Callouts & quotes from 37,061+ activist slides

"Moreover, numerous posts indicate that doctors as well as Harmony’s specialty pharmacy are telling patients the opposite: that a CYP2D6 inhibitor like an antihistamine DECREASES pitolisant levels, when in fact the opposite is true."

"According to Solar Surge, which has the most viewed video comparing the Tesla Powerwall II and Generac PWRcell with 7.7k likes, the systems are ranked equally, with the swing i.e. "X-factor" being intangible aspects such as design."

"Since the IPO on the London Stock Exchange in May 2013 and from our average cost basis prior to the position being made public, Platform’s share price has increased 201%, including the attached warrants associated with the offering"

"If Doosan could not convert its most public SOFC MoU into actual SOFC orders with a long-standing partner like Samchully, this implies real-world customer reluctance, technology-readiness issues, or economic disadvantages for SOFC."

"We remain open to working constructively with management and the Board of GoDaddy and will continue to communicate our views, as necessary, to ensure the best interests of all shareholders are properly represented in the boardroom."

"Yes, with the Nuvei and SafeCharge it took about a year before we could actually share APIs to even share our traffic. I think we rushed to market and was just like ‘Hey there, we can do everything for you.’ — Former Nuvei Employee"

"The drop in occupancy in Prague and Berlin was minor and partially reflects our strategy of refurbishing or developing certain properties, which might be vacant or partially vacant for a short period. — CPI PG, 1H 2022 earning call"

"Diversifying product portfolios to include both animal and alternative protein sources presents the biggest opportunity to mitigate operational risks while building agility to respond to market and technological disruptions — FAIRR"

"Mr. Starrett's biography fails to disclose that he served on both the Boards of AFC Enterprises (Nasdaq: AFCE) from 1998 – 2005 and The Pantry (Nasdaq: PTRY) from 1999 – 2006 during the period when a financial restatement occurred."

"“Despite the portfolio upgrading effort, a valuation gain has been elusive” — Goldman Sachs. “the market is currently discounting the potential for Huntsman to achieve these goals.” — Starboard Value (commentary on Huntsman slide)."

"Year-to-date, including business that has been agreed upon but not yet shipped, Alpha has sold approximately 1.9 million tons of metallurgical coal into China for the 2021 calendar year. — Horn, EVP, Sales (Q3 2021 Conference Call)"

"“serves on an excessive number of public company boards, which we believe raises substantial concerns about the director's ability to exercise sufficient oversight on this board” — BlackRock (in their voting rationale for Item 5.9)"

"In our goal of owning thirst, we are excited about our many exclusive product launches in the US, including Celsius Watermelon Ice during the quarter and our first GHOST brand exclusive this month. — CEO of Alimentation Couche-Tard"

""The fact of the matter is that the stocks in which [Mr. Peltz] has been involved, capex has gone up, not down, in nearly all of the cases. The record speaks for something, does it not?" — Scott Wapner, Host, CNBC’s Halftime Report"

""We rely on assumptions and estimates to calculate certain key operating metrics, and real or perceived inaccuracies in such metrics may harm our reputation and negatively affect our business." — Momo 2017 20-F Annual Report (p.14)"

""The fact of the matter is that the stocks in which [Mr. Peltz] has been involved, capex has gone up, not down, in nearly all of the cases. The record speaks for something, does it not?" — Scott Wapner, Host, CNBC's Halftime Report"

""The fact of the matter is that the stocks in which [Mr. Peltz] has been involved, capex has gone up, not down, in nearly all of the cases. The record speaks for something, does it not?" — Scott Wapner, Host, CNBC’s Halftime Report"

""Amazon and Google are Currently Racing to Invest in This Industry (and It's Not Technology) People describe this industry as boring, stagnant, and low-tech, but Google and Amazon don't seem to care" — Inc. Magazine, March 11, 2019"

""TSMC will not consider the A300 or A150 for production"; "Lasertec X8 ULTRA and X9 ULTRA are the DUV light source but they are inspecting the EUV mask...for the throughput...[EUV] is not necessary." — Ex-TSMC procurement executive"

"“If you look at how these bills are inflated, in many situations...the vendor fees can actually exceed the medical cost of care. One, it’s absurd, and two, it basically obviates the purpose of any type of plan like this.” — HST CEO"

""there were so many problems that we just shook our heads...." — KOL; "Nevro definitely designed their HF10 trial to make their product look better. There's no question about it." — KOL; "Nevro's always played a lot of games" — KOL"

"It shall be unlawful for any person to knowingly acquire, receive, or otherwise transfer any human organ for valuable consideration for use in human transplantation if the transfer affects interstate commerce. — 42 U.S. Code § 274e"

"“You are still living with the consequences of that burn, and everyone involved in this failure needs to be held accountable. And frankly, it's a reminder that Norfolk Southern can't be trusted.” — Ohio Senator Sherrod Brown (D-OH)"

"By the way, they are ahead of our plan. We had an internal plan that we put together for the combined business... And they had a quarter that exceeded our expectations and we expect that to continue. — Roger Krone, CEO, Aug 4, 2020"

""Lightspeed launched Payments in the international markets starting with the U.K., and earlier this week, announced 5 more European launches, including Germany, Switzerland, France, Belgium and the Netherlands." — Q1 2022 Conf Call"

"“It was just like these little tinkers working in their shop and sort of puttering along and doing okay science, but they had no idea how to actually get to market.” — Neurologist and professor at a pre-eminent academic institution"

"I was very excited initially based on the mechanism...but I have to say it's a pretty saturated field...I might have had a couple more patients on over the past six months or so. — Neurologist in the New York, major academic center"

"“whatever they shipped so far, they basically lost money...they basically are spending constantly on cleaning, constantly replacing tools, and keep losing money.” — Leading figure in the development of Cymer/ASML’s EUV light source"

"Spruce Point believes there is significant downside risk to RELY’s share price as its premium multiple is reconsidered by institutional investors in the face of our strong evidence to indicate that it is masking growing pressures."

"While Office Depot made some cosmetic changes to its 2012 compensation plan, from mostly solely time-vesting awards to the addition of performance based awards, the reality is that the Company did not address shareholder concerns."

"Management plans to use all free cash flow after dividends to repurchase stock and will increase leverage to 1.8x Lease Adjusted Net Debt / EBITDAR from 1.6x. We estimate share repurchases will be ~$10bn to $13bn from 2012 to 2015"

"To reach any meaningful level of profitability, an investor in Procept must assume the Company will: More than triple revenue; Either be used for nearly 175,000 BPH procedures... or hit a home run in a prostate cancer application."

"From the inception of our short position on May 1, 2012, HLF stock declined by 13% (including dividends), and from our average cost basis prior to the position being made public, HLF stock increased 4%; extreme volatility persists"

"The increasing investment in R&D has apparently not resulted in new litigation worthy patents since public records indicate Tessera has not asserted any internally developed patent from the last several years in recent litigation."

"JANA either does not understand how to value assets in our sector or is intentionally trying to deceive shareholders because it has been unable to convince anyone that its plan to breakup Agrium would create value for shareholders"

"At the quantities involved here, 2.5 million transaction costs vis-à-vis 40,000 for the opposite party, one can't just say we're so transparent, we've spent so much money, everything's great. This incongruity begs for explanation."

"GM turnover went from 34% the year before Mr. Blum and Mr. Mock started to 4% annual voluntary turnover, plus 5% forced turnover each year to provide room for strong and upcoming junior managers (currently the turnover is 16-17%)."

"strengthen the Board of Directors, adding the necessary capabilities to oversee large capital deployment in areas which are not BP's core business and have BlackRock's non independent director Pamela Daley removed from BP's Board."

"Muddy Waters, LLC has amassed irrefutable evidence that China MediaExpress Holdings, Inc. ("CCME") is a substantial fraud, and that management is engaging in a cover-up replete with further dissemination of fraudulent information."

"..there will be times when CLR may outspend its internally generated cash flow. However, so long as it is earning the returns on investment in the incremental barrel produced by these borrowings... this should be of minor concern."

"Viacom has been a long-term partner, so it'd take a lot for us not to do a deal with them, but they have to be realistic that their ratings have deteriorated over the last three years or four years in some cases in a material way."

"We believe that Ms. Schnabel’s substantial business experience and financial background, coupled with her extensive experience serving as a director of public and private companies, would make her a valuable addition to the Board."

"Both GMCR and MBlock use sub-standard IT systems. Important functions including inventory management are performed in Excel spreadsheets which are easy to change, provide non-standardized analysis, and are prone to material error."

"If the disease itself does not dissipate for another 18 months - regardless of when retail, transportation, and other sectors begin to normal - will people really be willing to return to the orthodontist for an elective procedure?"

"Edgewater's stock price has significantly underperformed a peer group comprised of twenty-eight publicly-traded North American-based IT Consulting companies both in terms of total shareholder return and other key operating metrics"

"DND is a high-quality business with competitive products and cash flows of a similar quality to peers. However, it has significantly underperformed its benchmark indices and self-selected peer group over all relevant time horizons"

"In our model, there is no combination of low single digit Peiyou offline ASP or Peiyou offline-online discount assumptions that yields positive YoY Peiyou offline growth and positive sequential Peiyou online growth simultaneously."

"Skillz's purported partnership with the NFL – announced (only by Skillz, not the NFL) the week of the Superbowl – is consistent with Skillz long history of boasting about “big partnerships” which have amounted to nothing of value."

"C3.ai's updated disclosure in its most recent 10Q regarding the 3rd amendment to the JV contract notes the structure of the arrangement was revised to further incentivize Baker Hughes' sales of the Company's products and services."

"Importantly, we note that, until recently, AT&T was a strategic investor in Amdocs. However, AT&T's position in DOX equity fell below 5% in 2009, and there is no indication that it maintains a material position in the stock today."

"We are concerned that this could give the Company more opportunities to pull forward revenue and to delay expenses, and perhaps that management is applying percentage-of-completion accounting more widely precisely for this reason."

"Rather, management may not be recognizing acquisition-related revenue in a timely manner, but instead recognizing it gradually over time as a source of apparent organic growth. Again, this would be a much more significant offense."

"Given the growing body of scientific evidence and increased public concern for energy drinks, artificial intelligence models that we asked about Monster's health returned answers that slanted towards more negatives than positives."

"After backing out the value of publicly traded MLP interests and the estimated value of other non-refining businesses, Marathon's current trading price implies a significant discount to the trading value of merchant refining peers"

"No matter the ultimate outcome, Agrium shareholders deserve a better process than this, and the current board still has much to explain regarding how it previously evaluated Retail acquisitions and the company's overall structure."

"Based on concerning actions taken by the current Board over the past few months, shareholders should have no reason to believe these directors have the strength and independence to hold management accountable for its new promises."

"We believe that Ms. Schnabel’s substantial business experience and financial background, coupled with her extensive experience serving as a director of public and private companies, would make her a valuable addition to the Board."

"If international growth is a pillar of the growth story sold to investors, wouldn't regular disclosure and information related to fees and pricing power be critically important to assisting investors in evaluating its performance?"

"I think Meetrics was a crap company to acquire. Sorry to be blunt. When you're verification with little competition in Europe and small, after a decade of presence, especially in Germany. Its closed off and they like to buy local."

"Kornit has obscured the rebate terms received from Amazon, and the amount it recognizes in its income statement, but says that it accounts for rebates on “historical experience” or “specific terms and conditions of the incentive”."