Callouts & quotes from 37,061+ activist slides

"He chuckled when he indicated that it’s a “pretty safe assumption” that only speakers tend to prescribe the drug in such massive volume – and even admitted that speakers program abuses “could be potentially criminal...it would be criminal.”"

"If you don't change, you die... If things change faster outside your company than they change inside your company, you've got something to worry about... What we're talking about here is your future. If you don't change, you won't have one."

"Chinese database search on internet licenses shows that Moyi only had an internet services license for the Guangdong Province (license number B2-20140044), and its 2015 national licenses specifically excluded “Internet Information Service”."

"Lasertec has never had an EUV technology that actually works: key customers have stopped buying new ACTIS systems; are refusing to accept shipment with ones like Intel “pushing, pushing, pushing out” purchase orders; inventory is piling up."

"Lasertec “customers are furious because they need to maintain another KLA tool as a backup on P2”: “the problem that the customer has...because Lasertec introduces particles as you clean and put the pellicle on...so you defeat the purpose.”"

"Variable information printing is what you would see on a UPS or Amazon box. Specifically, in North America it became very price sensitive. It became very difficult to build this business. — Former Avery Global Pricing and Revenue Specialist"

"Dr. Metzner: Picking up on Mr. Buhlmann's question. He asked about who actually vests the shares in the context of Muddy Waters? Our answer to that is: Betting on falling stock prices is part of the strategy of some investors. — Dr. Metzner"

"Method: through questionnaire survey CTR gather the basic data from bus companies and AV Center under the Ministry of Communication, all the data we collect and submit are actual, reliable, also match the requirement for the research. — CTR"

"Bri Scholtz: Welcome to the Streamline 66 Podcast where we bring you the latest in Elliott Investment Management’s effort to unlock value at Phillips 66. Joining me today is Brian Coffman, who brings over four decades of refining expertise."

""[The accounts] had been reviewed and scrubbed quarterly since they were put in place by Arthur Andersen. We thought all that had become history, and it was now news." — Former Enron Corp. Chairman Kenneth Lay during his 2006 criminal trial"

""In our view, shareholder voting rights should be proportionate to economic ownership—the principle of 'one share, one vote' helps to achieve this balance." — BlackRock Investment Stewardship - Global Principles Effective as of January 2024"

"Based on the synergy plan, we are confident that the combined entity will generate about a 24% operating margin by the end of this decade versus the 18.5% P&G delivered in fiscal 2004-5. — A.G. Lafley, CEO, Gillette M&A Presentation 10/3/05"

"Kao's CMO is effectively Nishiguchi... [he] is more of a sales guy and does not have the experience or ability to manage brands... Kao really should bring in a CMO from outside — Kao Former, Corporate Strategy Division, Oasis Interview 2023"

"PREPARED STATEMENT OF DEBRA A. VALENTINE, GENERAL COUNSEL FOR THE U.S. FEDERAL TRADE COMMISSION on "PYRAMID SCHEMES" presented at the INTERNATIONAL MONETARY FUND'S SEMINAR ON CURRENT LEGAL ISSUES AFFECTING CENTRAL BANKS — Debra A. Valentine"

"“Part of our business is entertainment. We entertain our distributors with opportunity, with dreams, stories, it's all a part of what this company is.” --CEO Michael O. Johnson, Goldman Sachs 14th Annual Global Retailing Conference 9/5/2007"

"Dr. Hemal Nayak, a cardio electrophysiologist at the University of Chicago, is recommending his patients unplug their Merlin@home units; and, he is not going to implant STJ devices until the problems discussed in this report are remediated."

"ESG and Climate segment Adjusted EBITDA expenses increased 23.1% for the three months ended September 30, 2022... partially offset by increased capitalization of expenses related to internally developed software projects. — MSCI SEC filings"

"「サムスンがKLAに対してアクティニック極端紫外線関連の装置を早く完成させるよう、働きかけている、とおっしゃいましたね」「はい、サムスンは交渉力を高めるためにも、供給源を一社に頼らず、仕入れ先の多様化に努めてきました。サムスンにとっては、レーザーテック製の装置と同等のものを作ってくれるならば、歓迎すべきことなのです。だからKLAに働きかけつづけています」 — サムスンで極端紫外線事業の担当としてレーザーテックと密接な関係を持ち、検査装置の購買について決定権を握っていた、元幹部"

"I don't think there's anything that Waymo or anyone else has done that is like, there are no secrets in this industry...there's definitely science to it, but most of it at this stage is doing the painstaking engineering work. — Unattributed"

""In our view, shareholder voting rights should be proportionate to economic ownership—the principle of ‘one share, one vote’ helps to achieve this balance." — BlackRock Investment Stewardship - Global Principles Effective as of January 2024"

""Revenue expected to come from backlog within the next twelve months that's an important leading indicator that we've put in all of our filings has been coming up over the last couple of quarters" — CFO At Jefferies Conference (Aug 8, 2018)"

"A type of preferred stock that has no maturity date; The issuers of perpetual preferred stock will always have redemption privileges on such shares; Issued perpetual preferred stock will continue paying dividends indefinitely — Investopedia"

"We think potentially material upside [for Capricorn] could also be unlocked in the case of securing 'modernised' fiscal terms in Egypt. Such ad-hoc agreements improved APA's and Eni's onshore NPV10s by >50%. — BofA Securities (14 June 2022)"

"At present, we believe [CEO Mark] Lashier and the rest of the management team deserve investor support so long as they demonstrate meaningful progress against [their financial] targets. — Elliott Investment Management (November 2023 letter)"

""...I'm also pleased to note that we have increased our cost reduction target by approximately $300 million to at least $1.3 billion of total expected savings to be achieved on a run-rate basis by 2017." — DuPont Q4 2014 earnings transcript"

"No, I won't [use it] because of Zafgen...we find out oh, six months from now...they all of a sudden have cardiomyopathy or seizures....I'm concerned about safety. — Trial investigator and physician; one of the leading KOL's in the PWS field"

"“we had to insist on putting in all those side-effects [in the paper]...the complications of the study...it wasn't in there...I had to make sure it was included...it had to be more critical...” — Physician, KOL, and Vykat trial investigator"

"“the company didn’t do the late-stage clinical trials needed to win FDA approval to market deflazacort. That step usually is the costliest part of drug development and often cited by companies as a justification for their prices.” — The WSJ"

"“the complicated pharmacology of H3R” and “over 20 existing hH3R isoforms, with some having a different pharmacological profile.” — New developments around histamine H3 receptor antagonists/inverse agonists: a patent review (2010 - present)"

"A WFG agent by the name of (b)(6) tricked me into investing $65,000 cash and told me it would be an investment for my future. He tried to sell me life insurance. He has not returned my money and is now disappeared. This was my life savings."

"Housing is in dollar term wise the biggest revenue category and we have Incredible who have very big market share in the market already. However, the housing policy environment has been — 58.com Management (Q4 2018 earnings conference call)"

"It is noteworthy that AAPL has been attacked for engineering its tax rate lower through transfer pricing arrangements, and yet MWH, which generates approximately 85% of its revenue in the U.S. and China, has a much lower reported tax rate."

"This quarter's results are an important proof point that Disney's complex transformation is succeeding and our confidence in Disney's current trajectory is such that we have, in recent weeks, repurchased a significant stake in the Company."

"Avery Dennison faces significant long and short-term headwinds across its offerings' end-markets. We believe these headwinds will continue to intensify as competition increases, resulting in declining sales and further pressure on margins."

"MacLellan failed to disclose his role at PortaCom Wireless. While his tenure occurred over 20 years ago, we believe his role as CEO of a company that declared bankruptcy is material as an event where shareholders were significantly harmed."

"In these markets the problem of diesel fuel theft is a nagging and persistent. Ironically, our towerco executive explained some landlords will “hold tower companies to ransom” seeking to have their relatives hired as the securities guards."

"Based on our conversations with urologists, CMS has implemented more restrictive guidelines for approving Aquablation, requiring additional tests be performed before granting approval. We believe this may slow Aquablation procedure growth."

"The strong correlation and recent spike of both Helly Hansen Canada Revenue and CTC's Intersegment Revenue suggests Canadian Tire is pushing inventory to CTC retail stores in order to show strong growth in its struggling Helly Hansen brand"

"...if you want to think about our Las Vegas assets and come up with a corollary... I would encourage you to think of the corollary being theme parks... Because of the mass size, complexity, layout and development potential of these assets."

"To safeguard employees, shareholders, and other stakeholders' interests, Palliser call on Kobayashi-CEO and the Board to stem the ongoing value destruction and facilitate conditions for longer-term improvement with three immediate measures"

"We identified a variance in employees reported between the 2025 Annual Report and 20-F which were filed at the SEC just two weeks apart. Both figures reference FY 2025 (ending June 30th). The 20-F indicates 35% more employees or 70 vs. 52."

"For the stock market speculators interested in enriching themselves through manipulation, information arbitrage and a “zero sum” gain, all at the expense of our investors, I am certain that their actions will ultimately catch up with them."

"This implies that each company received debt financing ranging from approximately $10 million to $60 million. The only problem is that these companies appear to be empty boxes that would never receive loans remotely approaching this range."

"Monroe – the real heavy – appears to want his cake and eat it too: trying to preserve his scientific reputation by allegedly privately blaming the CEO and “financial types,” while publicly playing along as the scientific promoter-in-chief."

"Spruce Point believes there are intercompany sales and purchases between Xylem and Evoqua, as well as competition overlap, but that the merger proxy fails to adjust for these transactions when depicting the pro forma combined organization."

"PBT was the same in both statements. The Q4 2010 Statement of Cash Flows obviously should have included the transaction costs and impairment charges. That it did not is another example showing that Olam's accounting is incompetent at best."

"We believe Skechers deserves to trade a substantial discount to comparable apparel companies, particularly in light of its deteriorating financial performance and governance issues. We see 30% to 50% downside risk to Skechers’ share price."

"The Board has failed to recognize and address the growing risk of 'greenwashing', despite an inconsistent and contradictory approach to ESG investing: in the 10K, BlackRock neglects to identify 'greenwashing' as a standalone source of risk"

"Spruce Point believes that WSP's backlog is one of the least descriptive among its global peers. Furthermore, unlike Canadian counterparts Stantec and AtkinsRealis (SNC-Lavalin), WSP's backlog differs from remaining performance obligation."

"Twist is a ticking time bomb, a commodity DNA manufacturer with a low quality, inferior product, operating an unsustainable Ponzi-like scheme based on price dumping and customer subsidies to buy revenue and create the illusion of “growth.”"

"We find it troubling that both 3W Partners and NFT Investment Limited appear to have the same address in Hong Kong, suggesting that they are linked – both at “Jardine House, 1 Connaught Place” in Hong Kong, but with different rooms listed."

"Management compensation is a significant percentage of EBITDA and has been immune to Kratos’ struggles and poor performance. Among small cap aerospace and defense contracting peers, Kratos’ management is excessively paid relative to EBITDA"

"Investors should discount the significance of this "pipeline" as they are merely non-binding letters of interest (LOI) which contain targets for pricing, duration, and quantity of power but lack the commitments of an actual, finalized PPA."

"Assuming that DuPont achieves 40 cents per share of cost-savings in 2015, Trian estimates that the core business must grow operating earnings by ~29% in Q2-Q4 2015 to meet its revised 2015 EPS guidance of $4.00 per share (low-end of range)"

"TWC should, on a fully distributed basis, trade at a premium to Comcast (TWC's most comparable peer given its scale and competitive positioning) due primarily to the higher projected revenue and OIBDA growth at TWC over the next few years."

"Assuming that DuPont achieves 40 cents per share of cost-savings in 2015, Trian estimates that the core business must grow operating earnings by ~29% in Q2-Q4 2015 to meet its revised 2015 EPS guidance of $4.00 per share (low-end of range)"

"We believe this share price decline sends two clear messages: 1) PepsiCo is worth more and would be run better as two separate companies; and 2) the Board and management's decision not to separate goes against shareholders' best interests."

"Given our concerns about the reliability of Kornit's financials, we believe the most conservative way to value the Company is on its revenues and cash flow, both of which we believe will normalize for the large Amazon contribution in 2018."

"MSCI's Real Assets segment seems to be in disarray. While its website prominently touts its game-changing data for infrastructure assets, it has no further information and an inactive link under core capabilities related to infrastructure."

"Assuming that DuPont achieves 40 cents per share of cost-savings in 2015, Trian estimates that the core business must grow operating earnings by ~29% in Q2-Q4 2015 to meet its revised 2015 EPS guidance of $4.00 per share (low-end of range)"