Callouts & quotes from 37,061+ activist slides

"Member owner hospitals receive 30% of gross administrative fees on purchases made through Premier GPO, versus 60-70% previously"

"Nomad has called Iglo its “anchor investment”(2), and intends to use this asset as a base for future food industry acquisitions"

"We have converted our short position in Herbalife to in-the-money put options that represent ~2% of capital across the funds(1)"

"It appears that Oatly’s U.S. production facility in Millville, NJ was poorly planned and didn’t factor in expansion challenges."

"BK claims that has significantly exceeded its targets through 2013 but there is no observable evidence in support of this claim"

"BNY Mellon needs to hire key leaders and talent to develop a leadership position with regulatory groups in priority geographies"

"The deficiencies in the Revised TOB price are also evident from the shockingly low implied valuation under other methodologies."

"P&G must enhance the process today by hiring senior leaders with external experience who can be candidates to be P&G's next CEO"

"We believe that the onshore cash is far less than what NQ claims, and that it uses a portion of the excess to commit its fraud."

"Furthermore, despite a significantly larger revenue base, management’s visibility into the business has been severely impaired."

"Strong operational execution and new product launches coupled with deleveraging should drive equity returns from current levels"

"Celgene's four blockbuster marketed products account for 94% of 2018 revenues – the majority of which will disappear after 2026"

"This year, 218,000 people, the most since the massive 2003 civil liberty protests, marched in Hong Kong's annual July 1st rally"

"CP's MYP includes: - 91 new locomotives in 2011 / Q1 2012 - $500mm of capex for new and remanufactured locomotives from 2011-14"

"Almost one month after this announcement, Lorenzo Simonelli, Chairman and CEO of Baker Hughes, stepped down from C3.ai's Board."

"Guaranteeing the monthly payment of interest and principal on a 30-year, fixed-rate, prepayable mortgage is a low-risk business"

"The GSEs satisfy the needs of key market participants. Proposals to replace them with an untested system carry significant risk"

"We see 25% - 40% downside in HIMS shares, and perhaps more should regulators take actions that could impair its business model."

"We believe HIMS does little more than breathless hand-waving when it comes to the potential international TAM for its offering."

"Spruce Point has concerns that Saputo will be challenged in meeting at least three of its five pillars to boost organic growth."

"Four of Huntsman’s five reporting segments failed to achieve the Company’s Adjusted EBITDA targets set at its 2014 Investor Day"

"Over the next five years, revenue is expected to grow to $13.4 billion in 2010, representing a CAGR of 6.9% from 2005PF - 2010."

"Courts have established that a 10% restocking fee is large enough to burden distributors with a material non-refundable expense"

"Using this data, we estimate that in the 2006-2012 period ~1.1mm Sale Leaders failed and left the business, a ~90% failure rate"

"It is our view that CSTE will have to impair their finished goods inventory held by such agents, (i.e. receivables impairment)."

"We estimate that SBUX will generate a three-year IRR of at least 12% if annual EPS growth is ≥ 9% and its P/E multiple is ≥ 21x"

"Guaranteeing the monthly payment of interest and principal on a 30-year, fixed-rate, prepayable mortgage is a low-risk business"

"Ancora has a multi-year history with the Company and was a top five shareholder of Forward Air from mid-2020 through late 2022."

"Welltower's 2026 proxy reveals a compensation peer group that appears designed to justify, rather than evaluate, executive pay."

"The reality is so far from BLI's grandiose hype that we believe its product claims and practices may constitute outright fraud."

"machine's pricing needs to drop 75-95% to be viable; TAM is small, limited to 75-80 of the largest biotech/pharma/CDMO players."

"The CEO forecasted margin improvements from the project in early 2019, but instead Non-GAAP EBIT margins fell 150 basis points."

"We estimate that Olam could have to raise or refinance a total of S$4.6 billion in the next 12 months in order to stay solvent."

"Despite having a Clawback Policy, Rollins has made no reference to enforcing it against the former CFO or any other executives."

"We suspect this language changed because whole engines make up a material portion of inventory and Aerospace Products’ revenue."

"However, in the May 2022 Results Presentation for 2021, $471 million become $56 million; and, $343 million became $260 million."

"As shown at right, Fairfax's reported fair and carrying values for EXCO have consistently been divorced from its market values."

"Volume of DTC options creates Consumer confusion and requires each Content Owner to compete on every vector of differentiation."

"This unorthodox offer suggests that the number of agents on BEKE’s platform could be inflated by buyers disguised as employees."

"CXW’s earnings quality has improved since 2007 as its Owned & Managed segment now accounts for more than 90% of Facility EBITDA"

"FNMA and FMCC share prices have increased 4% and 7%, respectively, from our average cost at announcement date to April 18, 2017"

"However, as we focus on decarbonization, aluminum is an inferior choice, and would be hurt much more by a potential carbon tax."

"Zinc today is about 30% of the revenue. All I have time for is to say that zinc is another commodity used in galvanizing steel."

"Our forensic financial analysis has identified numerous reasons for caution and skepticism beyond those previously highlighted."

"REZI’s “Exclusive Brands” growth story is not by accident. We believe it is because it has little edge in many brands it sells."

"However, to have faith in these goals, REZI should provide reliable and consistent metrics for investors to track its progress."

"Spruce Point observes that REZI's leverage has materially increased while cash flow available for debt reduction has decreased."

"That specific company is extremely unhappy with Ginkgo, and it's very tragic because they have to work very closely with Ginkgo"

"we find that AFAM’s “true” bad debt expense was at least 4.5% of net service revenue – nearly 2.5x the figure reported by AFAM."

"This is circular reasoning: He is assuming that which he seeks to prove, namely that ultra-low rates actually help the economy."

"One KOL called it "the dumbest study design" and "greaseball," lamenting why Nevro doesn't "just come out with a normal study?""

"Vote the GOLD card FOR Elliott’s highly qualified board nominees and proposal calling for annual elections for all board seats."

"Vote the GOLD card FOR Elliott's highly qualified board nominees and proposal calling for annual elections for all board seats."

"We believe CLEAR trades at an unwarranted premium to other technology-centric and growth-oriented consumer subscription models."

"For these reasons, we believe specialized industry expertise is key to drive a fast return to profitable growth at the Company."

"As you can see, the hospital segment is forecast to grow from zero to more than 40% of athena’s revenues... How likely is that?"

"Accordingly, most doctors who are going to adopt EHRs have already done so, and the greenfield opportunity has been penetrated."

"In 2018, Bayer will add Damoctocog alfa to the hemophilia franchise, putting itself one more step ahead of generic competition."

"Despite years of claiming that mass production capabilities are imminent, Red Cat’s manufacturing capacity is likely undersized"

"Guaranteeing the monthly payment of interest and principal on a 30-year, fixed-rate, prepayable mortgage is a low-risk business"