Callouts & quotes from 37,061+ activist slides

"In the absence of explanation, we therefore adjust free cash flow downward by this delta. We also think this is a very concerning sign about Ströer’s accounts."

"And though Apple might not have considered it possible, we have a solution for unlocking value for shareholders that allows it to have its cake and eat it too."

"We Believe that Over Half of the Buses on which CCME has Placed Screens do not Actually Show CCME's Content, which Makes CCME's Revenue Claims More Outlandish."

"Board-led Review of Creative Processes & Structure with the Goal to Restore Leadership Accountability and Reclaim #1 Box Office Position with Leading Economics"

"The government announced the net worth sweep just after the GSEs returned to profitability and were able to pay the cash dividends under the original agreement"

"Uber is a high-quality business which is positioned for rapid earnings growth over the medium-term based on strong revenue growth and robust operating leverage"

"While project infrastructure renderings look appealing on paper, we believe they are fraught with execution risk and community pushback and extreme skepticism."

"Some transplant surgeons told us their centers had rigged their own versions for a couple of thousand bucks – with duct tape after a Home Depot run, we assume."

"The Board’s unwavering loyalty to Mr. Shaw means that shareholders’ only path to change Norfolk Southern’s strategy requires replacing a majority of the Board."

"Without some necessary change in the Company's current structure, we believe a successful implementation of the Company's strategic plan is far from guaranteed"

"PSH's 70.2% net return in 2020 is the highest since inception of the strategy and the sixth year with net returns of 39% or more (on average, every third year)"

"We believe that Search is actually more closely linked to Access, AOL.com, and AOL Mail than the rest of AOL's owned content properties in its Display segment."

"“Cynical” and has “hesitancy” about Vykat due to known dangers of diazoxide; “problems with the study trial design”; small size of trial; “have to be cautious”"

"We observe that LSPD changed audit partners from Mr. Popliger, an expert in technology, to Mr. Simcoe who specializes in Entertainment, Media & Communications."

"This should be a concern for Danimer investors as new management could change direction from prior management, including a review of all existing partnerships."

"However much assets a company has left after paying off its liabilities all belong to the equity holders. Therefore, Liabilities plus Equity must equal Assets."

"According to State Deed Tax formula, Deed Tax = Purchase Price * 0.0033, this would reflect a purchase price of $392,000, far less than the $3M IIPR disclosed."

"Archer has overplayed the Defense opportunity and, given their limited team, is actively diversifying into another sector at a cost to their original pursuits."

"Signs that this is not an AI company are everywhere. 96% of INOD's workforce is overseas and its average employee generates less than $20k of revenue annually."

"So, who are these “new” institutional investors? Based on FFAI’s history, we would not be surprised if YT and other insiders were ultimately behind this round."

"Let us put it this way; we think this administration will ship YT back to China before it allows YT to ship Chinese EVs to the US without paying heavy tariffs."

"Хотел бы уточнить о возможности размещения четырех детей из ДНР в вашем отеле 22-27 марта 2026 г. для размещения их в семьи. Милые девочки возрастом 14-16 лет."

"Хотел бы уточнить о возможности размещения четырех детей из ДНР в вашем отеле 22-27 марта 2026 г. для размещения их в семьи. Милые девочки возрастом 14-16 лет."

"Хотел бы уточнить о возможности размещения четырех детей из ДНР в вашем отеле 22-27 марта 2026 г. для размещения их в семьи. Милые девочки возрастом 14-16 лет."

"Хотел бы уточнить о возможности размещения четырех детей из ДНР в вашем отеле 22-27 марта 2026 г. для размещения их в семьи. Милые девочки возрастом 14-16 лет."

"Do you accept Russian credit cards? Additionaly, do you have some beautiful local masseuses at your spa? Is it possible to book private sessions at our number?"

"The credit reports we obtained for GSX's 7 main operating entities show that GSX has apparently been overstating its net profit by an astounding 74.6% in 2018!"

"While GSX has been touting its impressive growth speed, we have uncovered that GSX in reality lags behind significantly in traffic data and market recognition."

"Coincident with our concerns about financial reporting quality, we observe that Enfusion also made changes to its language around revenue recognition policies."

"Lasertec’s lack of production reliability makes it a non-starter for widespread use inside wafer fabs and radically shrinks its TAM – total addressable market."

"We believe that Lasertec’s “Innovation Park” is a fraud and that key claims about any R&D or production activity, as well as its construction status, are false"

"Ferguson's US business has organically outgrown the market by an average of 300-400bps while delivering improving operating margins and increasing ROIC to ~23%"

"Spruce Point believes two key sell-side assumptions are flawed. First, JP Morgan's claim that 70% of handle comes from the NFL is inconsistent with state data."

"DSP's stock price has dramatically underperformed the broader equity markets and the S&P Information Technology Index over the last three and five year periods"

"Given the differences in equipment and processes, we find it inconceivable that ONP's gross margin could compare so favorably to those of the industry leaders."

"No. This was the only assets literally that's acquired from Media Ventures... — Udo Müller Co-Founder, Chairman of Management Board and Chief Executive Officer"

"Carlos Wanzeler fled the country to Brazil upon learning of the federal charges filed against him. There is currently a federal warrant for his arrest — US DOJ"

"“...we incurred an approximate 35% increase in scrap when producing units compared to the third quarter of 2023.” — Procept CFO Waters on Q4 2023 Earnings Call"

"Muddy Waters describes the EBITDA margin as unusually high. You have told us 20% in 2014 and 24.8% in 2015. How is it that the margin is so high? — Dr. Weimann"

"Defendant Victor Lee (“V. Lee”) is Chief Financial Officer and Secretary of Leadis. V. Lee signed the false and misleading Registration Statement. — Litigation"

"In the former official’s view, the contract price is greatly inflated, and was based on a false promise about the machines’ capabilities that he calls “a lie”."

"“BlackBerry's Radar could be compelling evidence that the company can use its mobile, embedded systems and security knowhow to grow in new industries.” — ZDNET"

"SZKY: It's all self-operated, no franchises. ... SZKY: (Overlapping) Yes, all self-operated. ... SZKY: A subsidiary. ... Investigator: A subsidiary. SZKY: Yes."

""Seasonality: To date, we have not experienced any pronounced seasonality, but such fluctuations may have been masked by our rapid growth." — Prospectus, p. 31"

"Developing a Warehouse Layout Design Framework for Fast Growing Companies, A Case Study at Oatly AB — Felix Geuken and Louise Jager, Lund University, June 2015"

"“…we believe there is underappreciated potential for Cognizant to unlock value as it matures and evolves its capital allocation.” — J.P. Morgan, September 2016"

""[U]ncertainties relating to interpretation and enforcement of legislation in China governing direct selling and anti-pyramiding" — Herbalife Q1'2017 Form 10-Q"

"「レーザーテックが住友製のステージを採用したのは、利用可能だったからです。つまり、磁気浮上のステージは購入できません。……であれば、レーザーテックが自前でステージを開発できるかというと、できません。……したがって、光源に続いて、ステージについても妥協してしまいました」 — KLAで極端紫外線マスク検査を担当した元幹部"

"「ファブ運営の経済条件の進化によって、ファブ環境でレチクルを活用するための当社の光学系とウェーハ検査の各ソリューションは、ますます魅力的になっています。つまり、極端紫外線の領域での当社の事業展開です。極端紫外線の領域でいえば、レチクルの90%以上は当社の装置を通っています。」 — ブレン・ヒギンズ (KLA CFO)"

"Kandela accuses Porch and its CEO “have engaged in a stunning and systematic pattern of fraud designed to prevent Kandela from achieving any earnout” — Kandela"

"His first major acquisition, $1.6 billion Holiday by Atria purchase, was described by Mitra himself as “our biggest capital allocation mistake.” — Shankh Mitra"

"“old,” “completely outdated,” “not very user friendly,” “prone to errors,” “cumbersome,” and states AI and machine learning claims are bogus. — IQVIA executive"

"At least two former Senior Accounting Managers on Glassdoor recently commented that Rollins is behind time regarding its software and working systems were old."

"I think it's some of it's just timing issues. But I think on average, you're going to see that's how we flow out year-over-year. — CFO Hoffman, Q4'24 Conf Call"

"a character-driven, only-in-America story about the enduring consequences, politics, and polarization of school shootings. — Stephan Herrera (LinkedIn profile)"

"IF YOU DEDUCT THE STANDARD MILEAGE RATE FOR THE X-WING FIGHTER, YOU CAN'T ALSO DEDUCT ITS ROUTINE MAINTENANCE COSTS. — The CPA 3PO (Rhymes with Orange cartoon)"

"the comptroller believed “it would be wholly inappropriate, based on the guidance in EITF [Emerging Issues Task Force] 99-19 to record the revenues net.” — SEC"

"「数字は申し上げられないですが」、「第2期工事が終了すると、更に生産量が増加する計画でおります」、「第2期工事も昨年10月からスタートしまして、完成した暁にはそれも生産に寄与する予定です。そういう意味では生産キャパシティの増強に取り組んでおります。」 — 岡林CEO (2023年8月7日および10月23日決算説明会)"

"To get there in the next few years, his plan is to annually double the number of stores signing up for its software. — Dax Dasilva, Globe & Mail, June 15, 2015"

"“102 patients...but the end of the study, we observed this problem with the blood result. And it was preferable to stop the study.” — Former Bioprojet employee"