Callouts & quotes from 37,061+ activist slides

"Dropbox just signed the biggest office space deal in San Francisco history — 736,000 square feet — Becky Peterson, Business Insider."

"I'd say, RFID challenging kind of second quarter on compares from cycling large opportunities a year ago. — Zebra Q2 2024 Conf. Call"

"“Instead of four people managing four people, it should have been one person managing four people.” — Former Bristol-Myers Executive"

"System And Method For Identification Of Non-Human Users Accessing Content — Ryan Gomez, Aaron Doades, Matt McLaughlin, Roy Rosenfeld"

"The postmarketing data should also be monitored for sudden deaths and cardiovascular and respiratory adverse reactions. — Petitioner"

"「問題が悪化したのは2年前です。『顧客に出荷できない』と言い出しました。出荷すればするほど自社の負担になり、利益を喰ってしまいます。......光源に問題があるからです。そのために、まず顧客が発注を延ばしています」 — KLAで極端紫外線マスク検査を担当した元幹部"

"2022 年 9 月 30 日を以て、弊社所有物件となりましたが、機械実習棟を除き、2023 年 9 月 30 日を期限として、当面は東芝グループの利用が継続されます。 — Lasertec Corporation (2022/9/30 News Release)"

""the first, preeminent, longest-tenured and pioneering owner, operator and developer" — Alexandria Real Estate Equities proxy filing"

"Management expected doses sold to increase every year after 2023 — Starboard Value (annotating Pfizer Q4 2022 Earnings Presentation)"

"... Tokyo Dome had been horribly slow to modernise... many of the changes [Oasis] had suggested are now set to be implemented. — AFR"

"MediaExpress’ media is much lower cost than traditional media, which is the main reason we chose CCME. — China MediaExpress Holdings"

"A June 2016 news story drawing from a rent24 press release reported that rent24 was founded by Amir Dayan and Robert Bukvic in 2015."

""We have taken our eye off the ball a little bit with respect to refining." — Mark Lashier (CEO), January 2023, GS Energy Conference"

"Yep, I agree 100%...that's what I would do probably...I would consider it for off-label use. — Nephrologist who manages PWS patients"

"As an investor, I would prefer the convertible bond because it gives me the option of additional upside. — Financial Modeling Course"

"Air Chateau International’s planned purchase of up to 100 Midnight aircraft worth up to $500 million — Archer Aviation Press Release"

"Huishan Dairy used fake biological asset mark-ups to boost its financials, the company was exposed by Muddy Waters in December 2016."

"However, RUN's Creation Cost decreased only 12% over the period from 2015-2020, exceeding industry costs by $1.66 per watt in 2020."

"FNMA and FMCC share prices increased 194% and 183%, respectively, in 2019. FNMA increased 2% and FMCC is flat, year-to-date in 2020"

"As a percentage of sales, labor costs are the only level of BWLD's restaurant-level expenses to have increased over the last decade"

"FNMA and FMCC share prices have increased 66% and 73%, respectively, from our average cost at announcement date to January 20, 2017"

"Incumbent Board has lost all credibility and it would be reckless to leave those that created this situation in charge of fixing it"

"While finance and insurance (F&I) income drives ~50% of Carvana GPU, less than 20% of CarMax’s GPU (Ex-CAF) is attributable to F&I."

"In contrast to the Procept pitch, many urologists fundamentally disagree that Aquablation is well-suited to treat all BPH patients."

"XPO giving itself 100% credit for something, despite only owning 86.25% and adds these items to EBITDA when they should be deducted"

"We do not have a “canned” answer – nor do we have any interest or motivation to do things that will harm the value of the business."

"Whatever Mr. Mathison’s motivations for joining NQ and saying what he has, it is clear that investors should not find him credible."

"How could Xerox possibly justify valuing Fuji Xerox at an enormous premium when this massive accounting scandal remains unresolved?"

"We believe there is a $215 million - $326 million EBITDA improvement opportunity through a renewed focus on operational excellence."

"We believe using nonstandard product specs heavily contributes to Darden's excess food costs without improving the guest experience"

"We believe the valuation discrepancy between News Corp and The New York Times Company represents a huge value creation opportunity."

"If management can successfully execute on a margin improvement plan, we believe GoDaddy shareholders will be meaningfully rewarded."

"Phillips' problems originate from its inefficient conglomerate structure, which obscures value and hinders operational performance."

"We are reminded of similar under-the-radar but prescient articles on Theranos by some academics, well before it was widely exposed."

"A VW employee replied “Who knows” when we asked if it was a forgone conclusion that QS would be their solid-state battery supplier."

"In our view, Pershing Square has established a track record of creating shareholder value in retail, consumer, and other businesses"

"A cache of IonQ’s site from 2019 shows a tabletop resembling a Willy Wonka or steampunk factory, with lasers and Nikon-like lenses."

"36% of Q1-Q3 revenue came from Duke/UMD, but quickly doubled to 70% in Q3 – just as IonQ needed to show growth for the SPAC listing"

"An investment in Valeant shares on the day Mike Pearson became CEO has appreciated 25x in six years including dividend reinvestment"

"The Court can rule on whether a generating station exceeds the Statutory Capacity Threshold so that development consent was needed."

"A year after the procedure, 56% of patients were free from all atrial arrhythmias off AADs, and 69% were arrhythmia-free with AADs."

"We believe Fluor operated in an overly competitive EPCM market where growth was often prioritized over discipline and profitability"

"We believe a key driver of Fluor’s share price reaction was investor disappointment with its proposed monetization plan for NuScale"

"In truth, Pure's marketing punches way above its weight, as the company's stagnant share is about equal with Dell, IBM, and NetApp."

"There is a notable omission in career history from 1998-2002 on his biography where he joined Steven Berrard at Gerald Stevens Inc."

"We apply BOOT's gross margin and SG&A guidance that was issued for Q4'23. We think the most reasonable EBIT would have been $54.8M."

"We believe there is a $215 million - $326 million EBITDA improvement opportunity through a renewed focus on operational excellence."

"We believe using nonstandard product specs heavily contributes to Darden's excess food costs without improving the guest experience"

"The IPO of WE will highlight its $14 to $16/share value based on trading multiples for comparable Canadian infrastructure companies"

"Another former executive who worked at ANTA headquarters, “Mr. B”, corroborated that ANTA controls most of its Tier 1 distributors:"

"WSP should clarify why India is uniquely important to its financial reporting considering whistleblower allegations of tax evasion."

"The ROIC turned out to be only 18% and IRR 3%. Of course, without the bailout led by Invesco, Napo would have been a complete loss."

"Phillips 66's first-quarter earnings report on April 25 comes amid a long, frustrating period of underperformance versus its peers."

"The public brand of BNY has not taken root with the press, investors, advisors, high net worth individuals nor potential employees."

"Comparing the occupancy performance of Simon & GGP to that of smaller mall REITs shows the benefit of scale in leasing negotiations"

"We note that in 2006, Goldman Sachs performed DCFs of Wailea and Haliimaile, valuing the projects at $144m and $186m, respectively."

"Alphabet should follow Apple's capital allocation strategy and become "cash neutral" over time through increased share repurchases."

"FNMA and FMCC share prices have increased 66% and 73%, respectively, from our average cost at announcement date to January 20, 2017"

"However, when the dust settled AGO was able to recover over 70% of its losses by suing the banks who sponsored the deals for fraud."

"Mainland Chinese home buyers are taking advantage of an undervalued HKD. 30% to 40% of luxury new home sales are to Mainland buyers"