. >> bring in managing director doug freeman live in san francisco. doug, great to have you with us. what did you make of the quarter overall and what do you recommend tomorrow morning if clients buy intel? >> when looking at the quarter i would start with saying, first of all, the news is definitely better than expected. the dproesz margin is being guided up in the second quarter is really quite a nice surprise. the other surprise was the capital equipment cut where they cut cap x down to 8.7. that really drives increased cash flow. that's what investors are really looking for right now. >> so, what does that mean? i mean, better than, better than low expectations. what is the bottom line there, doug? >> the bottom line is the stock is definitely looking very attractive in the low 30s at this point. >> what do they need to do from this point on? i mean we are talking here on the desk about possible mna activity. because we're going to start losing visibility, also, into their mobile business when they combine that with the pc group, right? so, what ar