1st June
Lynch Picks: Buy Microsoft (MSFT)
On January 24, $MSFT published its most recent quarterly report. The tech giant's revenue for the second quarter of fiscal 2023, which concluded on December 31, 2022, increased by 2% year over year to $52.7 billion and outperformed expert expectations by $450 million. In addition, although its adjusted earnings per share dropped 6% to $2.32, it still beat Wall Street projections by $0.01.
Even if those growth rates were pitiful, Microsoft had previously informed investors that its fiscal 2023 growth would be slower as it dealt with macroeconomic and foreign exchange headwinds. In addition, in advance of the release of its second-quarter report, the company's intention to fire 10,000 workers, or 5% of its workforce, by the end of March helped to lower market anticipation.
The collaboration between Microsoft and OpenAI has already started to pay off. Earlier this month, the business declared that its Azure OpenAI service was generally accessible, enabling users to apply for access to, among other tools, the GPT-3 big language model AI, ChatGPT, DALL-E 2, an image-generation AI, and others.
Github Copilot, a tool powered by OpenAI that assists programmers by instantly recommending code and functions, has also been introduced. More than 1 million individuals have so far utilized GitHub Copilot. The business asserts to have the most potent cloud-based supercomputing infrastructure for AI.
Azure should continue to be the second-largest cloud infrastructure platform in the world after Amazon Web Services (AWS) for the foreseeable future. However, CFO Amy Hood cautioned that due to more significant macro headwinds.
Nevertheless, at 26.7 times forward earnings, Microsoft's stock is still attractive for long-term investors who can stomach short-term volatility.
Source: Yahoo Finance
4mo ago
Luke Adams
Fasten Your Seatbelt ✈️
Many of the biggest technological names will release quarterly profits this coming week, including Amazon.com $AMZN, Apple $AAPL, Alphabet $GOOGL, and Meta Platforms $MMAT.
The outcomes ought to provide fresh insight into the ad market and trends in consumer spending. Additionally, they will offer new perspectives on cloud computing, the most significant trend in enterprise technology.
A lot is going on this week. Chinese PMI, US non-farm payrolls, central bank rate decisions, and Q4 GDP readings are all reported simultaneously.
Source: Earnings Whispers
Airlines - Preparing For Departure
After the low-cost airline reported record profitability despite the economic slump, Ryanair $RYAAY CEO Michael O'Leary predicted that a surge of US and Asian tourists would boost demand in Europe this summer.
O'Leary claimed that early reservations indicated that the biggest airline in Europe was on course for a "good" summer, coming off of its most prosperous December quarter on record.
Despite the difficulties a year ago, Ryanair has already returned to profitability. According to chief executive Micheal O'Leary, there are "no signs" that the present economic slump will affect the airline industry.
Ryanair Holdings plc will release its Q1 FY2023 financial results. EPS of $0.91, up from $-0.48 in the same quarter last year, is what analysts are projecting.
Source: Yahoo Finance
China's Reopening
After three years of President Xi Jinping's zero-Covid policy, China is now reopening to the outside world, raising expectations of a wide economic recovery.
A $700 billion rally has been launched since the low in October 2021, and traders are already counting on increases in demand for commodities like copper, iron ore, and Chinese tech companies.
The benchmark CSI 300 index for China saw gains on Monday that lifted it more than 20% above its most recent low, qualifying as a bull market by technical standards.
However, it is far from guaranteed that the second-largest economy in the world will recover. After a spike during the epidemic, exports are predicted to be muted due to slower global economic growth in the US and Europe.
Other News
After the Anglo-Dutch consumer giant selected former Heinz leader Hein Schumacher as its new chief executive, shares of Unilever $ UL crept higher in London on Monday, beating the broader market.
As a growing group of skeptics refused to be persuaded by a 400-page denial of the allegations made last week by short-seller Hindenburg Research, the collapse in the stocks and bonds linked to Gautam Adani's enterprise gained momentum.
The announcement of the Federal Reserve's most recent interest rate decision and a deluge of company earnings this week was on traders' attention as US stock futures declined on Monday.
$TSLA stock price rose 33%, marking the company's highest week since May 2013. According to CEO Elon Musk, the firm is scheduled to produce up to 2 million automobiles in 2023.
Source: Yahoo Finance
4mo ago
Yiannis Zourmpanos
Buffet Radar: Buy American Express (AXP)
The first thing to understand about American Express is that it is a closed-loop credit provider, which means it conducts both credit issuance and transaction processing on its network. Therefore, it does not issue cards or grant credit through external banks.
Since it is a bank and a payment processor, it makes money via interest on loans, transaction fees, and annual card fees. Unlike Visa and Mastercard, which are not lenders and only make money from transaction fees, this is different.
AXP Beats Earnings
$AXP announced plans to raise its dividend by 15% and provided 2023 guidance that exceeded Wall Street expectations. The credit card business provided EPS guidance for 2023 of $11.00-$11.40 versus a consensus of $10.45. It projects annual revenue growth of 15%–17%, which translates to $60.79–$61.85 billion. The estimated amount is $58.76B.
In addition to spending, American Express has seen a significant increase in its customer base, with millennials and Gen Z as the main drivers. For example, 60% of the 3.3 million new cards issued in the third quarter belonged to the younger population—the experiences, benefits, and services of using an American Express card appeal to younger generations.
Although a recession-threatening economy may not seem like the perfect setting for customer spending and acquisition, American Express's distinctive value proposition makes it a wise investment. It serves wealthy clients who a sluggish economy won't as negatively impact. It also strongly depends on how much money people and businesses spend on travel. It recently experienced its worst spell in decades but is now recovering and returning to its pre-pandemic levels.
Source: Yahoo Finance
4mo ago
Steve Willis
Intel Moves The Market📉
Pat Gelsinger, Intel's CEO, attributed the most recent decline in the company's financial outlook to "continued macro headwinds" and a considerably steeper chip inventory correction than anticipated.
Although $INTC did not provide financial guidance for the remainder of the year, Gelsinger expressed optimism for a comeback in the second half of 2023 due to a resurgence in China's economy and rising demand from major corporations the government.
Intel anticipates a Q1 loss of 15 cents per share, excluding one-time items, with revenue expected to range between $10.5 billion and $11.5 billion. Additionally, the company anticipates gross margins to be lower than 40%, at 39%.
The extent of the decline in the financial results was described as "shocking" by Bernstein analyst Stacy Rasgon, who has assigned Intel an underperforming rating. She also expressed concern for the company's cash position.
$INTC is in red with -9.4% in pre-market trading sessions.
Source: Yahoo Finance
More On Earnings & Economy
$INTC $V and $HAS all made after-hours moves due to Intel's earnings exceeding expectations and Visa's 15% job cut, respectively.
After a good US GDP and yet another solid batch of corporate earnings, US stocks rose. Initial jobless claims dropped to 187,000, the lowest level since April 2022, while new home sales were up 2.3% in Q4. In addition, the US GDP increased by 2.9% YoY. The data indicate that the US economy is strong.
The high pace of inflation justifies the Federal Reserve's decision to keep raising interest rates.
The indexes gave up gains made earlier in the week at the start of trading on Wednesday due to disappointing quarterly earnings reports from software maker $MSFT, defense contractor $BA, and medical products supplier Abbott Laboratories $ABT, as well as a cautious business outlook provided by diversified company $MMM.
Adani sell-off $50b
The flagship company of the Adani Group had a 17% decline in shares on Friday due to short seller claims of fraud involving one of the wealthiest men in the world's business empire.
As the Indian tycoon moves forward with an Rs200 billion ($2.4 billion) share sale meant to draw foreign investors, other companies connected to Gautam Adani's conglomerate also experienced a steep decline.
The billionaire hedge fund manager Bill Ackman praised Hindenburg's analysis on Thursday, calling it "very credible" and "really well researched."
Other News
$V shares increased 1.5% after the company posted earnings that exceeded expectations. $2.18 adjusted EPS and $7.94 billion in revenue exceeded expectations of $2.01 and $7.70 billion, respectively.
Shares fell sharply when toymaker Hasbro announced it was laying off 1,000 employees, or 15% of its workforce. Furthermore, a poor fourth-quarter performance was forecast.
The cost of Brent and Crude oil is unchanged. The main discussion topics are the OPEC conference and potential supply changes. There are already conflicting rumors in circulation. Although OPEC is unlikely to alter its supply, uncertainty still exists.
4mo ago
Yiannis Zourmpanos
Lynch Picks: Buy Mastercard (MA)
Mastercard Inc.'s forecast for current-quarter revenue growth fell short of Wall Street expectations, escalating worries that the card company would face significantly harsher conditions in 2023 as the economy faltered.
With widespread layoffs and consumer apprehension over a potential recession, the economy has started to show some indications of slowing down after the Federal Reserve raised rates for most of last year. A large corporation like $MA won't have the fastest rate of return on investment. What a large company might lack in aggressive expansion can more than makeup for a successful business. Mastercard only pays a dividend that yields 0.6% annually despite having such strong margins.
However, the business does buy back a significant share to reward shareholders. Mastercard announced a $9 billion repurchase program, which will support the increase of the company's adjusted earnings per share increase in the following quarters.
Additionally, markets outside the US account for a more significant portion of Mastercard's revenue. Depending on how the global economy performs over the coming year and how trends play out in various regions, this may very well be a drawback in the short term. Still, Mastercard's business' geographic distribution may also position it better to benefit from the expansion of the world middle class in the long run.
$MA is poised to grow in the foreseeable future due to its solid competitive stance and alluring long-term growth prospects. Mastercard has a forward price-to-earnings ratio of about 36, with favorable long-term prospects.
Source: Yahoo Finance
4mo ago
Luke Adams
Heading For A Soft-Landing?🤔
The index fell due to $MSFT shares and other tech firms like $AAPL and $AMZN. In addition, Outlook, Teams, and Azure were all impacted by a network outage at Microsoft. Meanwhile, $META and $GOOG are quaking in their boots at the MSFT ChatGPT deal.
The New York Fed and Global Banking Giants tested the digital dollar for a 12-week trial, making it a reality. $C, $HSBC, $MA, and $WFC are among the corporations taking part. The controlled liability network project will make use of fictitious data. Your privacy will be compromised, you'll have less spending power, and your government will have more influence over your money.
More On US
US economic growth is set to have slowed in the final quarter of 2022, as the Federal Reserve's aggressive campaign to raise borrowing costs weighed more heavily on consumer spending and business activity.
The Federal Reserve's vigorous push to raise borrowing prices started to have an increasingly negative impact on corporate activity in the final quarter of 2022, which caused a slight slowdown in US economic growth.
According to figures released by the Department of Commerce on Thursday, the largest economy in the world grew by 2.9% on an annualized basis between September and December, which was slightly higher than the 2.6% gain predicted by economists.
According to Bank of America's $BAC, the US economy will have a "harder landing" in Q1 2023, with a loss of 175,000 jobs each month. The bank also anticipates a decline in nonfarm payroll increases this year.
But tomorrow's Personal Consumption Expenditures (PCE) data, the Fed's preferred inflation indicator, is what everyone eagerly anticipates. Investors anticipate seeing the same inflation reduction with the PCE report after better-than-anticipated inflation statistics via the CPI and PPI surveys over the last two weeks.
Tesla Beats
With record-breaking revenue of $24.32 billion and a profit of $1.19 per share, Tesla's Q4 profits exceeded expectations. The firm also declared a net income of $4.1 billion, which indicates adequate liquidity for plans, along with an announcement that Cybertruck manufacturing is on schedule to begin later this year.
$TSLA is nearly 9% in the pre-market trading session.
Source: Yahoo Finance
Other business news
$BA was down as the business reported a surprising decline in profits per share and a shortfall in Q4 revenue. It missed projections and reported a loss for the second straight quarter despite a 35% YoY growth in revenue.
After revealing that the number of wireless customers for the fourth quarter was higher than expected, $T, a major telecommunications firm, saw a rise in its stock price.
Following Q4 revenue of $16.69 billion, slightly higher than anticipated, $IBM shares increased. The earnings per share met expectations. 3.900 jobs, or 1.5% of the company's employees, will be lost.
Source: Yahoo Finance
4mo ago
Yiannis Zourmpanos
Buffet Radar: Energy Transfer (ET)
Last year, the energy market improved conditions, benefiting Energy Transfer. The volume of oil and gas flowing through the company's pipeline system and other assets increased due to producers being encouraged by higher oil and gas prices to enhance their output. Acquisitions and expansion initiatives were advantageous to $ET as well.
Due to these drivers, Energy Transfer's third-quarter profitability and cash flow increased by 20%. They also placed the business on track to outperform its initial projection for full-year earnings. With room to spare, the MLP was able to generate enough cash flow to pay off its debt and finance its high-yielding distribution and expansion program.
The business of Energy Transfer is getting more robust, and the company is making a ton of cash, which allows it to pay out a sizable distribution, finance development plans, and pay down debt. The corporation should be able to keep increasing its cash flow and distribution in the future because of those last two attributes. This makes it a very appealing purchase for individuals looking for a sizable passive income stream that should increase in size over the next few years.
Last year, Energy Transfer put on an incredible comeback. The MLP had to reduce its distribution in 2020 to strengthen its balance sheet, but after getting its finances in order last year, it could give investors more money back.
Energy Transfer is working on several growth projects and has more planned, which could allow it to keep raising its payout. If the company can maintain its dividend growth, it should have the means to generate total returns that outperform the market in the years to come. Because of this, it can be a desirable choice for people looking for income and upside possibilities.
Source: Yahoo Finance
4mo ago
Steve Willis
More Earnings 📊
Utilities, healthcare, and consumer staples are at the bottom of the standings so far this year because they are the most defensive industries. Furthermore, the riskiest, most volatile, and previously battered enterprises and subsectors lead the way in the booming sectors.
The video entertainment businesses (Warner Bros. Discovery, Paramount, Disney, Netflix, and others) in the communications sector account for most of the outperformance. They are still engaged in a fierce knife fight in the meantime.
The market leaders in consumer discretionary are the casino and travel industries. On the other hand, the technology and materials industries are supported by super cyclical like chips, chemicals, and steel.
ASML Earnings But Warns
Considering that $ASML recorded a record order backlog of over €40 billion and projected sales growth of 25% this year, the company's CEO anticipates semiconductor demand to rebound in the year's second half.
The Dutch holding continues to serve as the industry's top supplier of advanced lithography scanners for semiconductor chip manufacturing.
The business outperformed experts' predictions in the most recent quarter, reporting sales of 6.43 billion euros and a net income of 1.82 billion euros. The management of ASML anticipates a 25% growth in sales for the current year.
As the US asks allies from Japan to the Netherlands to assist in limiting China's access to crucial semiconductor technologies, $ASML CEO Peter Wennink warned that overbearing controls could increase prices for chipmakers.
Source: Yahoo Finance
Apple-Google A Silent War
$AAPL is taking steps to distance its mobile operating system from services provided by $GOOG, the company that owns Google. Its maps, search, and advertising advancements have set the Big Tech companies on a collision path.
Former Apple engineers claim that the company is steadfastly striving to remove Google from the iPhone because of its alleged theft of iOS by Android.
Source: Photo by Pixabay
Volatility Ahead?
In recent commodity news, oil prices jumped yesterday as demand grew due to China's economy reopening after the country abandoned its zero COVID-19 policy.
US Treasury Bond rates decreased across maturities on the fixed-income boards as traders shifted to the safe-haven asset.
The demand for options protection slowed down a little yesterday, which caused the VIX, or Chicago Board Options Exchange Volatility Index, to decline.
Other News
Xi Jinping will confirm some appointments to critical positions governing the world's most populous nation and burgeoning military might during the March lianghui, the combined meetings of China's rubber-stamp parliament and political advisory council.
When $TSLA recently reduced the price of various models across several geographies, it shook the car industry. Elon Musk decided to boost demand after the company reported weaker-than-anticipated deliveries at the end of the year.
$MSFT may have outperformed the market in earnings, but the company's sales growth was at its weakest rate since 2016, and its outlook suggested that the negative trends would persist.
Source: Yahoo Finance
4mo ago
Yiannis Zourmpanos
Buffet Radar: Buy HP (HPQ)
That HP's consumer-facing PC and printing industries, which both saw growth spikes during the pandemic as more people worked from home, are currently experiencing supply chain issues and cyclical slowdowns in a post-lockdown market, were not a surprise given the lackluster growth rates.
Even as its near-term revenue growth slows, $HPQ steady growth rates, low valuation, and high yield should limit its downside risk. As a result, over the next 12 months, it probably won't provide significant gains. Still, it should hold steady or gradually rise as investors turn to cheaper dividend companies due to rising interest rates and other economic challenges.
It will certainly still see a severe decline throughout fiscal 2023, though. Revenue at HP has already decreased year over year for two straight quarters, and growth won't pick up soon. Moreover, Lores anticipated on the call that global PC sales would drop 10% the following year and level off before the pandemic.
That's a little more pessimistic than other sector predictions. For instance, according to IDC, sales of PCs and tablets would drop 2.6% in calendar 2023 before increasing again in 2024. The research company predicts that when the sector recovers from the pandemic between 2022 and 2026, the market will develop at a meager CAGR of 0.8%.
A weak PC market, though, isn't HP's only issue. Long upgrade cycles, paperless offices, and competition from generic ink and toner vendors will likely continue to constrain its printing industry. Expanding its more recent 3D and metal printing businesses may help HP reduce some of that pressure. Still, the consumer and commercial sectors account for most of their printing sales.
Over the previous two years, HP has thrown money at shareholders in dividends and share buybacks. Dividend payments totaled $2 billion in fiscal years 2021 and 2022, while share repurchases increased by almost $10 billion. HP borrowed money to pay for a portion of this expenditure, and HP had $11.2 billion in debt and $3.2 billion in cash at the end of the fiscal year 2022.
The temporary headwinds won't last forever, and the stock has much pessimism. However, with a P/E of just 9.3 and a 3.7% dividend yield, $HPQ remains undervalued.
Source: Yahoo Finance
4mo ago
Steve Willis
Lynch Picks: Buy Microsoft (MSFT)
Microsoft recently disclosed a fresh round of funding for privately held OpenAI, a developer of artificial intelligence (AI) products. The digital behemoth will inject cash into the AI firm for the third time. Not surprisingly, $MSFT offers a wide range of software products and will use OpenAI's capabilities for its industry-leading Azure cloud computing platform.
The most well-known product from OpenAI is ChatGPT, an AI-powered chatbot that can produce articles and poems with little to no human interaction. Some worry that its capacity to produce these works would endanger the ability of those who earn a living by producing such things to support themselves.
Although the corporation said on Monday that it was investing billions of dollars in a "multi-year" partnership, specific financial information has not been made public. According to those familiar with the negotiations, OpenAI was asking Microsoft for $10 billion at a $29 billion valuation.
Azure Cloud
Microsoft Azure is the second-largest cloud vendor in the world, and the business is expanding. Its success is attributable to its emphasis on hybrid computing, a comprehensive set of developer tools, state-of-the-art database options, and market-dominating machine learning applications. The company's Azure section climbed 26% in the most recent quarter, offsetting a 15% decline in the Windows segment. So over the coming years, expect results that are similarly excellent overall.
Conclusion
By the beginning of 2023, that valuation fell to less than nine times revenues, close to a three-year low. But, of course, a downturn in business and consumer spending would describe any recession during the coming quarters.
In summary, Microsoft holds a dominant position in a variety of markets, the majority of which are anticipated to register double-digit growth through the end of the decade as period Microsoft shareholders could anticipate double-digit revenue growth over the same period, possibly between 15-20% annually. Its current valuation looks favorable, and $MSFT is well-positioned to grow in the following years.
Source: Yahoo Finance
4mo ago
Luke Adams
Watch Out For Tech Earnings
The fourth-quarter earnings season is well underway, and this week numerous large-cap firms, including Microsoft $MSFT, AT&T $T, Tesla $TSLA, Intel $INTC, Visa $V, and American Express $AXP, will announce their results.
However, the market is more focused on the earnings guidance from management and whatever information they can offer regarding their corporate prospects. Most economic reports have shown that the economy is faltering and that Corporate America's earnings are slowing down.
As the earnings season for this important sector of the US equities market gets underway, tech stocks drove the market higher, pushing the S&P 500's 10% gain from October to the limit.
Spotify $SPOT has reduced its personnel by about 6%. Today, Microsoft will announce its financial results as the behemoth prepares to invest billions in OpenAI.
Source: Earnings Whispers
More From Tech
The activist investor Elliott Management purchased a stake in Salesforce $CRM and stated that it would "working constructively with Salesforce to realise the value befitting a company of its stature." But, of course, Salesforce is hardly the only large-cap tech company. In recent months, activists have also pounded on the doors of $META and $GOOG.
Due to the increasing demand for its graphics chips, which are required for AI applications like ChatGPT, an open-source chatbot, $NVDA stock has surged 29% since the year's beginning. As demand for additional computational power rises in tandem with the popularity of the bot, Nvidia's goods are in higher demand.
Source: Yahoo Finance
Europe Had A Good Start
Europe Had A Good Start As traders assessed earnings reports and the likelihood of interest rate increases in the region, European equities increased at the start of the week.
The Stoxx Europe 600 finished 0.5% higher. As chemical stocks declined as Symrise AG plummeted due to a larger-than-expected margin failure, tech shares took the lead.
Due to worries about the profitability of the clothes and home sector, Marks & Spencer Group PLC also declined after receiving a downgrade from Numis.
Other News
Corporate restructuring professionals have warned that insolvency risks are becoming a greater threat to the UK due to a mix of inflation and debt accumulated during the epidemic that has increased the number of distressed businesses.
Bitcoin's value rose to $23,100 on Monday, a 39% increase since January, as traders anticipate a potential interest rate cut by the Federal Reserve. The No. 2 digital coin, Ether, also saw gains, reaching $1,665 on Saturday, the first time it exceeded $1,600 since November 7, 2022. It is currently trading at $1,637.
Goldman Sachs Group $GS plans to reduce its $59 billion of alternative investments and replace them with outside capital over the next few years. Julian Salisbury, the bank's chief investment officer, said the move would improve earnings.
LVMH and Kering will announce Q4 results soon; UBS predicts 7% growth for LVMH and a 2% drop for Kering. Hermes is expected to report 17% growth, down from 24% in Q3. In addition, COVID disruptions in China will affect their results.
Source: Yahoo Finance
4mo ago
Yiannis Zourmpanos
Tech Stocks' Week
Stocks closed Friday in the green after a week of choppy trading, with tech stocks taking the lead.
The Nasdaq saw its third straight week of increases, while $NFLX and $GOOG both saw rises. The yield on bonds increased from their four-month lows as well.
However, the S&P 500 and Dow Jones Average also fell, snapping a two-week gaining trend.
Investors will eagerly monitor as the US tech sector's earnings season approaches to see how declining profitability will impact the Nasdaq 100 Stock Index firms. In response to slu, sluggish sales, $MSFT, $AMZN, and $GOOG have already started layoffs.
It is unclear how the tech-heavy Index will perform in the upcoming week.
Source: Photo by Pixabay:
Microsoft Invests Billions in ChatGPT
The founder of ChatGPT bots, OpenAI, has received confirmation of a "multibillion-dollar investment" from $MSFT, marking the tech giant's greatest wager yet that artificial intelligence systems have the potential to alter its business model and range of goods completely.
Although the business said on Monday that it was investing billions of dollars in a "multi-year" partnership, specific financial information has not been made public. According to those familiar with the negotiations, OpenAI was asking Microsoft for $10 billion at a $29 billion valuation.
Microsoft recently announced that it would soon introduce ChatGPT functionalities to its cloud computing service, Azure, due to its current exclusive agreement with OpenAI. As a result, businesses might use the capabilities directly within their apps and services if ChatGPT is available on that platform.
Source: Yahoo Finance
US markets advance amidst modest FED rate increase
The market is only anticipating a 25 basis point increase, down from the last 50 bps increase and the four 75 bps increases.
The midpoint of the Fed Funds rate would change by 25 basis points to 4.63%. With only two additional increases of 25 basis points needed to reach their anticipated terminal rate of approximately 5.10%.
Investors' growing confidence that the Federal Reserve would increase rates by a quarter percentage point when it meets next week helped push US stocks up on Monday.
Other News
Elliott Management has amassed a multibillion-dollar stake in $CRM, becoming the latest major activist investor to join the list of shareholders of a software company under pressure to reduce expenses and boost its stock price.
As Google abruptly announces layoffs, many are blocked from access, shocking staff members. They rush to identify those who were impacted and press leadership for information. On the move, vocal employees challenge the leadership.
Disney's "Avatar: The Way of Water" is the sixth-highest-grossing film, with over $2 billion worldwide box office receipts. "Titanic," his other film, is also in the top two.
The sector's regulator, the Prudential Regulation Authority of the Bank of England, put 16 life insurers through a stress test that included credit downgrades and longer life expectancies. It judged them to be resilient but warned that their assumptions carried the risk of being overconfident in conclusions released on Monday.
4mo ago
Yiannis Zourmpanos
