reflects a full quarter of Zonehaven, that was just under $7 million. So, annualizing that, it's 28. And we believe there'll be a couple of million dollars more investment in the year.[/INST]
Prediction (one of UP, DOWN, SAME): DOWN
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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>>
Hey good morning.[/INST]
Prediction (one of UP, DOWN, SAME): UP
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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>>
Well, first of all, we talk a lot about our Chinese design wins already. But for the Europe and U.S., we are not allowed to talk about, but I definitely think that's a focus area that we continue to work hard to make sure that we make progress there.[/INST]
Prediction (one of UP, DOWN, SAME): UP
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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>>
I couldn't get your question. Sorry, jean, could you repeat it please?[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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. So if you look at our past several years, Chinese New Year seasonality, certainly, the first quarter is the weakest quarter for us, not only for us, actually for the other -- most of the Chinese companies as well. First quarter because that's the Chinese New Year and basically, at least the two weeks, nobody is working, right? So basically, nobody is spending money. So that certainly will impact the demand for JG Alliance business.
For the other business because it's subscription-based, right? So it's a highly, highly stable, highly visible. But that said, overall, for the company as a whole, you should see certain magnitude of seasonality in the first quarter, i.e., there will be sequential revenue decline by a little bit in the first quarter.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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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>>
It does, Dave. We've talked about this before. As much as we'd like to deploy the money faster, we also can't tell our folks not to do their jobs on the other end. It's one of the things and one of the reasons we've more than double the size of our treasury team in the last few years, and it's paying dividends for us. And even with that, they come in with new relationships exciting. And the first thing Chris and I think about is how do we lend the money out.[/INST]
Prediction (one of UP, DOWN, SAME): SAME
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