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
 
Well, really, for starters we believe our stock is trading meaningfully below its intrinsic value. And it's certainly not reflecting the results we're delivering the robust outlook that we have just what we see on the inside of the company in terms of a company building on momentum and great relationships with our clients.
And that was the reason for this in the third quarter. What I would add to that to your comment of how we buying to offset the dilution, the shares that we acquired and have repurchased in the third quarter significantly exceeded our annual grant of equity. And so, what we do not look at as necessarily offsetting dilution but just we look for the highest value we can create reallocating capital. And so the share count didn't come down as much as you may have expected in the quarter because of the timing of when we were buying. We don't buy an acquired period, for example. And so, later in the quarter, so that it would be over way toward future periods.

    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
 
Yeah. I mean, there's roughly $300 million of cash on our balance sheet as of -- and I'm speaking as of Q4. We have vast amounts of activity that's happened in the first two months that I won't comment on directly. But as of the end of the fourth quarter, roughly $293 million.
We just spoke about a securitization of upwards of about $500 million. That would free up some cash there. Most of those assets are unencumbered. I mentioned we have over $1 billion of unencumbered loans and assets on our balance sheet.
So when you think about dry power, the way we think about it is our unrestricted cash and financing arrangements that we believe are prudent to execute that go with our liquidity plan as a company. So we see upwards of over $1 billion of kind of that dry powder to execute into portfolios.

    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. Good morning. Thanks for taking my questions. So on the upward revisions here, 2025 lithium demand forecasts, you pointed to -- obviously, to EV penetration and the mix of EVs, larger batteries of the drivers.
I'm just wondering if you could provide color on -- on the outlook from a hydroxide versus carbonate standpoint? I'm just curious if the -- the upward revision is tied mostly to higher energy density EVs, and therefore, more skewed toward hydroxide?

    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, thank you for the question. So I think on the pharma, we expect the second half of the year to significantly outpace the first half. So that overall, the pharma revenues for the year will be significantly above last year. So that is our forward direction that we can give.
I think I would also look at this as a trend. As I had said in previous call, I think the company has been focused on COVID last year and as such, any pharma deals have been more or less put on hold. Now that we have restarted that work and have strengthened that team, we see really good progress. But of course, from the time that you negotiate until you sign a deal and then until the deal translating revenue when the clinical -- on the outcomes trials actually start that just has a certain lead time.
But I'm very confident that you will see quarter-over-quarter significant growth. And then if you extrapolate, of course, that trajectory into 2022, you will see that, that business is back on a highly attractive growth track. For diagnostics, I think you're mentioning the 5% is a bit short term. I would say, comparison, overall, we clearly expect the diagnostic business to outpace the average genetic diagnostic market, which when we look at the benchmarks seen currently at around 10%.
So we clearly have a plan to grow off that.

    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
 
We currently see -- I think that answer has maybe two different ideas. Number one is the Company continues to be, let's say, on the sidelines when it comes to, let's say, securing inventory as we have done pre-pandemic. Remember that we were actually at around, let's say, 5% -- between 5% to 10%, no more than that of, all the gross bookings we were selling were actually secured or paid in advance on capacity at hotels and/or airlines. Since the pandemic struck, we were completely on the sidelines of that, and we are not thinking about starting to push into that arena as of, let's say, the next few quarters. And we do not see a reason to do it given, number one, the ups and downs of the business. And number two, we see capacity, so there's no need to do it. Of course, we see that as a profitable business, and that will be -- we'll put our foot on the gas pedal as we are fully recovered because we see there's opportunity to gain extra margin. But for the time being, we will not do it.

    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
 
No. We are going to turn to the next question from Robin, I believe. There's a line. We'll turn to Robin from [Inaudible].

    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'll let Kurt take the mix question in a second. But look, cell and gene therapies continue to grow in the overall market. We see it and everybody else sees it as well. These new therapeutic modalities require -- because these new therapeutic modalities require integrating, accessing and understanding by primary biology in a very high throughput and scalable way, Berkeley Lights is really well-positioned.
And in regards to cell therapies, we believe when we integrate our characterization capabilities for QA/QC into a manufacturing platform, we really will provide the industry with the greatest opportunity to dramatically accelerate deployment of cell therapies. Now that will take time, but I do believe there's great promise. As the complexity of biology increases into the future, Berkeley Lights is very well-positioned. I don't know, Kurt, if you want to add anything in regards to some of the mix questions?

    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. Well, you know our business can move very quickly, the markets can move day-to-day, month-to-month and you never quite know we [Technical Issues] full-year at the end of the quarter. But I would say generally speaking, this is a more positive environment for us right now. I didn't want to open in my sort of formal remarks on the environment, obviously the news on COVID is not great right now. But I think what that does say to us is, we still a long way from normalization here. It feels like COVID is going to have sort of a long path toward some sort of endemic normal for us. And then you still have to deal with sort of the Fed's normalization of its position in the markets. And I think both of those things are going to provide periodic bouts of volatility, which can be very good for us.
So I think it's generally a pretty positive environment, that doesn't mean it will be positive every quarter. But I think we see that as a pretty good environment for us. And this also with all the talk around inflation, there is some real talk now that interest rates are going to start being pushed up sometime soon. And obviously that has a pretty dramatic effect on our bottom line. So, I think the environment for us is setting up well. As I said, it's hard to know quarter-to-quarter, how that's going to play out. But I'm pretty bullish about the environment we facing. And I think the current market is better for us.

    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
 
It's really a stockpile. But definitely, this is something we eventually we'll see how many tonnes. I mean, you can imagine when you processed 27 average a day, the first quarter of 15,000-16,000 tonnes is not a lot to impact result, if this is where we're going. But the truth is we're currently stockpiling, and we'll see later in the year.
There are some precautions to be taken, as you can imagine. It comes with some metals and from the underground. So we got to be sure we're well equipped has we decided to do initiate processing.

    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
 
Tim, I think the Number 1 thing always in getting something prescribed is just changing habits. Obviously, there are a lot of healthcare providers that over the years have gotten very comfortable in prescribing the C2s and they work very well. So there is a -- there's a large base of business in that area. And there are lot of short-actings also of those same molecules that are short-acting that are very easy to transition to a like molecule long-acting. So, it's really getting people to change how they practice medicine and how they treat their patients. So, it's really about changing habit and that's why earlier I mentioned being able to be in front of our healthcare providers or customers is so important to us because I think that's the best way to change habit is face-to-face visit, sharing clinical data and information. So hopefully that helps.

    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 morning everyone. I hope you are doing well. So maybe just following up on Wendy's question regarding the margin recovery. I know you mentioned 4Q margin should improve sequentially, but coming from down 200 basis points, you know that's a pretty wide frame. So can you maybe help us understand the magnitude of the improvement? And looking out the '22, but when do you actually anticipate gross margin expansion given the comments you made around pricing offsetting commodity for three of the four divisions?

    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
 
Not during my tenure. I think my stance is very much that we will announce leases as and when they become leases and we sign them. So I don't -- we're not going to provide guidance on leasing pipeline going forward. And I haven't done that.

    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
 
Andrew, if I could just add a point of clarification of the $45 million that -- $45 million that Todd referred to, that is in the rental segment as well as the First Aid segment. You saw our First Aid segment had another very good quarter at 17.7%. And so we are seeing demand in all of these different kinds of things in -- from all of our customers and we're doing our best to meet those demands. So it's -- that $45 million is not all within the rental segment, it's in all of our businesses.

    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
 
Thanks, Peter. We'll take the next question from Jason Gabelman at Cowen. Jason?

    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
 
Go ahead, Phil.

    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, like I said in my remarks we expect to get back to pre-pandemic levels later this year. So that is increased demand in Q3. There are some MTO plants that are taking some planned maintenance, the MTO industry has been operating at really high rates for a couple of years. And in Q2, they operated at 92% which is above our even estimate. So we expect to have them to have some maintenance, which could impact demand, but we expect demand to continue to grow through the second half of this year. A couple of applications are still lagging are the fuels applications, MTBE, biodiesel, those kinds of applications, because we're still not seeing globally a return to normal driving habits, because of the pandemic. So, but we expect those to improve as we get back to more normal habits as people are vaccinated and the pandemic is brought under somewhat of a control.

    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
 
Excellent. Thank you guys for taking the question. I wanted to dig a little bit into -- I think David, you started getting into this with the positioning of Express and how we should think about that. How does the Express positioning relates to kind of what you guys were trying to do with Spark and those mobile offerings in terms of an entry ramp, is it kind of in between those two? To what extent should we think about this as defensive to some of the emerging competitors that are ramping up in the marketplace?
And is there any risk of downshifting the existing Creative Cloud customers who need a lighter weight solution, now it appears a, cheaper offering, if you will, is there any potential that you could see some downshifting within the base of people trying to price optimize there or to the contrary, does this allow you to sort of pull price up on the core Creative Cloud? Can you just help us with those kinds of questions on the positioning around the portfolio now?

    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
 
I think I'll hand it to Phil actually for those remarks.

    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'll start with this. Then I'll turn it over to Kevin to talk about maybe some of the financial parameters. Right now I think we have a clear value proposition. We have a phenomenal enterprise value proposition for shareholders.
In the near term, it's taking some of that value from debt holders, putting it in the equity-holders' pockets from paying down debt. So I think it's very clear and this only accelerates that mandate that we've had in terms of how we're delivering shareholder value in the near term. But we are thinking about, OK, with this type of free cash flow generation on this new platform is substantial, and I think our leverage starts moving down dramatically. And maybe Kevin you want to talk a little bit how we think about decisions?

    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
 
Yeah. I think the first thing, for the highest level. We have had that EBITDA progress that I think is worth kind of a reminder of as we look back. In 2019, we were at 14.1% in our guidance -- in the midpoint to their guidance. And then, we landed at 14.2%, ultimately 18.9% for '20. And in '21, the midpoint of our guidance implies 22.5%. So, you're really seeing that fundamental margin improvement. As you can say, what are some of the key initiatives that we're looking at and that's driving that? As we can see, we're really getting toward that mid-term maturity. And that's -- we really felt the confidence to expand our long-term goal of [Indecipherable] and that's echoed there. The key driver here, as I think you've particularly gone through, we really do believe a lot in this digitization and automation efforts. That's our key driver. In the very near term, as we look at this year, are there also some additional cost savings as well as some costs coming back frankly? If we think about our 401k health costs that we are banking into our budget, the answer is yes. So within that, if there's -- the real estate workplace of the future, all of that does bake into our assumptions and analysis. But I think we feel very confident in that long-term trajectory and also the steps in the demonstrated pathway that we had in reaching that.

    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, John. Congratulations on the large contract and Exensio deal as well. Just wondering if I could dig into that contract a little bit. Can you give us any color on the sort of the split between DFI, CVs and Exensio in that contract?

    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, sure David. I would say that you're right. One of the ones that we were excited about was a core contract renewal that does include some expansion in that, it's a long-standing customer that we continue to grow services with. The remainder are new and so the revenue that we're adding sort of in year tends to be at this point in the year, about half of what overall AR would be for the following year. So, you end up with some good growth set up in 2022 already, what we've said though is, we will provide a little bit more detail around bookings by the end of the third quarter to give you some more insight. So, more on that to come.

    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
 
Sean?

    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
 
Let's move to the next question.

    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
 
Hey, Jimmy. It's Ken. When we set that earnout, you may recall that it was above what we set as a baseline for the performance of the business. It was to provide compensation if they were to exceed our original expectations.
So that's the way we thought about when we did the deal, and that continues to be the way that earnout is positioned.

    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
 
We have scheduled amortization payments under our term loan of CAD 10 million every quarter. So -- and then generally speaking, to the extent you have free cash flow over and above that in the quarter, I would say the majority of that is going to be applied to pay down debt as well. 

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