michelcarroll/llama2-earnings-stock-prediction-fine-tune huggingface dataset:
You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME
 
Great. Thanks for taking the question. I wanted to talk a little bit more about Tread. And William, I think you just sort of talked about this.
But with the delay of 60 days, go into May here in the U.S. can you just talk about the plans maybe you might have to ensure a quick smoother rollout. So I think next week we talked about pre-sale in certain zip codes here in the states. And then just tactically speaking, when things normalize may be less than four weeks as we talked about order delivery times would be the same across all devices.
I just want to make sure that's true as we think just tactically as Tread rolls out and how we might think about that. And then just a quick follow-up on Jill, you mentioned bringing more Bikes and Tread to the states ahead of demand, and maybe just talk about the rollout of the network there and the build-out of the warehouses how that might work. Thank you.

    Prediction (one of UP, DOWN, SAME): SAME
You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME
 
Yeah. So, we're expanding, you know, our capacity in terms of adding staff. And probably -- you know, that would probably more show up in the SG&A portion. I think that as we look at gross margin, if I were to, you know, be very clear, I think we're expecting now that gross margin might be slightly lower, not lower than Q1, but lower than our original expectations for 2021 based on this updated guidance.
But SG&A will also be somewhat lower. And so we're able to maintain the profitability in the 16.5% to 17.5% range that we've talked about with a real focus on the midpoint, 17%. But we are seeing, you know, somewhat elevated levels of compensation being required both to retain and bring staff, you know, into EPAM. And that's something that we're mindful of, you know, both as we produce the guidance and as obviously, we try to drive the company throughout the remainder of the year. 

    Prediction (one of UP, DOWN, SAME): SAME
You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME
 
Well, certainly, a portion of the $30 million or so of benefits that we've received upon integration has been price. I mean it's not the largest component, but we have certainly taken advantage of some of what you mentioned with respect to previous ESOL practices on pricing. And so there is some benefit that we've derived to date over the last 18 months or so from that. Going forward, we really haven't yet built in probably to the extent that I might like to see some pricing benefits. But you're right, this is a market that should enable us to see more benefit from pricing. And those discussions are on the table as we speak, but not necessarily built into our outlook for the second half.

    Prediction (one of UP, DOWN, SAME): SAME
You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME
 
Hey. Good afternoon, guys. So first question, maybe can you explain and give a little bit more color on your expectations for Truly in the second half. I know you said for the full year, you expect at least to grow at the low end, 2 times to 3 times the low end of the 20% to 50%. But just any thoughts on the second half as you cycle more normalized comparisons, that would be helpful, first to start.

    Prediction (one of UP, DOWN, SAME): DOWN
You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME
 
Good morning, it's David. I think you've identified several important features here. So, as it relates to commercial customers for 2021, as expected -- we expected to step into 2021 with about the number of customers we would end 2020 with, as it relates to the year's pattern, I'd ask you to think about it as follows. First, we expect the ongoing COVID impact to disenrollment to continue to have pressure on customers throughout the first half of 2000 -- our customer number -- throughout the first half of 2021.
Second, as it typically takes place in the national accounts segment, there are some non-COVID related disenrollment that happens historically in that business because most of the selling takes place during the first portion of the year. Offsetting that is continued growth and strength in the Select segment that has a very active selling season throughout the course of the year as well as some known, that we'll call middle market and new business adds that will take place during the middle portion of the year.
Now, as it relates to looking forward, you asked the final part of your question relative to the trough in national accounts. Our early look at 2022 is we would expect a very attractive retention number at this point for our U.S. medical national account relationships, as well as the selling season has been pretty active right now for us. The RFP volume is up, the quality of the RFP volume is high. We have some new business opportunities wins that we have on board already, and we're in active pursuit. So we have a level of optimism relative to the outlook for that segment for January of 2022. Hope that helps, Steve.

    Prediction (one of UP, DOWN, SAME): DOWN
You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME
 
Sure. We have approximately $300 million growth, and we've got a quota share of 65% against it. We've got some XOL against it. So basically, it's less than 150 net, all in.
So we think it's very well contained for the size of our balance sheet and for everything that we're doing.

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

    Prediction (one of UP, DOWN, SAME): SAME
You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME
 
Yeah. I think it's achievable, Chris. I think we're still going to be measured in how much this operating leverage that we've spoken of brings us in the next quarter. We're not expecting pricing to move. In the second quarter, that's probably a second half of the year. So I'd say it's achievable, but we would probably like to remain a little conservative.

    Prediction (one of UP, DOWN, SAME): SAME
You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME
 
As I mentioned, we do get quite a few phone calls from potential partners, but we're very, very careful and we're very, very selective. We are in business with some great companies right now. We think Nestle is one. We think Walmart is one. We think Watsons is one. We love our partnership with grace. There are other companies with whom we have had and are having conversations, but much to the chagrin of many. We're very careful and very deliberate and very slow. So, it has to fit in strategically and it has to make sense for our shareholders to do a deal like that. But yes, it is possible that you could see another deal like the Nestle deal with another partner.
Generally, our primary goal is to build a global brand. So, we're building a global consumer brand. So, if it's a partner that has their own consumer brand, it's very delicate situation. We want them to succeed with their brands and at the same time, we need to further our strategic goals. So sometimes these can be difficult negotiating points to work out. The other question was how's it going with Nestle?

    Prediction (one of UP, DOWN, SAME): SAME
You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME
 
Okay. I mean, Mike, you want to -- the percentage rent deals that we have really relate to our movie theater tenants. Some of those were set earlier in the -- when we were working on these deferrals. But generally, Mike, if you want to go through how they relate to might be helpful.

    Prediction (one of UP, DOWN, SAME): UP
You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME
 
I think that we are coming to the end of what we have come to the end of significant structural changes. Having said that, we have a few things we're trimming this quarter that aren't super material. I think going forward, what you will see is operating leverage, right, an expectation that revenues will grow, but noninterest expense will not grow at the same pace because we have established levels of productivity, and we believe that we have capacity to grow revenues without commensurate growth in noninterest expense. I think one of the things we mentioned is we continue to look at our occupancy costs and space needs in light of a changing landscape for space.
And there is the potential to further reduce those costs. I can't predict the magnitude of that yet, but there is that potential. But there's also the reality that some costs will increase, right? Basic inflation, we all fight. And there's a certain amount of technology spending that we will have to do going forward to stay current on functionality for customers.
Having said that, I think my first comments are still the most important. We are expecting operating leverage going forward. And that's where we hope to see the statistical efficiency gains primarily.

    Prediction (one of UP, DOWN, SAME): SAME
You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME
 
I think it's the same market drivers that you all see in terms of both NAND and foundry. But at the same time, we see a few -- we have a few unique drivers that drive our business in semi. As you know, we have grown our RF matching business faster than the market. We have new products that we launched to the market we expect to see growth. And also, we continue to gain share in cross-selling the embedded power supplies into the $300 million SAM of the embedded power application space in the semi industry.
So we have multiple drivers that will grow our business. But I can tell you that from our vantage point, right, and the information we gather, demand is going to be, I mean, strong in Q1 and accelerating in Q2. And obviously, as I mentioned earlier, everybody's challenge right now is going to be based on can we all get the IC components to deliver those products on time to market? But the demand is strong. I'm very excited. We expect 2021, as we said earlier, in general, to be a growth year for us. Obviously, what we see right now in the semi space is an accelerated growth in demand.

    Prediction (one of UP, DOWN, SAME): DOWN
You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME
 
No, there's a lot of partnerships out there to go after. I think that announcement by itself triggered a whole rash of conversations, both from the financial industry, as well as, other industries. This whole conversation around customers building their own data cloud, you know, it's really the center of their universe, the way they interact with their partners, their customers, their stakeholders is a huge idea and people are seeing the opportunity and the potential. And obviously, for BlackRock because they are the world's largest asset manager with, whatever it is, $21 trillion, $22 trillion of assets under management.
They realized that they needed to modernize and transform to be able to continue to be in a very dominant position and it was -- from an economic standpoint, it's really no different than what we're doing. In other words, it's not a different line of business for us. It's the same product, same business practices and so on. But obviously, these relationships are highly strategic to us because they become cornerstones to the Snowflake Data Cloud and the data universe because this induces network effect all over the place from people that need to have access to this data or provide access.

    Prediction (one of UP, DOWN, SAME): DOWN
You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME
 
Yes. This is Chuck. No, we don't see the same incremental levels going into the back half of the year -- or back three quarters of the year in Q2. In China, we're kind of looking at incrementals in that 40% range. And then as you think about, kind of, how the year plays out in China we've got a special item that we had last year, which was social insurance which helped us for about $12 million last year which we won't see this year. And that --the cadence of that by quarter we got the most benefit last year in Q2 and Q3.
So Q1 was very small last year. So that's a bit of a headwind as we go through the rest of the year in China. So, I mean, we're pleased with where the first quarter came out in China just under 6%. That was a pretty solid quarter for what is always a challenging seasonal quarter for us with the festivals and the holiday. And the fourth quarter is always our strongest.
So as we kind of look at China and Kevin mentioned it we would expect the back three quarters of the year to progressively improve. Overall, growth rate in that 6% to 7%. And then we get into the fourth quarter approaching double-digit operating margins in the fourth quarter similar to what we had last year.

    Prediction (one of UP, DOWN, SAME): SAME
You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME
 
Great. Thanks for taking my questions. I just wanted to clarify, I saw your original guidance was that the first -- the second half was supposed to be up in volume, 30%. I mean I'm not sure if I'm misreading it, it sounds like Q3 may be up a bit from Q4.
So is that 30% still not accurate? Obviously, it's kind of important when you think about the 10% into 2022, what pace we're going off of?

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

    Prediction (one of UP, DOWN, SAME): DOWN
You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME
 
Trevor, it's Brian. Yes. We we remain pretty cautious on higher coupon specified pools, in particular. The TBA market and higher coupons is also not overly attractive as well. And we do think that there will be pressure on those pay-ups. So we did move into 30-year 3s during the second quarter and a little bit into 3.5s, but we remain in relatively generic collateral in those coupons as we do think that pay-ups could continue to feel some pressure as we move forward here.

    Prediction (one of UP, DOWN, SAME): SAME
You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME
 
Well, when we're saying 10%, well, of course, I have to say you need to say, OK, this 10% is over 2019 levels. I can't say that there are some construction in hotel construction projects today as we speak, and they should be opening very soon. So additional capacity is being placed in the region, also in terms of Airbnb and things like that. So today, to be honest, I'm not concerned about the capacity. We are concerned about not having the fourth wave and we are working also in terms of the cost control and increase in the commercial revenues.

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

    Prediction (one of UP, DOWN, SAME): SAME
You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME
 
I believe so. I'll-I can't comment on that. So your last remaining part of the JV, correct.

    Prediction (one of UP, DOWN, SAME): DOWN
You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME
 
Mike, thanks for the question. Yeah, we typically wait to talk about portfolio transactions and things after we've announced them and so forth. So -- but I don't think it's a big secret. We've had a pretty small package in the Permian that's in the market.
It's noncore, some higher cost waterflood-type stuff that we may be in a position to transact on. We'll see. We're kind of working through that now. I think the point is we've got the rig running in the chalk.
We're open to looking at what we will and will not be investing in. And as we make progress on things like modernization in Egypt, it's a continual process for us. So a lot of key things going on but we're open and always looking at various things with the portfolio.

    Prediction (one of UP, DOWN, SAME): SAME
You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME
 
Sure. Happy to. It's Angela here. At September, the portfolio loss lease was 9.8%. And -- but it's a wide spread from Northern California in the 4s to Southern California in the low single digits, around 13%. And so -- and we understand that typically, analysts look to this loss to lease to model next year. So I want to just make sure that I provide a little more context on that because we want to consider a couple of factors. First, this year was an unprecedented year because we started out the year with a huge negative rent growth and have turned positive. So it's a very steep curve. And so this trajectory is not likely to repeat next year. And so -- but because of that, and the delay in the seasonal peak, it has created a small drag on revenue for next year. And secondly, some markets, those over 10%, which, broadly speaking, will be our Orange County, San Diego and Ventura counties, they have -- they're above the 10% cap -- rent control cap. And so that will be a factor as well.

    Prediction (one of UP, DOWN, SAME): SAME
You are a financial analyst, determining what effect an earnings call will have on the company's stock price, based on a summary of one. Be as critical and skeptical as possible, and remember that the market may disproportionally react to small unexpected details. Respond with one of: UP, DOWN, SAME
 
Yes. Agreed. I think that's absolutely right. And we have the technology to deliver that seamlessly. Because all the applications for our products are all API enabled. And so whether the RIA facilitates that or whether it's facilitated through a mobile application or online, we have the ability to make that a relatively seamless process. So I think that's something that's really exciting. And frankly, the big custodians have not done that well. But we have -- because of our -- obviously, our history and how -- where we've come from, we have great account opening technology. That account opening technology is something that it would take a very large RIA to be able to generate and make that work. So how much does our account opening technology come into play? And how much does the consumer platform come into play? Those will be interesting opportunities on a going-forward basis.

    Prediction (one of UP, DOWN, SAME): SAME