Callouts & quotes from 37,061+ activist slides

"An SPS conversion would severely impair the value of Treasury’s stakes in Fannie and Freddie and preclude any new private capital raise"

"Spruce Point believes Zillow is adding substantially more earnings volatility by expanding from nine Enhanced Markets to forty in 2024."

"Regardless of market or portfolio volatility, PSH has continuously maintained conservative leverage levels and investment grade ratings"

"It is unfortunate that Timken finds it necessary to use a lower quality peer group to attempt to justify the Company's trading multiple"

"Our research shows that Inspire's actual TAM is less than 2% of the $10 billion per year (500,000 units per year) TAM Inspire promotes."

"The combination of the company tender and share purchase by PSCM affiliates has reduced the free float of PSH by 24.5% since April 2018"

"LOW's share price including dividends increased 8% from our average cost at inception to December 31, 2018, and 8% year-to-date in 2019"

"FNMA and FMCC share prices decreased 60% and 58%, respectively, in 2018 and increased 141% and 130%, respectively, year-to-date in 2019"

"Recent press reports (Feb '19) indicate both Tencent and KKR are exploring bids valued at $23bn for 50% of UMG (i.e. $46bn total value)"

"Had Leidos accurately reported the $6m sales contribution in Q2'19 vs. the $12m inflated sales results, the story would look different!"

"The commentary is devastating, indicating that the purported hyperphagia benefit in the pivotal withdrawal study was a cruel deception."

"For the last 8 quarters, the increase each period is 300 or 400 patients, to the penny – a curiously consistent and repetitive pattern."

"Whatever statements the author is referring to strike us as fiction, as we are aware of no such trial that enrolled drug-free patients."

"This combined with the Chinese New Year holidays when economic activity is generally low sets WUBA up for a horrible beginning of 2020."

"We believe Southwest’s stock can achieve $49 per share within 12 months, representing a highly attractive 77% return during the period."

"We believe Southwest's stock can achieve $49 per share within 12 months, representing a highly attractive 77% return during the period."

"CEO Seifi Ghasemi has begun a transformation of Air Products, which we expect will continue to create meaningful value for shareholders"

"Any engineering efforts to correct this major deficiency would impose delays and cost overruns beyond those already realized by Archer."

"The presence of more legally suspicious individuals who are also involved with Trulieve and Burnette, should be troubling to investors."

"Why would Kim hide the accolade of running his employer's most significant division? And, who runs the show if Kim is 6,500 miles away?"

"TSMC is not buying the High-NA Lasertec tool, to my knowledge. And they're the company that does high volume, high-performance chips..."

"Lasertec had “no data” to show for the A300; “no real world case studies” or independent evaluation; “no real way to discern” any value"

"Shareholders of UK-listed companies have previously approved transactions involving a United States relisting (by significant margins):"

"Spruce Point believes Kalshi will continue to operate while in litigation and DKNG's full year '25 revenue consensus is likely at risk."

"Some analysts suggest that DKNG could pivot to a prediction market model, but we believe doing so would likely devastate its economics."

"Proposal: Introduction of a capital allocation plan for the Company which includes future disposals of shares in Oriental Land Co., Ltd"

"“That said, we remain very committed to driving leverage below 4x as quickly as possible.” — Matthew Proud, CEO (Q4 2024 Earnings Call)"

"A ton of work is needed to right-size this company, but it is fixable; they just have to want to do it... — Melius Research, April 2024"

"In the words of Defendant Heap, its technology "collect[s] everything, automatically." — Q.J. et al. v. PowerSchool Holdings LLC et al."

"A ton of work is needed to right-size this company, but it is fixable; they just have to want to do it... — Melius Research, April 2024"

"Keurig brewers now are in approximately 6% of the estimated 90 million U.S. households with a coffee maker — GMCR Q3 2011 Earnings Call"

""If a company loses its way, it loses its culture. You really have to be mindful of both those things simultaneously." — Gregg Saretsky"

"A ton of work is needed to right-size this company, but it is fixable; they just have to want to do it... — Melius Research, April 2024"

"The tax code is too complicated—everyone needs an advocate in their corner to get the best outcome during tax season — Intuit Blog team"

"the machine HBOP claims to be purchasing is “a theory” in terms of capabilities, and no such machine has been produced before in China."

"We are concerned the Company is perpetuating a misleading narrative that “all is well” at Autodesk in order to maintain the status quo."

""Beacon is a vanity machine that's 'very, very' expensive with double the cost per assay of traditional methods." — Expert Consultation"

"I wouldn't be able to use this for early-stage drug discovery; even if it was affordable, I wouldn't use it. — Takeda ex-lead scientist"

""when it came to serious discussions, I [Schoen] recommended to the board that we look at all our alternatives." — Chairman Bill Schoen"

"WHAT? THEY'RE ALREADY DIGGING THE MINE?? NOPE — BURYING THE EPA COMMENTS THAT OPPOSE IT. — Steve Sack, The Minneapolis Star-Tribune, MN"

"A ton of work is needed to right-size this company, but it is fixable; they just have to want to do it... — Melius Research, April 2024"

""And then Element i+. This is a product that we've been working on now for several years." — Wilson at JPMorgan Conference January 2021"

"We have an investment of more than $2.5 billion in Phillips 66 (the "Company" or "Phillips"), making us one of your top five investors."

""No, it never went anywhere." — Senior pharmaceutical executive/scientist, previously at Abbott and now at another major pharma company"

"A ton of work is needed to right-size this company, but it is fixable; they just have to want to do it... — Melius Research, April 2024"

"The quantum component's added benefit is "highly questionable" and a source of internal skepticism and debate. — Former D-Wave engineer"

"there's no confidence in my opinion that it will be a reliable product. — Ex-KLA director of engineering focused on EUV mask inspection"

"“These improvements have enabled achieving a performance and reliability level that exceeds the HVM targets” — Intel/Lasertec presenter"

"“Baking soda and peroxide and keep ‘em coming!” — Tooth character; “Someone must have called him ‘Yellow’ again.” — Bartender character"

"Because Sunrun cannot explain the reasons for the differences, we conclude that Sunrun’s Subscriber additions are outright falsehoods."

"While management is making progress with their plan to increase margins to 17-18% by 2018, we believe optimized margins are far higher"

"We urge the Company to embark on a cost cutting program that addresses both margins and the disposal of excess underperforming assets."

"CFO And Chief Corporate Development Officer Biographies Obscure Leadership Roles At A Company Whose Parent Forfeited Criminal Proceeds"

"Despite recent events, we believe that all of the key drivers of Chipotle’s powerful economic moat and long-term success remain intact"

"We find it extremely worrisome that tax rates pose material risks to corporate earnings and that Luxembourg is in fact lowering rates."

"There's certainly a group still behind the scenes pulling the strings at this Company and I'm not prepared to say any more about that."

"There's certainly a group still behind the scenes pulling the strings at this Company and I'm not prepared to say any more about that."

"Only 2 out of the Company’s 10 current directors have meaningful, relevant operating experience at a retailer outside of Office Depot."

"No companies in the battery value chain come close to achieving 78% net margins, or even 78% EBITDA or gross margins, for that matter."

"Box’s revenue growth rate continues to decline despite repeated promises from management regarding a reacceleration of revenue growth."