iHub News
1月前
Coherent (COHR) tops revenue expectations in Q3 as AI demand accelerates, shares declineMay 7, 2026 7:08 AM
IH Market News Coherent (NYSE:COHR) reported stronger third-quarter revenue on Wednesday, supported by rising demand tied to AI data center infrastructure and communications markets.The company generated quarterly revenue of $1.81 billion, up 21% from a year earlier and slightly ahead of the analyst consensus estimate of $1.78 billion.Despite the revenue beat, shares fell around 3% in premarket trading Thursday as investors focused on slower-than-expected margin improvement. AI infrastructure demand continues to drive growth “As AI datacenter infrastructure continues to scale, we are rapidly expanding capacity to meet demand. With the breadth of our photonic technology portfolio and our manufacturing scale, we believe Coherent is uniquely well positioned to capitalize on this multi-year growth opportunity,” said Jim Anderson, CEO of Coherent.On an adjusted basis, the company posted earnings per share of $1.41, matching analyst expectations.Adjusted gross margin increased by 105 basis points year-over-year to 39.6%. Analysts focus on margin progression Analysts at Barclays said, “GMs are only up ~100bps Y/Y in March despite more DC revenue, business exits, and volume increases.”“We think this will continue to be a point of focus, but COHR is pushing in the right direction and is well positioned for the upcoming AI capex buildout,” they added.Stifel analysts also highlighted gross margin trends as a key concern among investors following the company’s quarterly report.While acknowledging that margins continue to improve, the analysts said incremental gains “does not appear to reflect y/y revenue growth and other factors such as improving 6-in yields and exits from lower margin businesses.”Over the longer term, Stifel said it believes “an improving margin trajectory is durable.” Datacenter and communications lead segment growth The datacenter and communications business remained Coherent’s primary growth engine during the quarter, generating $1.36 billion in revenue.Meanwhile, industrial segment revenue declined compared with the prior year period. Fourth-quarter guidance comes in ahead of expectations For the fourth quarter, Coherent forecast revenue between $1.91 billion and $2.05 billion, above the analyst consensus estimate of $1.9 billion.The company also projected continued margin expansion and earnings growth, reflecting confidence in sustained demand across AI and communications infrastructure markets. More about Coherent Coherent develops photonics and laser technologies used across industries including telecommunications, semiconductors, industrial manufacturing, and AI data centers. The company supplies optical networking components, lasers, and advanced materials that support high-speed data transmission and next-generation computing infrastructure.Coherent stock price Original: Coherent (COHR) tops revenue expectations in Q3 as AI demand accelerates, shares decline
US Market News
3月前
Vertiv Holdings, Lumentum Holdings, Coherent, and EchoStar Set to Join S&P 500; Others to Join S&P 100, S&P MidCap 400, and S&P SmallCap 600March 6, 2026 6:39 PM
PR Newswire (US)
NEW YORK, March 6, 2026 /PRNewswire/ -- S&P Dow Jones Indices ("S&P DJI") will make the following changes to the S&P 100, S&P 500, S&P MidCap 400, and S&P SmallCap 600 indices:
NAPCO Security Technologies Inc. (NASD: NSSC) will replace Alexander & Baldwin Inc. (NYSE: ALEX) in the S&P SmallCap 600 effective prior to the opening of trading on Friday, March 13. An investor group comprised of MW Group and funds affiliated with DivcoWest and Blackstone Real Estate is acquiring Alexander & Baldwin in a deal that is expected to close soon, pending final closing conditions.The following changes to the S&P 100, S&P 500, S&P MidCap 400, and S&P SmallCap 600 will take effect before the market opens on Monday, March 23, as part of the quarterly rebalance. The changes ensure that each index is more representative of its market–capitalization range. The companies being removed from the S&P SmallCap 600 are no longer representative of the small–cap market space.Following is a summary of the changes that will take place prior to the open of trading on the effective date:Effective
DateIndex Name ActionCompany NameTickerGICS SectorMar 13, 2026S&P SmallCap 600AdditionNAPCO Security Technologies NSSC Information Technology Mar 13, 2026S&P SmallCap 600DeletionAlexander & Baldwin ALEX Real EstateMar 23, 2026S&P 100AdditionMicron TechnologyMU Information Technology Mar 23, 2026S&P 100AdditionLam ResearchLRCX Information Technology Mar 23, 2026S&P 100AdditionApplied MaterialsAMAT Information Technology Mar 23, 2026S&P 100AdditionGE VernovaGEV Industrials Mar 23, 2026S&P 100DeletionPayPal HoldingsPYPL Financials Mar 23, 2026S&P 100DeletionAmerican Intl GroupAIG Financials Mar 23, 2026S&P 100DeletionMetlifeMET Financials Mar 23, 2026S&P 100DeletionTargetTGT Consumer Staples Mar 23, 2026S&P 500AdditionVertiv HoldingsVRTIndustrialsMar 23, 2026S&P 500AdditionLumentum Holdings LITEInformation TechnologyMar 23, 2026S&P 500AdditionCoherentCOHRInformation TechnologyMar 23, 2026S&P 500AdditionEchoStarSATSCommunication ServicesMar 23, 2026S&P 500DeletionMatch Group MTCHCommunication ServicesMar 23, 2026S&P 500DeletionMolina HealthcareMOHHealth CareMar 23, 2026S&P 500DeletionLamb Weston Holdings LWConsumer StaplesMar 23, 2026S&P 500DeletionPaycom Software PAYCIndustrialsMar 23, 2026S&P MidCap 400AdditionSolstice Advanced Materials SOLSMaterialsMar 23, 2026S&P MidCap 400AdditionSiTime SITMInformation TechnologyMar 23, 2026S&P MidCap 400AdditionMoog MOG.AIndustrialsMar 23, 2026S&P MidCap 400AdditionInterDigital IDCCInformation TechnologyMar 23, 2026S&P MidCap 400AdditionVicor VICRIndustrialsMar 23, 2026S&P MidCap 400AdditionCareTrust REIT CTREReal EstateMar 23, 2026S&P MidCap 400DeletionLumentum Holdings LITEInformation TechnologyMar 23, 2026S&P MidCap 400DeletionCoherent COHRInformation TechnologyMar 23, 2026S&P MidCap 400DeletionEchoStar SATSCommunication ServicesMar 23, 2026S&P MidCap 400DeletionZoomInfo Technologies GTMCommunication ServicesMar 23, 2026S&P MidCap 400DeletionASGN ASGNInformation TechnologyMar 23, 2026S&P MidCap 400DeletionKemper KMPRFinancialsMar 23, 2026S&P SmallCap 600AdditionMatch Group MTCHCommunication ServicesMar 23, 2026S&P SmallCap 600AdditionMolina HealthcareMOHHealth CareMar 23, 2026S&P SmallCap 600AdditionLamb Weston Holdings LWConsumer StaplesMar 23, 2026S&P SmallCap 600AdditionPaycom Software PAYCIndustrialsMar 23, 2026S&P SmallCap 600AdditionVSE VSECIndustrialsMar 23, 2026S&P SmallCap 600AdditionArgan AGXIndustrialsMar 23, 2026S&P SmallCap 600AdditionRithm Capital RITMFinancialsMar 23, 2026S&P SmallCap 600AdditionLyft LYFTIndustrialsMar 23, 2026S&P SmallCap 600AdditionLaureate Education LAURConsumer DiscretionaryMar 23, 2026S&P SmallCap 600AdditionLife Time Group Holdings LTHConsumer DiscretionaryMar 23, 2026S&P SmallCap 600AdditionLife360 LIFInformation TechnologyMar 23, 2026S&P SmallCap 600AdditionSphere EntertainmentSPHRCommunication ServicesMar 23, 2026S&P SmallCap 600AdditionZoomInfo Technologies GTMCommunication ServicesMar 23, 2026S&P SmallCap 600AdditionASGNASGNInformation TechnologyMar 23, 2026S&P SmallCap 600AdditionKemper KMPRFinancialsMar 23, 2026S&P SmallCap 600DeletionSolstice Advanced Materials SOLSMaterialsMar 23, 2026S&P SmallCap 600DeletionSiTimeSITMInformation TechnologyMar 23, 2026S&P SmallCap 600DeletionMoog MOG.AIndustrialsMar 23, 2026S&P SmallCap 600DeletionInterDigital IDCCInformation TechnologyMar 23, 2026S&P SmallCap 600DeletionVicor CorpVICRIndustrialsMar 23, 2026S&P SmallCap 600DeletionCareTrust REIT CTREReal EstateMar 23, 2026S&P SmallCap 600DeletionDave & Buster's Entertainment PLAYConsumer DiscretionaryMar 23, 2026S&P SmallCap 600DeletionSunCoke Energy SXCMaterialsMar 23, 2026S&P SmallCap 600DeletionAH Realty Trust AHRTReal EstateMar 23, 2026S&P SmallCap 600DeletionSummit Hotel Properties INNReal EstateMar 23, 2026S&P SmallCap 600DeletionKKR Real Estate Finance Trust KREFFinancialsMar 23, 2026S&P SmallCap 600DeletionBloomin' Brands BLMNConsumer DiscretionaryMar 23, 2026S&P SmallCap 600DeletionMyriad Genetics MYGNHealth CareMar 23, 2026S&P SmallCap 600DeletionCars.com CARSCommunication ServicesMar 23, 2026S&P SmallCap 600DeletionANGI ANGICommunication ServicesABOUT S&P DOW JONES INDICESS&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes helping to define the way investors measure and trade the markets.S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spglobal.com/spdji/en/.FOR MORE INFORMATION:S&P Dow Jones Indices
index_services@spglobal.comMedia Inquiries
spdji.comms@spglobal.com
View original content:https://www.prnewswire.com/news-releases/vertiv-holdings-lumentum-holdings-coherent-and-echostar-set-to-join-sp-500-others-to-join-sp-100-sp-midcap-400-and-sp-smallcap-600-302707297.htmlSOURCE S&P Dow Jones Indices
Original: Vertiv Holdings, Lumentum Holdings, Coherent, and EchoStar Set to Join S&P 500; Others to Join S&P 100, S&P MidCap 400, and S&P SmallCap 600
US Market News
4月前
Tradr Debuts Leveraged ETFs on Centrus Energy, CleanSpark and CoherentFebruary 19, 2026 6:46 AM
PR Newswire (US)
Two long and one inverse fund continue Tradr's tradition of launching first-to-market strategiesNEW YORK, Feb. 19, 2026 /PRNewswire/ -- Tradr ETFs, a provider of ETFs designed for sophisticated investors and professional traders, today launched three new leveraged ETFs on single stocks. The Cboe-listed funds seek to deliver either two times the inverse (-200%) or two times long (200%) the daily performance of a specific underlying stock. All three ETFs are first-to-market strategies.The following ETFs are expected to open for trading today:Tradr 2X Short CLSK Daily ETF (Cboe: CLSZ) – tracks CleanSpark Inc. (Nasdaq: CLSK)Tradr 2X Long LEU Daily ETF (Cboe: LEUX) – tracks Centrus Energy Corp. (NYSE: LEU)Tradr 2X Long COHR Daily ETF (Cboe: COHX) – tracks Coherent Corp. (NYSE: COHR)"Both Coherent and Centrus are emerging participants with explosive growth potential who are supporting the buildout for AI data centers," said Matt Markiewicz, Head of Product and Capital Markets at Tradr ETFs. "The launch of CLSZ complements last September's launch of CLSX, our two-times leveraged long strategy on CleanSpark that has been well received by traders."Tradr's lineup of 69 leveraged ETFs represents over $2 billion in assets under management. Tradr's strategies can be accessed through most brokerage platforms and allow investors to avoid the hassle of using margin and the complexity of options trading. The firm continues its mission of providing sophisticated investors with innovative trading tools that enhance their ability to express market views with precision and efficiency.For detailed information on Tradr ETFs and the significant risks involved with leveraged ETFs, please visit www.tradretfs.com.About Tradr ETFs
Tradr ETFs are designed for sophisticated investors and professional traders who are looking to express high conviction investment views. The strategies include leveraged and inverse ETFs that seek short or long exposure to actively traded stocks and ETFs.IMPORTANT RISK INFORMATIONTradr ETFs are for sophisticated investors and professional traders with high conviction views and are very different from most other ETFs. The Funds are intended to be used as short-term trading vehicles and pursue leveraged investment objectives, which means they are riskier than alternatives that do not use leverage because the Funds magnify the performance of their underlying security. The volatility of the underlying security may affect a Fund's return as much as, or more than, the return of the underlying security.Investors in the fund should: (a) understand the risks associated with the use of leverage; (b) understand the consequences of seeking inverse and leveraged investment results; (c) for short ETFs, understand the risk of shorting; (d) intend to actively monitor and manage their investment. Fund performance will likely be significantly different than the benchmark over periods longer than the specified reset period and the performance may trend in the opposite direction than its benchmark over periods other than that period.Leverage increases the risk of a total loss of an investor's investment, may increase the volatility of the Funds, and may magnify any differences between the performance of the Funds and their reference security. The Funds seek leveraged investment results for a specific period (daily, monthly or quarterly). The exact exposure of an investment in the Fund intra-period will depend upon the movement of the reference security from the end of the prior period until the time of investment by the investor.The Fund will not attempt to position its portfolio to ensure it does not gain or lose more than a maximum percentage of its net asset value on a given trading day. As a consequence, investors in a Fund that seeks two times daily performance would lose all of their money if the Fund's underlying security moves more than 50% in a direction adverse to the Fund on a given trading day.ETFs involve risk including possible loss of the full principal value. There is no assurance that the Fund will achieve its investment objective. Principal risks and other important risks may be found in the prospectus. Past performance does not guarantee future results.ETF shares are bought and sold at market price (not NAV) and are not individually redeemed from the ETF. There can be no guarantee that an active trading market for ETF shares will develop or be maintained, or that their listing will continue or remain unchanged. Buying or selling ETF shares on an exchange may require the payment of brokerage commissions and frequent trading may incur brokerage costs that detract significantly from investment returns.Investors should carefully consider the investment objectives, risks, charges and expenses of the Funds. This and other important information about the Fund is contained in the Prospectus, which can be obtained by visiting www.tradretfs.com. The Prospectus should be read carefully before investing.Distributed by ALPS Distributors, Inc, which is not affiliated with AXS Investments or its Tradr ETFs. AXI000868
View original content to download multimedia:https://www.prnewswire.com/news-releases/tradr-debuts-leveraged-etfs-on-centrus-energy-cleanspark-and-coherent-302692087.htmlSOURCE Tradr ETFs
Original: Tradr Debuts Leveraged ETFs on Centrus Energy, CleanSpark and Coherent
buhg1b
18年前
PhAST/Laser Focus World Innovation Award goes to Coherent
May 2, 2008, Washington, DC--The Photonic Applications, Systems and Technologies (PhAST) Conference and Laser Focus World magazine are pleased to announce that Coherent has been selected as the recipient of this year's PhAST/Laser Focus World Innovation Award for its OPSL-577-3, the twin embodiment of technical and application innovation in exploiting the wavelength and power scalability of optically pumped semiconductor laser (OPSL) technology.
"Coherent is leading the pack in the development of precisely scalable lasers for customizable use in a variety of applications," said PhAST Co-Chair David Huff. "This new laser not only advances how the photonics industry can apply laser technology, but also offers hope for the thousands of sufferers of macular degeneration." Coherent will be accepting this award at the CLEO Plenary session on Monday, May 5 at 6 p.m. in the San Jose Civic Auditorium at the San Jose McEnery Convention Center in San Jose, CA.
The OPSL-577-3 is the first laser to fully exploit the wavelength and power scalability of OPSL technology to deliver several watts at an application-optimized wavelength rather than a legacy wavelength. From an applications viewpoint, the 577 nm output brings the promise of a significant improvement in photocoagulation treatment for the many sufferers of wet-form macular degeneration, a leading cause of age-related blindness that affects up to 250,000 people in the United States alone.
The laser is expected to significantly enhance the efficacy of photocoagulation as a treatment modality for wet-form macular degeneration. This disease is episodic in nature, characterized by periodic ruptures of small blood vessels in the retina. The goal of laser photocoagulation is to seal the leaking vessel without damaging peripheral tissue. Since leaking blood is the main differentiating material between the target area and surrounding tissue, this goal can best be achieved by using a laser wavelength that is selectively and effectively absorbed by blood. Moreover, this should be a visible laser wavelength, allowing it to be delivered through the front of the eye without any damage to the lens or aqueous humor.
"The innovation awards are a great opportunity to recognize excellence in the lasers and electro-optics industry," said Steve Andersen, editor-in-chief, Laser Focus World. "We had a number of strong submissions for this year's awards and are impressed with the advances CLEO exhibiting companies are making in the field."
In addition to the award given to Coherent, five honorable mention products were chosen from all entries. The honorable mentions are as follows:
Amplitude Systemes
TANGERINE: 20W High Energy Diode-Pumped Ultrafast Fiber Amplifier
For the introduction of a unique ultrafast fiber amplifier, offering both a high energy level and a high average power.
ColdQuanta
The RuBECi Ultracold Matter Cell
For the development of the industry's first commercial instrument designed to enable the production of Bose-Einstein Condensates (BECs) and related forms of ultracold matter.
Edmund Optics
Low-cost, Color Corrected Aspheres
For presenting the industry's first color-corrected aspherical components.
Holochip
Adaptive Polymer Lens: APL-1050
For introducing an adaptive polymer, singlet fluidic lens with a variable focal length.
Picometrix
T-Ray 4000 Time Domain Terahertz Product Platform
For creating a transportable terahertz system that is precise enough for manufacturing, process control or data collection.
The honorable mentions will be recognized by the PhAST chairs during the CLEO Plenary Session.
The PhAST/Laser Focus World Innovation Award Program honors the most timely, ground-breaking products in the field of laser science. Entries are evaluated on criteria critical to product success: impact, functionality, life expectancy, effect on the optics industry, innovation and patents or trademarks.
For more information on the PhAST/Laser Focus World Innovation Award, visit www.phastconference.org/innovation/.
Thu May 01 21:58:00 CDT 2008
http://www.laserfocusworld.com/display_article/327566/12/none/none/INDUS/PhAST/Laser-Focus-World-Innovation-Award-goes-to-Coherent
buhg1b
18年前
Coherent to outsource Auburn optics manufacturing operations
April 18, 2008, Santa Clara, CA--Coherent entered into a definitive agreement to sell certain assets of Coherent's Auburn Optics manufacturing operation to Research Electro-Optics (Boulder, CO), a privately held optics manufacturing and technology company. Consistent with the asset transaction, Coherent and REO have entered into a strategic supply agreement whereby REO will provide optical manufacturing capabilities for Coherent, including fabrication and coating of optical components.
The transition of the optics manufacturing assets from Auburn to Boulder will begin immediately and is expected to be completed no later than the end of the second quarter of fiscal 2009. Coherent will further discuss the transaction during its previously announced second fiscal quarter financial results conference call on April 24, 2008 at 1:30 p.m. PST.
According to an article in The Union newspaper (Grass Valley, CA), the outsourcing move will affect the jobs of about 100 people, including residents who live in southern Nevada County. "It's part of the company's strategy to effectively manage production in cost-effective ways," said Leen Simonet, executive VP and CFO of Coherent. Simonet denied any hardship to local workers, as they would be offered jobs at Research Electro-Optics or provided with help to find work locally. Simonet would not comment on the future of Coherent's manufacturing presence in Auburn. It was unclear whether any manufacturing jobs remain.
For more information, visit www.coherent.com.
Fri Apr 18 09:42:00 CDT 2008
http://www.laserfocusworld.com/display_article/326220/12/none/none/INDUS/Coherent-to-outsource-Auburn-optics-manufacturing-operations
buhg1b
18年前
Dutch Auction
Tuesday March 25, 6:00 am ET
Coherent acquires 7,972,313 shares at $28.50 per share
SANTA CLARA, Calif., March 25 /PRNewswire-FirstCall/ -- Coherent, Inc. (Nasdaq: COHR - News) today announced the final results of its modified "Dutch Auction" tender offer, which expired at 5:00 p.m., New York City time, on Monday, March 17, 2008.
Based on the final count by the depositary for the tender offer, Coherent accepted for payment an aggregate of 7,972,313 shares of its common stock at a purchase price of $28.50 per share. These shares represent approximately 25% of the shares issued and outstanding.
Based on the final count by the depositary for the tender offer, an aggregate of 7,972,313 shares were properly tendered and not withdrawn at or below a price of $28.50. The 7,972,313 shares purchased are comprised of the 7,628,000 shares Coherent offered to purchase and 344,313 shares purchased pursuant to Coherent's right to purchase up to an additional 2% of the outstanding shares, without extending the tender offer in accordance with applicable securities laws.
The depositary will promptly pay for the shares accepted for purchase. All shares tendered and delivered at prices between $28.75 and $29.50 per share will be returned promptly to shareholders by the depositary.
The self-tender offer was made pursuant to an Offer to Purchase and Letter of Transmittal, each dated February 15, 2008, in which the Company offered to purchase up to 7,628,000 shares at a price not less than $26.00 per share and not greater than $29.50 per share, filed with the Securities and Exchange Commission on February 15, 2008, as amended on March 7, 2008 and March 18, 2008.
Merrill Lynch & Co. is the Company's dealer manager for the tender offer. The information agent is Georgeson Inc., and the depositary is American Stock Transfer & Trust Company. Any questions with regard to the tender offer may be directed to the information agent, at 877-868-4962.
Founded in 1966, Coherent, Inc. is a world leader in providing photonics based solutions to the commercial and scientific research markets.
Please direct any questions to Leen Simonet, Executive Vice President and Chief Financial Officer at 408-764-4161.
http://biz.yahoo.com/prnews/080325/aqtu021.html?.v=48
buhg1b
18年前
Coherent F1Q08 (Qtr End 12/29/07) Earnings Call Transcript
"...We reported first quarter revenues of $144.3 million and net income of $4.7 million or $0.15 per diluted share. Excluding the charges related to the restatement of our financial statements and litigation resulting from the stock-option investigation and excluding the quarterly stock compensation charges, the pro forma net income for the first quarter of fiscal 2008 was $9.5 million or $0.30 per diluted shares, compared to a pro forma net income of $0.37 per diluted share for the first quarter of fiscal 2007.
The primary reasons for the decline in pro forma earnings related to the increase of period expenses resulting from a weakened dollar. During this period, the euro strengthened approximately 13%.
Bookings for the quarter were strong at $154.9 million, an increase by 13.7% over the corresponding prior year period. Our book-to-bill was 1.07 and the backlog at the end of Q1 '08 was $198.4 million. Net sales for the first quarter were $144.3 million and are within guidance, but as low-end primarily as the result of delivery push ups from a few customers not due to lot business.
Market perspective, when comparing to the similar quarter last year, we saw strong performance in material processing, bioinstrumentation and medical applications, resulting in a 26.5% growth for material processing and 14.5% for OEM components and instrumentations, when adjusted for the sales of optical imaging business. Microelectronics sales declined 12.7% as a result of the slow demand that we saw in the flat panel display market during the second half of fiscal 2007, coupled with normal timing of demand in other micro materials processing markets. The scientific market decline of 8.5% is primarily the results of our previously announced exit from the custom laser business.
Please note that effective Q1 '08, we are consolidating the graphic arts and display business into the OEM components and instrumentations markets. Prior period's market information has been combined to confirm to the current presentation. The Company sales by market applications for the first quarter of fiscal 2008 are as follows; Scientific 30.1; microelectronics, 48.7; material processing, 24.5; and OEM components and instrumentations, 41 for a total of 144.3 million.
First quarter gross profit was $60.5 million or 41.9% of sales. On a pro forma basis, excluding stock compensation costs, gross profit of 42.2% is similar to the first quarter of 2007. The projected accretion of having no imaging uptick revenue and lower scientific custom business was offset by the negative impact of the weak dollar and it continued unfavorable microelectronics market and product mix.
When comparing to the previous quarter pro forma gross profit increased slightly from 41.9% to 42.2%, and this sequential increase was primarily related to improve yields across several of our business units.
Total operating expenses for the quarter, excluding intangible amortization of $2.2 million, excluding the restatement of financial statements of litigation costs related to our stock-option investigation up $4.7 million, and excluding stock compensation charges of $2.3 million was $50.1 million or 34.7% of sales..."
http://seekingalpha.com/article/64339-coherent-f1q08-qtr-end-12-29-07-earnings-call-transcript?source=yahoo