The Goldman Sachs Group, Inc. (NYSE:GS) Bernstein's 40th Annual Strategic Decisions Conference May 30, 2024 8:00 AM ET Company Participants John Waldron - COO and President Conference Call Participants Unidentified Analyst All right. Good morning, everyone, and thanks for making it in again for the second day. We'll get started here with our first session for the day. We have Goldman Sachs again. Representing Goldman, we have John Waldron, Chief Operating Officer and President. Thank you, John. I think you ...

Micron Technology, Inc. (NASDAQ:MU) Goldman Sachs’ Global Semiconductor Conference May 30, 2024 8:20 AM ET Company Participants Sumit Sadana - Chief Business Officer Conference Call Participants Toshiya Hari - Goldman Sachs Toshiya Hari Good morning, everyone. My name is Toshiya Hari. I cover the U.S. Semiconductor and Semiconductor Cap Equipment Space. Very honored, very excited to have Sumit Sadana from Micron. He's the Chief Business Officer for the company. Sumit, thank you so much for supporting the c ...

Summary of Warner Bros. Discovery, Inc. Conference Call Company Overview - **Company**: Warner Bros. Discovery, Inc. (NASDAQ: WBD) - **Event**: Bernstein's 40th Annual Strategic Decisions Conference - **Date**: May 30, 2024 Key Points Industry and Company Integration - Warner Bros. Discovery is a storytelling company that has been integrating two large companies over the past two years, focusing on cost efficiencies and growth [3][2] - The company emphasizes the importance of high-quality content and has a diverse library of intellectual property (IP) [6][7] Content Production and Quality - The company has consistently produced high-quality content, including popular series like "Succession," "Game of Thrones," and "The Last of Us" [5][6] - The strength of the company lies in its creative team and established IP, which includes franchises like DC Comics and Harry Potter [6][7] Global Expansion and Scale - Warner Bros. Discovery aims to expand its streaming service, Max, globally, with a focus on local content and languages [10][12] - The company expects that two-thirds of its future subscribers will come from outside the U.S., indicating a shift towards international growth [12][11] Bundling and Consumer Experience - The company is exploring bundling opportunities with Disney and Fox to enhance consumer experience and reduce churn [15][14] - Bundling is seen as a way to provide a better consumer experience by offering multiple content options in one place [23][20] Financial Health and Strategy - Warner Bros. Discovery has improved its financial health, generating over $6 billion in free cash flow and paying down $15 billion in debt [32][31] - The company is focused on maintaining a healthy balance sheet while pursuing global expansion and content quality [32][34] Future Outlook - The CEO believes that the future of the company lies in its ability to deliver high-quality content globally, which will drive growth [58][57] - There is an expectation of consolidation in the media industry, with fewer global streaming players emerging over the next few years [36][37] CNN and News Strategy - CNN is viewed as a strong asset for Warner Bros. Discovery, focusing on its global brand and trusted news reporting [52][54] - The company aims to leverage CNN's extensive journalist network to enhance its digital business and credibility [53][54] Sports Programming - Warner Bros. Discovery continues to evaluate its sports programming strategy, including negotiations with the NBA, while also expanding its offerings in other sports [45][46] - The company is strategically adding sports content to maintain a robust offering across its platforms [47][49] Additional Insights - The CEO emphasizes the importance of storytelling and attracting top creative talent as key to the company's success [30][33] - The company is committed to being a global player in the media landscape, focusing on both content creation and distribution [41][43]

Hello. Thank you for standing by and welcome to the Box, Inc. First Quarter Fiscal 2025 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, please press star 1 on your telephone keypad. I would now like to turn the conference over to Cynthia Hipponia, Vice President, Investor Relations. You may begin. Good afternoon and welcome to Box's fir ...

QUALCOMM Incorporated (NASDAQ:QCOM) Bernstein's 40th Annual Strategic Decisions Conference Call May 23, 2024 2:30 PM ET Company Participants Cristiano Amon - President & Chief Executive Officer Conference Call Participants Stacy Rasgon - Bernstein Stacy Rasgon Good afternoon, everyone. I hope you had a good lunch. Thank you for coming. I'm Stacy Rasgon. I'm Bernstein's senior research analyst for U.S. semiconductors. And I really can't express what an honor it is to have our guest here today, Cristiano Amon ...

Western Digital Corporation (NASDAQ:WDC) Goldman Sachs Global Semiconductor Conference May 29, 2024 3:20 PM ET Company Participants David Goeckeler - CEO Wissam Jabre - CFO Conference Call Participants Toshiya Hari - Goldman Sachs Toshiya Hari All right. We'd like to get started. Welcome, everyone. My name is Toshiya Hari. I cover the U.S. semiconductor space for Goldman Sachs. Very excited to have the team from Western Digital with us for the session. We have David Goeckeler, CEO. We also have Wissam Jabre ...

Mastercard Incorporated (NYSE:MA) Bernstein Strategic Decisions Conference May 29, 2024 1:30 PM ET Company Participants Sachin Mehra - Chief Financial Officer Conference Call Participants Harshita Rawat - Bernstein Harshita Rawat Good afternoon, everyone. I'm Harshita Rawat, Bernstein Senior Analyst covering payments, and I'm delighted to be joined today by Sachin Mehra, Mastercard CFO. Sachin, thank you so much for joining us today. Sachin Mehra Thank you for having me here, Harshita. Question-and-Answer S ...

Cardinal Health, Inc. (NYSE:CAH) Leerink Partners Healthcare Crossroads Conference May 29, 2024 10:00 AM ET Company Participants Matt Sims - Head, IR Aaron Alt - CFO Conference Call Participants Michael Cherny - Leerink Partners Michael Cherny Great. We'll get started now. Good morning, everyone. Welcome to the session of the Leerink Healthcare Crossroads Conference. I'm Mike Cherny, the Healthcare Tech and Distribution Analyst. Much more importantly, we have Cardinal Health CFO, Aaron Alt; and Head of IR, ...

FedEx Corporation (NYSE:FDX) Bernstein's 40th Annual Strategic Decisions Conference May 29, 2024 1:30 PM ET Company Participants Jeni Hollander - IR Raj Subramaniam - President, CEO, and Director Conference Call Participants David Vernon - Bernstein David Vernon All right. Good afternoon, everyone. Welcome to the first afternoon session. My name is David Vernon, I cover transports and airlines at Bernstein. We are thrilled to have for the first time in my 10 or 15 years covering the company, FedEx is joinin ...

Key Points Industry/Company - **Company**: NXP Semiconductors N.V. (NASDAQ:NXPI) - **Industry**: Semiconductor, Automotive, Communication Infrastructure Core Points and Arguments - **Handling the Cycle**: NXP managed the cycle with stability by maintaining lean channel inventory and working with direct customers to manage inventory levels. - **Growth Confidence**: Confidence in second half growth comes from direct customer digestion processes, company-specific ramps, and improved distribution trends in China. - **Channel Refill**: Channel refill will be methodical, starting at 1.7 months in Q2 and potentially increasing in Q3 and Q4, but not reaching 2.5 months in 2024. - **Inventory Management**: Inventory levels are expected to remain around 144 days of inventory on the balance sheet, with a focus on maintaining low inventory levels and high inventory turnover. - **Software-Defined Vehicle**: NXP is excited about the software-defined vehicle trend, with a focus on S32 core ride family and its compatibility across various processing levels. - **Content Expansion**: NXP's content expansion in the software-defined vehicle includes radar, electrification, and S32 family products. - **Competitive Environment**: NXP sees Renesas as the primary competitor in the S32 family, with Infineon and ST focusing on zonal players. Microchip and TI are not considered direct competitors. - **China Market**: NXP is working with local fabs and partners to ensure a secure supply chain in China, while maintaining a competitive cost structure. - **Gross Margins**: Gross margins are expected to remain at the high end of the current model, with tailwinds from distribution channel refill, improved utilization rates, and expansion into mass market distribution. - **Pricing**: Pricing is expected to remain neutral in 2024, with potential for low single-digit annual price declines in 2025 and beyond. - **Capital Allocation**: Capital allocation strategy focuses on returning excess free cash flow to shareholders through dividends and share buybacks. Other Important Points - **Direct Customer Relationships**: NXP is working closely with OEMs and engineers to develop software-defined vehicle solutions. - **R&D Resources**: NXP is investing in software engineers and computer science engineers to support the software-defined vehicle trend. - **Manufacturing**: NXP is exploring joint ventures and partnerships for external manufacturing, with a focus on maintaining a competitive cost structure. - **IP Protection**: NXP is taking steps to protect intellectual property during manufacturing in China, including working with trusted fabs and partners.