Company and Industry Overview * **Company**: Johnson & Johnson (NYSE: JNJ) * **Industry**: Healthcare, Pharmaceuticals, Medical Technology Key Points Growth Targets and Confidence * **2025 Revenue Growth**: Johnson & Johnson aims for more than 3% revenue growth in 2025, with a focus on Innovative Medicine Group (IMG) growing 5% to 7% from 2025 to 2030. * **Confidence Source**: The company's strong performance in 2024, with total revenue growth of over 7% and EPS growth of 11%. * **Growth Drivers**: * **Innovative Medicine**: Multiple myeloma, prostate cancer, neuroscience, and pulmonary arterial hypertension franchises. * **MedTech**: Vision franchise (ACUVUE OASYS MAX), cardiovascular (PFA catheters, Impella, Shockwave), and orthopedic (VELYS robotics, OTTAVA robotic system). * **Regulatory Milestones and Data Readouts**: Nipocalimab in myasthenia gravis, TARIS in non-muscle invasive bladder cancer, oral IL-23 in psoriasis and IBD, and RYBREVANT plus LAZCLUZE in EGFR mutated NSCLC. Mergers and Acquisitions (M&A) * **Focus**: Growth MedTech assets and early-stage deals in innovative medicine. * **Investment**: Approximately $18 billion in M&A in the first half of 2024, including acquisitions of Shockwave, V-Wave, Ambrx, Proteologics, and yellow jacketing bispecific antibodies. * **Criteria**: Strategic, scientific, and financial considerations. IRA Medicare Part D Negotiations * **Impact**: Negative impact on innovation and R&D investment. * **Adaptation**: * Multiple parallel indication seeking. * Development of subcutaneous formulations for biologics. * Focus on first-in-class and best-in-class medicines. Pipeline Assets * **Oral IL-23 Inhibitor**: Phase II data in psoriasis showed impressive efficacy, with PASI 75 data around 70% and PASI 100 data around 40%. * **TREMFYA**: Phase II data in IBD showed high levels of endoscopy complete remission, with approximately 1/3 of patients showing no evidence of disease after one year. * **TAR-200**: Med device combo for bladder cancer, with unprecedented rates of complete response and breakthrough designation from the FDA. * **RYBREVANT-lazertinib**: Combination therapy for EGFR mutated NSCLC, with promising data in progression-free survival and overall survival. Other Important Points * **Obesity**: Interest in exploring differentiated assets in obesity, particularly those targeting hunger and satiation in the brain. * **Talc Litigation**: Prepackaged bankruptcy for ovarian cancer claims, with confidence in achieving the required 75% voting threshold. * **Market Positioning**: The oral IL-23 inhibitor is positioned as a treatment option for patients who do not want to use injectables or are not candidates for advanced therapies.

Biogen Inc. (NASDAQ:BIIB) Morgan Stanley’s 22nd Annual Global Healthcare Conference September 4, 2022 10:00 AM ET Company Participants Mike McDonnell – Chief Financial Officer Priya Singhal – Executive Vice President and Head-Development Conference Call Participants Terence Flynn – Morgan Stanley Terence Flynn Okay, great. I think we're going to get started, but thanks for joining us, everyone. I'm Terence Flynn, the U.S. biopharma analyst at Morgan Stanley. We're very pleased to be hosting Biogen today. Fr ...

Company and Industry Overview * **Company**: Seagate Technology Holdings plc (NASDAQ:STX) * **Industry**: Hard Disk Drive (HDD) manufacturing and storage solutions * **Event**: Citi's 2024 Global TMT Conference, September 4, 2024 Key Points Revenue and Profitability * **Revenue**: Sequential revenue growth of more than 10% expected for Q3 2024, with guidance ranging from $1.05 to $1.40 billion. * **Profitability**: Sequential profit guidance increased from $1.05 to $1.40 billion, with the midpoint of $1.25 billion expected to be surpassed. * **Driver**: Improved mix of 48TB CMR and 28TB SMR drives, along with better pricing than expected. Market Segments * **Cloud**: Cloud segment remains the primary driver of growth, with sequential improvement since September 2023. * **Enterprise OEM**: Enterprise OEM segment starting to improve, driven by server demand and potential AI applications. * **Video Image Application**: Video image application segment expected to contribute to the upcycle in the next few quarters. Demand Drivers * **Data Growth**: Continuous growth in data storage driven by various applications, including AI. * **AI**: AI expected to be a significant demand driver for HDDs, particularly in the long term. * **Capacity**: Focus on profitability and long-term demand, with disciplined capacity management to limit the impact of down cycles. Technology and Product Roadmap * **HAMR**: HAMR technology progressing well, with qualifications in multiple market segments, including enterprise OEM and video image applications. * **Capacity**: HAMR drives expected to achieve 40TB per disk by the end of 2025, with lower cost per terabyte compared to PMR drives. * **Cost**: HAMR drives expected to have similar unit cost as PMR drives, with higher capacity and improved profitability. SSD Cannibalization * **Cloud**: SSD cannibalization not significant in the cloud segment, with HDDs still dominating storage solutions. * **Enterprise**: SSD cannibalization expected to increase in the enterprise space, particularly for low-capacity drives. * **Legacy**: Legacy HDD segments (mission-critical, client, and consumer) expected to decline in importance, with focus shifting to mass capacity and HAMR drives. Capital Allocation * **Debt Reduction**: Focus on reducing debt to approximately $5 billion, with potential share buyback in the future. * **Dividend**: Dividend remains a priority for shareholder return, with protection during the down cycle.

Colgate-Palmolive Company (NYSE:CL) Barclays 17th Annual Global Consumer Staples Conference September 4, 2024 10:30 AM ET Company Participants Noel Wallace - Chief Executive Officer Conference Call Participants Lauren Lieberman - Barclays Lauren Lieberman We're going to get started. Next up this morning, I'm pleased to welcome Colgate-Palmolive's CEO, Noel Wallace, to the stage. Over the past few years, at our conference, Colgate has highlighted the capabilities that has been building that has enabled the C ...

Applied Materials, Inc. (NASDAQ:AMAT) Citi 2024 Global TMT Conference September 4, 2024 9:10 AM ET Company Participants Brice Hill – Senior Vice President, Chief Financial Officer and Global Information Services Conference Call Participants Atif Malik – Citi Atif Malik [Call Starts Abruptly] one of Citi Global TMT Conference. My name is Atif Malik. I cover U.S. semiconductors, semiconductor equipment and networking equipment stocks at Citi. It's my pleasure to welcome Brice Hill, Senior Vice President and C ...

Verizon Communications Inc. (NYSE:VZ) Bank of America's 2024 Media, Communications and Entertainment Conference September 4, 2024 8:00 AM ET Company Participants Sowmyanarayan Sampath - President & CEO Conference Call Participants David Barden - Bank of America David Barden All right. Good morning, everybody. Thanks for joining us. I'm Dave Barden. I head up US and Canada Telecom and Comm Infrastructure Research, and we're getting started a couple minutes late, but I'm really happy to be able to kick off ou ...

Air Products and Chemicals, Inc. (NYSE:APD) Jefferies Industrials Conference Call September 4, 2024 8:05 AM ET Company Participants Sidd Manjeshwar - Vice President, Investor Relations Conference Call Participants Laurence Alexander - Jefferies Laurence Alexander So good morning. It's Laurence Alexander with the Jefferies Chemicals team at the Jefferies Industrials Conference on the first day. And joining us right now is Air Products. And with us is Sidd Manjeshwar from Investor Relations. Thank you very mu ...

Summary of Home Depot Conference Call Company Overview - **Company**: The Home Depot, Inc. (NYSE: HD) - **Event**: Goldman Sachs 31st Annual Global Retailing Conference - **Date**: September 4, 2024 Key Points Industry and Market Dynamics - The housing market has faced challenges, impacting consumer behavior and spending patterns [3][4] - Home values have increased by 50% since the end of 2019, contributing to a wealth effect of approximately $18 trillion in incremental value in U.S. housing stock [5] - Personal Consumption Expenditure (PCE) remains strong, driven by low savings rates and wage growth among consumers [4][5] - Housing turnover has dramatically decreased, with a drop of about 1.5 million units over the last 18 to 24 months, leading to a significant reduction in spending on home improvement [8] Consumer Behavior - Consumers are currently hesitant to undertake larger home improvement projects due to uncertainty regarding interest rates and economic conditions [9][10] - The break/fix segment of the business remains strong, as older homes require maintenance and repairs [13][14] - There is potential for growth in repair and maintenance even if housing turnover remains low, due to pent-up demand [11][12] Financial Performance and Projections - The company anticipates a lag in recovery for housing turnover and related projects, even if mortgage rates decrease [15][16] - Home Depot is focused on taking market share and improving customer satisfaction amidst challenging market conditions [24][27] - The company has a total addressable market (TAM) of $1 trillion, with a current market share of 17% [27] Strategic Initiatives - The acquisition of SRS has expanded Home Depot's capabilities in serving complex professional customers, increasing the TAM by $50 billion [37][38] - Investments in supply chain infrastructure are expected to enhance delivery capabilities and operational efficiency [40][41] - The company plans to open approximately 25 new stores annually, addressing the fundamental shortage of housing in the U.S. [49][50] Promotional Strategies - Promotional activities have normalized to pre-pandemic levels, focusing on creating excitement and driving traffic to stores [52] Conclusion - Home Depot remains optimistic about future growth despite current market challenges, focusing on operational excellence, customer engagement, and strategic acquisitions to capture additional market share [36][38]

Western Digital Corporation (NASDAQ:WDC) Citigroup 2024 Global TMT Conference Call September 4, 2024 7:30 AM ET Company Participants Wissam Jabre - Executive Vice President & Chief Financial Officer David Goeckeler - Chief Executive Officer Conference Call Participants Asiya Merchant - Citigroup Asiya Merchant Welcome to Citi’s 2024 Global TMT Conference. My name is Asiya Merchant. I cover the tech hardware, tech supply chain here at Citi Research. We’re very pleased to have David Goeckeler and Wissam Jabre ...

Baker Hughes Company (NASDAQ:BKR) Barclays 38th Annual CEO Energy-Power Conference Call September 4, 2024 8:35 AM ET Company Participants Lorenzo Simonelli - Chief Executive Officer Conference Call Participants Dave Anderson - Barclays Dave Anderson Since the merger of the GE Oil & Gas and Baker Hughes, we've been fortunate with our front-row seat to the company's transformation as they've used our conference to roll out its annual presentation and evolving strategy each year. So, it's been an impressive jo ...