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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 could come from other areas of the portfolio. I mean, the financing of that asset in the capital markets is pretty efficient at this point. And again, I think Eric asked a good question. Currently, we have 1,400 homes, and we have a little bit under $100 million in equity. So when you think about our balance sheet expecting to end the quarter in Q3 at $1.3 billion to $1.5 billion of cash and liquidity, depending upon what we -- what our investments look like during the quarter, we think we got plenty of capital to continue to grow without the need of any additional capital. And again, the -- if we think about unsecured debt or the capital markets, to the extent that we need capital and it's a very large portfolio, then we would consider either a debt deal or a preferred deal or something like that.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Okay, Jeff. Good question. Your numbers are definitely in the right zone. I would do a couple of catalysts. Keep in mind that in the third quarter, we did execute our -- I'll say, 4.5% to 5% price increase. So we're delighted with that global execution. And as you look forward here with a surcharge, it's in this 5% zone. And then across the globe, the different price increases are in that same range. So that's what we're doing now. As Don noted earlier, the surcharges linked to these cost to serve increases, certainly, it's a dynamic environment as we go through the quarter here, if other things come to bear, we look at doing other price actions in the first quarter as well, where there could be a bit of a plus or minus to your point, if the cost of service environment improves. Right now, our mindset is that's not going to happen.[/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, we -- the big step was to select our engineering and construction partner. We did. That's Worley. So the FEE process is ongoing now, front-end engineering. So we're working that now. We expect to have FID early next year and start construction by the end of next year. So I don't see that there would be anything, barring some weird macro thing happen to us, that would change our schedule right now. Our teams are -- what they have done, our major projects team led by Ken Dillon, as -- along with Worley, they've put together a sub team that as the front-end engineering is happening, they're looking for ways to -- already ways to optimize the designs as they're in progress. And so I'm really excited that the first one, I believe, is going to be surprising to some people in terms of its design and how we're going to be able to build it. There are some things already in process around deciding how do you do this on a -- at a faster pace and on a larger scale as we go forward. Some of that work is in place. But I do expect that there's -- that we will begin construction at the end of next year. And I don't see anything in the way of stopping that 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>> Good morning, Bryan.[/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 mean you're right that ER volumes have rebounded pretty quickly and to the extent there is an analogy to draw between length of stay management, the low acuity work that comes into the ER, at least in our operations, in our emergency departments is handled in fast track settings, so that we minimize the intra-ER length of stay and costs and you got to -- I mean you have to accommodate that, right. I mean, I think we all knew that low acuity work would come back in the ER and the impact of it is dependent on two things, how much low acuity and what's the payer mix. And as that comes back into the fold and becomes a normal part of 2022, we're just going to have to deal with it and manage it and find offsets. I mean you're right that, that puts pressure on the revenue line, on a relative basis given the cost of staffing today.[/INST] Prediction (one of UP, DOWN, SAME): UP

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Thanks, Simeon.[/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 didn't. But thanks for the question. No, we haven't said that now. What I said is we will expect to invest against North American interactive 20% of our pre-tax free cash flow. And I see that in 2022, and I see that continuing into 2023. I think let us get the apps out the door, let us build into a little bit of market share, understand what our marketing dynamics are like and then we'll be in a much better position, probably toward the end of 2022 to give you a point of view on when we see this turning positive.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Hi, good morning everyone. Just a couple of questions. One is assuming that the commodities stay inflated for a little bit longer can you talk about the pace to which you'll be able to take pricing in each of your businesses? And even in the consumer business where is your pricing power? What's your revenue management opportunities there? Is it list pricing? What other levers do you have? I guess I take a little different perspective that I think commodities may stay a little bit higher for a little bit longer. Just kind of figuring out how you absorb 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>> Hi, Mark. It's Anant. The channel is fairly active. We've all adapted to this new way of working, which is largely remote. We're not actively in the market face-to-face. We're putting health first in that point of view in that channel. But it's functional. It's doing well. It's easier to sell SPDA also as a product when you don't have face-to-face interaction with a client, when you're not doing the way they go to market, a lot of them have seminars, dinners. But I would say, the channel activity is good. The IMO partners are helping the producers of the agents figure out how to sell. And more importantly, I think the kind of products we have, with the product refresh we are launching, IncomeShield, for example, got refreshed. That's doing well, and actually IncomeShield is one of the products that's reinsured to Brookfield. So it's good. We've got that working well. AssetShield with the revamp will make it a very simple, compelling proposition where [Indecipherable] accumulation can grow that. And then we have some additional product ideas in mind working with distribution that we think are going to pivot things forward. But no one knows what the new normal is of working, but it's working fine.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yes. I think it's way too early for us to think it could help the margins. We're pretty happy where our margins are right now. But it will be interesting, the push and pull of will we be able to keep some of this enhanced scheduling. In some cases, we will. Some cases, we won't. Will we be able to work swing shifts without a lot of pay differential? I think some of our folks have started to like that because they like not being on a crowded job site, and they like being more productive. And then they can put pressure back on their -- the union and others to help us do that. So I think it's too early to tell. I think there are some hard-wired things that we'll benefit from. Our folks have got better and better at planning just the things we control. And they've gotten better and better even on the smaller jobs of using prefabrication and trying to get the work off the site. So hopefully, we can keep productivity where it is. That's our plan, and maybe we can pick up a little bit.[/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. Well, Daniel, maybe we take a little bit of a backwards look before we think about forward. We think about 4Q, we had -- of the $223 million of growth we saw on the top line, about 21% of that is industry. 9% or about $47 million of that is the acquisitions that we have announced for the year. As you know, we had a couple of here hit in Q4 as well, and the balance of that becoming organic. As we think about January, going forward, it's certainly come out strong. And as you probably undoubtedly heard from some other folks, we expect to continue to see that strengthen here as we transition through Q1. But all things being equal, to your point, we have a pretty good comp against next year, and we expect to be up meaningfully against them.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Well, over the near term, it is what it is. And again, I think about a portfolio of airplanes, not just any one. And while we take all of the faceoffs that we go through in order and in those routes that you described for the 321, we -- I get it completely, so does our team. Broadly speaking and on balance across the portfolio, we like where our portfolio plays with the MAX at the lower end and the 87 at the higher end and very successful airplanes. So that just said -- all that means is we're going to take our time. I'm pretty sure you're in the right space, although I'm not going to point design today. I think you're pretty much in the right space with respect to where next development efforts lean. But I don't want to call it out just yet. And I'll go right back to the comment I made in the beginning. We are really progressing well on our engineering and manufacturing forward technology development so that we're ready when that moment comes to offer a really differentiated product. So I'm sure it's not a lot of rocket science for you to add up and guess where things end up. But we're not going to call out that point design. This isn't the moment. We're going to take a little time, and we don't feel significantly disadvantaged with our portfolio versus their portfolio. So anyway, that's how we think about it. And we are thinking long term, that's for sure.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yeah. So good morning, Frank, or good afternoon. We -- so, operating rates in the second half of the year for us in polyethylene were essentially unconstrained. We ran as much as we could. We had some unplanned downtime in Europe and the US, but we've essentially been running full since about July August timeframe. And we expect to do that for the foreseeable future. And yes, the volume growth was related to Hyperzone operating for part of the year. Your question about the supply side, on that chart on page 11, we have not put any delays in for Chinese capacity. So it's essentially -- we're assuming it's going to come on as advertised in HIS. It's really -- that's to illustrate the impact of 7% growth versus 4% growth, how close we are to really having absorbing all of the capacity that's in part of us if we just have one year of more typical economic recovery type growth at 7%.[/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, Michael. So I think the 8-K referred is that it's ongoing, and it is ongoing. It is not completed, no.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yeah, the -- we're not going to get into that number. We were giving that for a little while, but now we just embedded into our guidance. The U.S. was certainly over $1 million in this quarter of the $5 million.[/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 have a very unique product, right? Most of what we're originating is reduced stock, but high down payments, single-family and HELOC product. And I think for our customer base, this is something that's very attractive for them.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Sure. So I think, let's start with, we are just starting to have the conversations with our customers for pricing actions. So that's under way. The results at this point are unclear and mixed. Some of our retailers fully expected it and we can get them implemented relatively quickly, some of the larger ones though, it may take a little more time. So it is transitory when that part repairs itself. But specifically, if you look at labor that's probably where it's a little low, call between $4.5 million and $5 million of negative impact this quarter. Again we've raised rates for our people. We've also put incentive bonuses in there for staying a certain amount of time. In fact we're doing everything we can to get people to come in. So, right now our overtime rates are high. Frankly we're running about 20% less people than we would like to have and so that's a difficult environment nationwide. On the material side which includes freight because most of our stuff comes in, freight included in the commodity cost, that's about $4 million to $4.5 million worth of additional costs for the quarter. And then I think as we look at just going on the pure commodity cost where I can identify that separately from freight, we're probably talking somewhere between $0.5 million to $1 million. So if I were to sort of bridge to it, I think your model would look like it's almost all in the RFG side of things.[/INST] Prediction (one of UP, DOWN, SAME): DOWN

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> You, too. Thanks, again.[/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>> Ken I would not like to enter in this type of forecast. We are more focused on to be sure that we manage our cost for different levels of price and if we provide to our business specific hedging profile that allow the business to plan itself.[/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 we've given you tons of context to the extent, it's not enough, then certainly by another stock or recommend an other stock. It's what's been happening anyway. But when you sit and you think about the quality of this real estate and where it's going, I think our investors understand, how we're going to get there because everybody including you has a model and can certainly figure out and make assumptions in that model, in terms of how that would happen, it's not so crazy to do, take some work, but it's not so crazy to do.[/INST] Prediction (one of UP, DOWN, SAME): UP

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Good afternoon everyone. Just a question on the development pipeline. Have you been or maybe are you willing to invest more key money into deals today? And are you seeing any of your development partners coming to you to be a joint venture partner to help them get a project across the finish line?[/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>> Fairly unusual to have a capital incentive that large. So we work ourselves through as we come through on these ECPs that we have proposals. We go to the table and negotiate. There's a balance of affordability and equity on these deals. And as we work ourselves through, sometimes they take time. And then as we settle the deal, whether it's additional margin of capital incentive we'll let The Street know when we close out, and we'll take the booking.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yeah. It's hard for me to benchmark since we're not in the graphics business. I know that's a little bit of a different scale. But certainly, the complexity level of these products when you look at just the complexity of the substrates alone, I mean, I think the number of layers, if you go to these advanced products in, call it, 14, 16 nanometer and below, have probably doubled in terms of the complexity of the substrates. And they're just extremely large die. These are thousands of IOs and some of these die are virtually the size of a credit card. So you've just got very low die per wafer, and you got a lot of demand. And it's been difficult for people to keep up. There's also test constraints that the test times on these things are very long because of the complexity of the product. So there's just -- maybe that's the reason. But I run an analog business and now I run Marvell, but I've never run a graphics business. I don't --[/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 feel good. We saw consistency throughout the quarter, Chris. So -- and exiting the quarter, even though we're at 10-day lower supply, if you take the increase even quarter-over-quarter, our used car sales were up considerably. So that actually 30-day look back, when you take that into account, our actual static inventory numbers were about the same as they were exiting Q2, which we like, and we're continuing to buy more. Also, October is looking pretty good. So -- and I would remind everyone that our quarter-over-quarter look back versus 2020, that was a good quarter, OK? So it's not -- we stop talking about 2019, which was really for that one quarter of Q2 when we had half a quarter where we were basically shut because of regulatory closures.[/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, Oli.[/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>> We saw like we did in prior years. Both the number of accounts and covered lives coming from not now grew very nicely this year as grown each year for us. And our expectation is that there is no reason why that shouldn't continue.[/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. No, thanks, Charles. I appreciate the question. Speaking specifically about health plans, as you know, we really set this as a focus area starting in really when I stepped into the CEO role in late 2019. So, I think part of what you're seeing is actually just the results of spending the 18 plus months actually going out, meeting health plans, and really working that pipeline. I think that the product-market fit has been strong really from the start. But I think we're now starting to really see that come through in the opportunity set. So, part of that, I think, is just time. And then the second piece that I think is benefiting us is that very often, what health funds are looking for is to support their customers. And the increase in customer interest in navigation solutions has shown up as health plans, wanting to provide those solutions to their customers, so that's been the kind of second tailwind which is manifesting itself in a large, robust health plan pipeline.[/INST] Prediction (one of UP, DOWN, SAME): SAME

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

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Thanks. Good morning. I want to try to squeeze in a question and a follow-up here. So first, you talked about 2Q being above baseline in terms of non-COVID costs in U.S. Commercial. I just want to ask how far above baseline versus that 100%? And did you say you expect it to return down to 100% or do you expect it to continue at that level into the back half of the year? And then my follow-up was to Ralph's question. Your -- I just want to make sure we understand 2022 here. Are you saying you're going to grow 10% off $20.20 plus $1? Or is the 10% the total number? And then David, you keep talking to these nonrecurring costs. Can you just delineate what those are and how -- what's driving them and how big the nonrecurring items are for this year? 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>> Thank you. On the D&A estimate you have for the year, the $540 million to $550 million, how much of that is deal amortization? How much of it is just more traditional depreciation?[/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>> We -- Jeremy, we got 25 billion in the 10 years and 3 billion to 4 billion of opportunity out there and a long, long, long track record of organic needed customer investments in the state, renewables, electric and gas to decarbonize. And so again, you know our history here, there's just lots of opportunities here at CMS Energy.[/INST] Prediction (one of UP, DOWN, SAME): SAME

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

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yeah. Thank you for taking my question. I just want to go back to the products and services segments, again for a moment, if you don't mind. I'm not quite sure how to think about this long term. You mentioned kind of looking back to 2019, but when I look back over the last few years, it's sort of been a little bit lumpy. Is this a sort of flattish kind of -- are these flattish kind of revenue lines for the foreseeable future, is I guess my question.[/INST] Prediction (one of UP, DOWN, SAME): DOWN

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yeah. As we've commented to, right now, we're focused on having conversations in regard to M&A activity, and Rob and I are certainly taking some meetings and certainly having conversations around that. So that's our primary focus in regards to kind of where we think we would utilize capital. But there is certainly an opportunity as we talk with the Board to use our cash in the best way possible. And we do have an open program from a share repurchase perspective. So if we think that's the right thing to do, we still have the opportunity to spend about $30 million in remainder of this year in cash -- in share repurchases, if we determine that's the right way to use our cash.[/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 don't know, Doug, I guess, maybe. But I would say that I would caution anybody from thinking about that question as a binary question that it's either one or the other. It's going to be a kind of a transformation that's going to be product line specific. Most of the shipyards in this country build a product. Our shipyards build classes -- several classes. We build four classes of ships at Ingalls. We build carriers and submarines at Newport News and refueling and all that sort of things. So we do multiple classes of ships in our shipyard. We think that serves us pretty well for whatever direction the future is going to be. And if the environment is going to be more competitive, so be it. We're happy to compete.[/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, we can. And I would say for us, it's an emerging opportunity. As we have increased our -- and improved recovery and sorting of non-ferrous materials, I think, there'll be opportunities for us to, for example, specifically hedge copper as opposed to a mixed product, which really was not hedgeable historically. We haven't yet hedged on the non-ferrous material, but we see that as an opportunity going forward. On the ferrous side, the challenge we face is that the index we sell against with our off-takers is not one that's currently hedgeable effectively with a traded contract. There is a traded contract that we would hope to transition to over time that's essentially equivalent, that has a corresponding traded financial contract. We've done that at one plant so far and actually have begun as a result hedging ferrous prices, again, for the output at just one plant. So, baby steps so far, but absolutely our objective would be to hedge this revenue increasingly going forward.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yes, maybe I'll start and talk a little about housing and then Keith, maybe you can add any more color on Lifestyle. If you look at housing, our largest growth businesses multifamily housing or are renters business arguably and a market perspective, that was one of the most disrupted markets through COVID but with that we've still seeing strong growth. So even with options, even with the impacts on COVID we've had a very strong growth in line with our long-term expectations in multifamily and driven in part by the strength of our partnerships also driven by the launch of our new product cover 360. If you look at the LPI that business as I mentioned earlier is stable. We have a very strong base of customers and clients there and if the economy weakens will grow. So from a housing perspective, we've seen growth even through the disruption of COVID and we would expect in a weaker market economy will see growth and we'll continue to see growth that the economy just chug along, but that's housing but let's go to Lifestyle.[/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. Thanks for taking the questions. Just going back to 024, have you guys contemplated a dosing strategy for the Phase 1 dose escalation in terms of whether or not you're going to start off with a flat dosing or based upon the exposure relationships you've seen preclinically, is there a step up dosing regimen that you have in mind? And then I guess, maybe second to that, have you thought about at all pursuing a subcutaneous formulation to further blunt Cmax a little bit? 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>> So pretty much just about everything we do is sole-sourced proprietary products. So we don't have a commodity product line that's a big piece of this thing. Some of our memory products may come the closest. And even there, we are often in very highly protected positions in those sockets as well. I think the short answer is exactly what you said. There is not another place people can go to, to get capacity today. In fact, there's a lot more coming to us, trying to find ways in which we can help support them as they flee some of the other suppliers who are not able to provide them capacity in today's environment.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yeah.[/INST] Prediction (one of UP, DOWN, SAME): 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, as you know, we're going to mark that debt to market. So we'll get the benefit of current market rates. I can tell you with great certainty that our eye is on that constantly. We mark that debt-to-market and are now doing a cost-benefit analysis of that. And that decision will be made post legal day one close.[/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>> Dave, do you want to take one of these?[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yeah. I'm not seeing a new mattress brands. I'm just seeing more infrastructure for supplying the current brands. I don't -- I've not seen an explosion of new in-consumer items. I'm not seeing that. I'm just seeing more focus on delivering it 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>> Yes. So I don't profess to have the exact picture of what could happen, but I'll give you a few of my thoughts about what could happen. In terms of dual controls in the near term, you do see some lowering of petrochemical production. I think ultimately, that will require more imports, which benefits exporting regions like the U.S. whether it's in the I&D business or in the O&P business, I think that's a net positive. I think the reduction of coal use will likely turn off some of the CTO complexes requiring more imports of polyethylene and polypropylene favorable for global producers like us. The shipping constraints, I think, have been a net negative in the near term as they've not been producing for exports as much of finished goods. Two reasons. One is they can't get enough containers. Second, because shipping costs, in many cases are 10 times when you consider both the sea freight plus the container cost, they're just not able to pass that kind of increase on. So I think as that normalizes, I would think that demand should increase in China as they're able to export more finished goods next year. And I think the longer-term outlook is that as there's less coal consumption, it seems to me that the amount of expansion that could take place in China could be less than what we've seen in the past. Certainly, MTO and CTO-based technology or based capacity will likely not be as robust as what we've seen in the last 10 years. So I think there are many bullish aspects to how this could play out. But I think it will be choppy over the next couple of quarters until we get back to something more normal.[/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 might add that -- it wasn't asked, but it's something we're pretty proud of. We're going to have a new tearsheet coming out in a week or so on our community development and our ESG efforts. We spent a lot of time on it. We're really proud of the things we're doing. As a matter of fact, I'd say ESG is a new term really for some things that we, as a company, have always really cared about. We're pretty excited about that. So I keep an eye out. You can go to our website to see our community development statement. And within a week or so, you'll see our new tearsheet for -- where we're making sure we're getting recognized for a lot of the things we've been doing by detailing them in the statement. We're doing some real neat things. We're rolling out, here in December, a down payment assistance program to reach into LMI neighborhoods and help lift people up and help increase home ownership. And in our fourth quarter expenses, we think that if things continue the way they have for us this year into the fourth quarter, we're likely to share some of our profits with our communities in the fourth quarter as we have been doing. And anyway, we're really proud of what our team is doing and what our company is doing to make a difference and -- in the communities we're serving. And we'd love for you all of our investors to take a look at what we're doing on our website and keep an eye out for those efforts going forward. So thanks, everybody, for joining today.[/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, we track -- this is Bob Smith. We track new local direct on a monthly basis. In the third quarter, we had over 2,000 local direct accounts in the quarter, and it's grown every month sequentially since January.[/INST] Prediction (one of UP, DOWN, SAME): DOWN

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> So of course, it will accelerate it when you have an ad server, and header bidder and mostly ad server in such a sophisticated ad serve Spearad into the platform, it will enhance our capabilities, of course, together with -- also even with VIDAA that is creating or providing us data. So all these elements together of course in creating increase the effectiveness of the ad that we are showing through the user according to different parameters and the KPI of the advertiser. And I think that in general, we spoke a lot yet about Spearad, but we are going to do that in the near future. It's one of the most advanced platforms that we saw that is incorporating and CTV ad server and header bidder in the platform. This was built by very experienced industrial veterans that basically build this platform and created it and sold the company like that in the past of ad server to AOL a few years ago. Basically, what we will be able to offer -- what basically what we will be able to offer is a one-stop-shop for all the data, creating serving capabilities regarding CTV. That's what we enhanced basically in the last few months through the launch of Tr.ly, the acquisition of Spearad, and the deal that we've done with VIDAA for the next couple of years.[/INST] Prediction (one of UP, DOWN, SAME): DOWN

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yes. It's Rob. I appreciate the question. In terms of our commercial activities, you're responding, we're pacing them to the NDA filing and targeting and the FDA approval, a couple of key components. The launch planning is clearly under way at this point. I'm really pleased, and Doug mentioned it, we've hired the Vice President of Sales, which is the last member of my leadership team. So we have the full complement assumptions represented across commercial at this point in time. And as you can imagine, all the key areas that you'd be expecting at this point in time are under development, such as branding, message testing, pricing and contracting, establishing patient services, acumen and skills. And last but not least, now starting to design inside the sales force. Our expectation is still go-to-market with a full and comprehensive promotional plan package and we'll have all the functions in place to do that in the United States.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Okay. So, end market drivers. Okay, Angela. Giel, would you like to address the end market drivers?[/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, Sean.[/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>> Again, over to 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>> We don't see a change to 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 very much and thanks for taking the question. I was wondering, Safra, could you just talk about sort of the performance in Europe this quarter? It looks like it bounced back nicely. And I guess along those same lines, can you just talk about cloud adoption on service [Technical difficulty] just maybe what you're seeing in the -- I assume you guys is probably leading the charge, but what you're seeing in other regions just following maybe close behind it. 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>> Austin, the two figure that you mentioned are accurate. Yes, those are in the proposed NDAA and the government fiscal year '22 budget's request. We're in contact with those two customers, the U.S. Army for LMAMS and FTUAS and we really like our position. I am not in a position to comment about the fiscal year '23 activities. We are really focused on executing this year, but we do believe that the long-term prospects for our businesses and our product lines remain intact. We are -- we continue to be a leader in this space and the market that we're in. Overall, the demand for our products and solutions and our innovative capabilities are certainly there and enduring and we're working hard to make sure that we capture those. It's just these headwinds that we're faced with, multiple of them of course, due to the external factors that are going on that we're mitigating as we go.[/INST] Prediction (one of UP, DOWN, SAME): DOWN

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Hey, thanks for taking my question. First, I just wanted to start with gross margin. Last quarter, I think you said it would exceed 40% for the year. You're guiding it down a little for Q2 and you didn't mention that again. So, I just wanted to get your thoughts on gross margin in the back half of the year. And if you still think you can hit that 40% target exiting 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>> Hey, guys. Thanks for taking my questions, and congrats on the IPO. Jim, I wanted to circle back to a prior question and your comment. You know, 40% of active sellers purchasing -- of suppliers that purchased one or more financial service. When you look at some of those sellers that have leveraged even more, you know, in other words, have really taken advantage of that, you know, was there an aha moment that they had where they started to use it and then they realized I'm going to use this a lot more. Just sort of curious what that tipping point was on maybe expanded usage?[/INST] Prediction (one of UP, DOWN, SAME): DOWN

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Good morning, everybody. Can you hear me?[/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, Mike, this is Michael. So I mean, it's a traditional PPG model here. So the gap is the largest in automotive for two reasons: one, they had the biggest inflationary gap; and the second is that's most difficult to get price increases with the automotive guys, but I am very pleased to announce that we have gotten positive price in every automotive region in the world. So we are making good progress there and well ahead where we were in 2017, 2018. I would say the next inflationary would be our industrial coatings business. They also buy a lot of epoxies, isocyanates, so they would have been hit second most difficult. The business that's impacted the least is aerospace, due to the raw material mix we have there. The place that we probably have closed the gap, the most is architectural, we're working also hard on Traffic Solutions, this is a business that historically price was a secondary thought we've elevated that in this business and we've been very pleased with the pace of recovery in our Traffic Solutions business. So I don't think it's any different than what we've seen in years past. And I think we're going to continue to push hard to close that gap with our automotive customers. And that's -- I'm really pleased when you think about where we are in this cycle versus where we were in the last cycle, it's light years apart.[/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, you have it -- I mean, right, we're telling you, 96% collection office, 96% collection resi, and 65% retail. So retail is representing too much of that number, more than it's fair share.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yeah. So, the tax rate we have for 2021 is consistent with what we had for 2020. So, we think, not a lot of change from that standpoint. Now, we do not give any guidance for future years. There's a lot of things that really play into that, Ron, depending upon our operating income, income by segment, and even by jurisdiction, reserve releases as such. But I think it'd probably be in that same type of a range, we think, in the next -- in the future depending upon, obviously, things that may change with the tax laws and enactments and those type of things in there. But I think it's relatively consistent between '21 and '20.[/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>> All right. Thank you very much. I hope you can hear me. I have two, if I may. The first is on IDs again. I'm just curious to what extent your household ID is still driven off the old Myspace assets. And then more generally around Unified ID 2.0 or the commentary that you have given already. Is Viant, any kind of capacity kind of like using unified ID or planning to use it or contributing to that? That will be one question. And then the other one is probably more a bit of an educational one here. I mean I guess if I'm using the midpoint of your fiscal-year '21 guidance, it seems like you're monetizing at like a 67% take rate, which just seems quite high versus peers like Criteo or like The Trade Desk. So I guess it would be helpful if you could walk us through your inventory mix, your owned and operated, versus like third party as well as any kind of additional services within net revenue that may drive that take rate up. Thank you.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yes. So I'll take that in two pieces. And certainly, the gross margin improvements, we've been working for a long time on a lot of individual pieces that are really coming together. And our plan is that, that gross margin improvement should stay very sustainable going forward. Of course, obviously subject like any business now, right, to ongoing increases and input costs and ability to price against that. Relative to the true bottom line on operating margin, what we've always said is that we will test what does the return look like on investments in marketing to really grow that business. And our goal on Joybird isn't necessarily to maximize margin right now, but to get a prudent margin and grow that business. And that's why we were so pleased this quarter being able to leverage that gross margin and leverage great returns on our marketing investment to still deliver a profitable quarter, but also deliver a 79% written-sales growth for the quarter, compared to last year. So I think we're figuring out that model.[/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. I can take the first part of that question, and I'll let Elizabeth answer the second on the inventory models. To your point on our ability to bring on receipts, first of all, it's unclear in January what drove it, if it was stimulus checks or if stimulus checks coming up would drive demand. We did see very healthy January growth rates, and we were ready for that with inventory. And we do have, of course, lead times for the receipt of our inventory. That said, we're very familiar with our lead times, and we do feel very well positioned to take advantage of any change in buying patterns, whether it's as economies open up and decide that we're going to go out more and go back to work or we continue on with the athleisurewear positive growth rates that we've seen to date. We feel we're in a good position for inventory. We are very good at chasing inventory where we need to. But going forward, just given our inventory position, we feel like we're well positioned for the back half of the year should the open economies change the buying patterns. Elizabeth, do you want to take the second part of 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>> Hi, Michael. How are 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>> Great. Thanks for taking the question, and good to hear from you. So, I wanted to talk maybe a quick follow-up on Youssef's questions and your answer around subscriptions. With subscribers reaccelerating a little bit more, reaccelerating 44% year-over-year and you talked about the benefits and the focus on the prosumer and SMBs, can you help us unpack these verticals a little bit more in terms of what led to this increase? Is it the investment in sales, which I think you just mentioned? But, also, just the tailwinds that we're seeing broadly around e-commerce. You mentioned CTV. Anything more to help unpack what's driving these subscriptions besides just the verticals around prosumer and SMBs? And, Jarrod, you mentioned something pretty interesting on tech debt. I think I heard you talk about paying down tech debt overall. And so, maybe talk about just internally how this has helped change your processes and focus more on innovation and growth and how we see the organization or how you see the organization move forward when we pay down this tech debt. 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>> Yes. There's no impact on the operations of the space, perhaps more is there expected to be in the future.[/INST] Prediction (one of UP, DOWN, SAME): UP

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> There are a couple of people in the market, Henry, who do that, but we have a lot of confidence that the combination of Alliant and W&D will make our proposition or offering into the market extremely compelling. And if you look at the list of just the tax indicators, I think if I showed it to you, you probably would identify all 10 names on it. But if I showed it to the average person walking down the street, they might know two. And so it's a very fragmented market. It does not have large players in it. And as we have successfully done in the multifamily loan space and lending space -- we already have that league table, Henry, kind of, if you will, stuck to the wall. And as we have done very successfully in other businesses, we look at the league tables, we look at our market share and we start to march it up. And so Alliant as the sixth largest tax credit syndicator in the country has a whopping 3% market share of total syndications. So the ability for us to go from 3% to 6% to 9% and do in that space what we've done in the multifamily lending space is exactly what we plan to do.[/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, we had a, we had a pretty good inventory position going into it. And we have been very fortunate on our supply chain.[/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 Tim. I'm pleased with the video security business in total. Both fixed video and mobile. I think Molloy and Kedzierski and the entire team has done a great job on investing in additional go-to-market, refreshing the product portfolio, both in fixed video, body-worn camera and mobile video. As I mentioned also, I think the secret sauce for us is to not just have great products in video, but also the integration and orchestration of that with the installed base that we have with thousands of LMR and PCR networks around the world. I'm thrilled with the progress in body-worn camera, both domestically and internationally. We had the big announcement this morning with the French Minister of Interior, but we're taking share. We're clearly -- I think we've been doing that since late last year, the second half of 2020. And it's pretty clear as well that we're taking share, and we took share in. And Jack may want to talk about the progress in public safety as well, which I'm pleased with.[/INST] Prediction (one of UP, DOWN, SAME): UP

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yeah. So -- so, we -- we obviously take a look at two things. One is the age range of diagnosed acne patients generally. And what we found when we did that exercise through claims analysis is that the majority of the patients diagnosed are between the ages of 12 and 24. That's what we see with Amzeeq as well. We see the majority of our patients are actually between the ages of 10 and 20 now the way that we analyze in real-time. We have bracketed age ranges that are a little bit different than the claims analysis that we did about a year and a half ago. But the -- the age range for Amzeeq prescriptions is typically in that 10 to 20-year-old range with some falling outside of that. That's what we would expect and, you know, it's -- it's kind of falling in line with what we saw initially with diagnosed patients. So, we would expect that to continue.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Thank you. Good morning. I hope you're all safe and healthy. My first question is the follow-up on Univision. Liberty Global took a minority investment during the quarter, could you please elaborate on what does this mean for Televisa and the relationship with UVN. Thank you.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yes. So, again, at this point, we're not really giving much numbers in terms of incremental revenue growth that's been generated for assortment or delta premiumization because these are all competitive sensitive. And we believe BEES is a big transformation initiative of our company. But we're seeing things like in seven of the 11 markets where BEES is today, more than 50% of our net revenue or sales is already there. We're seeing that 25% of our global base of customers is already connected, and that's 60% above what it was December last year. So we're giving some data points there. And in terms of your other question, in terms of spirits-based, this is very much derived by country-specific consumer insights. In some countries depending on the competitive environment, depending on what people used to drink, we see more fit for more malt-based beverage or more distilled-based beverages. So this is something that can be adapted. We see even here between Canada and the U.S., some beverages have different bases. This has to do with some local habits, and our belief that we'll be more successful if we take those into account.[/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, I mean, Emilio could answer better, but I think the answer is we probably have seen most of the mix shifts that we're going to see, maybe a little bit more, but we continue to reprice our CDs lower. And during the early part of the year, the price reduction was drastic and we saw some runoff that seems to be stabilizing. But Emilio, why don't you jump in and add a little color 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>> Christie, we have time for one last caller.[/INST] Prediction (one of UP, DOWN, SAME): UP

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

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Thanks for taking my question, three from my side. Telling the smart retail engine that you mentioned, do you have any customers lined up already prelaunch? And then jumping to NDC, obviously, noting the continued progress in certifications and number of deals signed, what percentage of bookings are we expecting in the coming year or so? And should we expect similar economics versus traditional GDS distribution channel, particularly, as you have alluded to just now, the technology in NDC in this case, over time, prove its value for higher yield per seat instead of just being a shift in distribution channel? And just one last one on recovery. You provided a lot of color, regional mix and noted that stronger domestic leisure recovery. But just wondering if you have any color -- a bit more color on potential corporate recovery that you're seeing, particularly in April? 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>> Okay. So for Q4, we have the main aspect is -- the main one is that we process less tonnes. So it's impact -- it impacts the unit cost per tonne for sure. No matter if the grade was higher than expected and also we have the seasonal effect on a quarterly basis from the quarter to [Indecipherable] in winter our operating costs are higher than summer. In the year we averaged $181 to $195. So basically we are more or less trending this year between $215 and $195.[/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>> Thanks. Good afternoon, everyone. Somewhat of a follow-up question to Bill's labor question. So if we were sitting here today, Barry, under our pre-COVID model, how many FTEs would you have at these demand levels? And then just compare that to what you actually have today?[/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're not seeing the impacts of that at this point. There's certainly some, I would say, noise in the system, but we're not seeing those impacts with material deliveries and things of that nature. It makes some of the work a little difficult. It gets out of sequence here or there, but we're typically able to overcome that and move around. Some of the projects are larger. We're moving on to something different and able to overcome any kind of material delay. We're working with the client way upfront. And when we talk about front end and things we can do, if we're working with the client way upfront, it allows us to work with them. We know the delays coming so we can move with our resources around and stay productive, stay prudent, and it helps both us and the client long term. And that's the beauty of a collaboration. So we're not seeing those impacts.[/INST] Prediction (one of UP, DOWN, SAME): SAME

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

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Thank. Dave.[/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, in terms of -- one thing we can report on is the Precision Planting aspect of that. Precision Planting sales I think were up close to 20% in the first quarter, so off to a really good start there. That's about half of that revenue. The rest of the growth is probably in line with what we've seen with our core business. So we are progressing well there and we'll report maybe more specifically on that hopefully throughout 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>> Yes. So on the instrument side, yes, they will come down really in two areas, Tycho. So our applied genomics business from a core perspective or non-COVID, I should say, has been growing like gangbusters. I think over 50% I had in my prepared remarks. So I don't -- I think it's still strong, but I don't think it's going to continue at the 50% level. So we kind of took that down a little bit looking forward here. And then really, we've just put a little bit of cushion on all of our instruments in terms of some of the supply chain disruption that's out there. So we feel pretty confident about the guide and instruments will come down a little bit, but we've been able to manage to it to date then and hopefully, you'll see us beat the guide again 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. We do see it as a 1% to 2% tailwind for our business into the future. That said, this year we'll be closer to 2%. We are seeing day two activity in the education vertical as we provided roadmaps to our customers, how they could upgrade their infrastructure and obviously, now with stimulus funding becoming available, some of that is happening. So that's good news. The other thing we're seeing is we're seeing a lot of demand in the office space for audits, is the indoor air quality audits as people are thinking about how they're going to get their employees back to the office. So that's upticked nicely. And we're going to go through the same exact process we did with the education vertical and the office vertical. So we see that coming back as well. The other thing I would tell you, Andy, is it's getting more and more difficult to say what is indoor air quality versus what is just part of an applied system. So it's very similar to maybe like controls, where it's -- if you tell me the controls number, I'm not sure what you're referring to. It's getting to be that on the indoor air quality as these solutions to have better indoor air quality are being embedded in our applied systems.[/INST] Prediction (one of UP, DOWN, SAME): DOWN

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Yes, thanks Travis for the question. So the legislature during this session has really allowed PURA to implement a lot of the stuff that they had done in the fall legislation, so we're not seeing any activity. And right now they are just trying to put the rules in place and that's really what we're actively involved in. So, we have not seen any additional legislative activity other than some basic stuff around maybe solar or storage.[/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 you are asking for guidance for next 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>> Just wanted to clarify one thing. In my prepared commentary, I said when talking about productivity, I said materials were down 1%. What I meant to say was our cost of goods sold, excluding our materials were down 1%. So just to clear up that one little thing there. All right. With that, we will close. We appreciate everyone's interest in AAON and calling in. We are looking forward to talking to you again in November for our third quarter results. Have a nice day.[/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, thank you.[/INST] Prediction (one of UP, DOWN, SAME): DOWN

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Well, I think, Andy, like we said, I mean, we certainly have some really good momentum in our businesses in Q3 and Q4, if you kind of set the auto situation aside, those businesses are up 10% organically. And like you said, there's some really positive momentum, particularly in the more capex-oriented businesses. So welding, test and measurement, food equipment, and then I think like we said, once the automotive production challenges get resolved, I think we're set up really well for a strong recovery down the road. We think potentially in 2022, we'll see some positive momentum as well in automotive OEM. So we've not rolled up the plans yet fully embedded the plans fully for 2022 yet. But -- and until we've done that, I don't really want to go comment too much. We'll give you a full update in February, like we always do when we provide guidance. But certainly, in terms of demand the volume leverage that goes with that, the momentum on still on enterprise initiatives nine years in. Our ability to deal with whatever cost and supply chain issues come our way. I think we're really well set up for 2022 and beyond.[/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 for taking my question. I know we're coming quite long -- long into the call. I was wondering if we could just go back to OIS margins in the quarter. And John, I believe you talked about mix issues or the mix impact on margins there. I was wondering if you could help us think about how to think about the incremental margins, excluding the tech transition costs as we go forward through 2021 and specifically, if we're modeling mortgage revenue declines or headwinds in the second half, does that mean you should expect higher incremental margins and vice versa?[/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 in, obviously, we have the short-term issues with COVID that we have to work through, but beyond that, we need some top-line growth. You can't pass 50% utilization in your commercial facilities and which are volume oriented facilities and get there. We've talked about the need to get our revenue levels up to an approximate run rate on an annual basis of about $2.3 billion. We're roughly at $2 billion now. So we need to see some growth there to be able to adequately utilize the facility, given our current footprint. And that's what we're driving for. Now we see that opportunity. You look at our revenue growth targets of mid-single digit organically. You can get there in the timeframe that we're looking at. Obviously, other things can happen to make that quicker or slower depending on macro levels or acquisitions or other things. But that's what we're looking at. We certainly believe it's attainable for the footprint and the capabilities that we have today.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> I mean, if you're -- I think your math is correct. As we continue to make good progress next year and pay down debt that would drive us being a bit below 3 times and as we've said all along 3 times or lower. So I think our priority in 2021 will be to get that debt level down to 3 times or lower and that speaks pretty well to the excess cash flow we have next year.[/INST] Prediction (one of UP, DOWN, SAME): SAME

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Thanks, Terence. Dan?[/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, good morning. Thanks for taking my 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>> I think some module maker POs has a very small portion, for to -- as a contribution for revenue. The major visibilities are OEMs because they also worry, they cannot get a supply. That's why they give us visibility much better because normally they only give us three months, PO and the six-month forecast, now they give the full year, PO that's why we can see through 2021 demand for our major OEM customer.[/INST] Prediction (one of UP, DOWN, SAME): UP

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Thank you very much, and good afternoon, everyone. So, Steve and Dean, you both kind of alluded to this topic, but I wanted to dive into it a little more. We know that the same-store NOI growth guidance on a GAAP basis is 2% for the year but you've done nearly $6.3 billion of acquisitions over the last 25 months, and I assume most of those, if not all of them, are not in the same-store pool. So how should we think about NOI growth in 2021 from the lease-up and mark-to-market on these non-same-store assets?[/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>> OK, Mike. It's been to hear from you. I'm going to let Christine take the Hulu SVOD question, and then I'll ask Bob to address the MegaCast 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>> Hey, Kieran, you want to --?[/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>> Sequentially quarter-over-quarter.[/INST] Prediction (one of UP, DOWN, SAME): DOWN

[INST] <<SYS>>You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME<</SYS>> Well, I would say we continue -- and even through 2020, in the middle of COVID, we continue to actively manage our portfolio. And we focus on three priorities when we think about that. One is prioritizing where we invest organically. So the 5.5 to 6% on R&D is not everywhere the same. We are prioritizing where we're making investments. You'll see that in capital investments as well. So we use portfolio to drive that, first and foremost. That's our priority in our capital allocation. Then we look at complementary acquisitions. And Acelity, as Monish talked earlier, that's a great example of that strategy. And we're focused on Acelity. We continue to be active in looking at M&A. We're focused on Acelity as we come into 2021. And then we do have a, I would say, a rigorous approach to optimizing value in each of our businesses. And this includes what we might do to change the model. Or if there's a better owner or more value to be created, we would -- this would include divestitures, as we've done, as we did with our drug delivery business in 2020. So it's an ongoing process. We continue to assess it. When we see an opportunity to increase value, we'll take action as we have.[/INST] Prediction (one of UP, DOWN, SAME): UP