Callouts & quotes from 37,061+ activist slides

"Due to these and other reasons described herein, VOTE AGAINST Michael Dell and Silver Lake’s self-serving buyout offer."

"We do not believe these candidates are the most capable or experienced executives to lead Darden through its turnaround"

"We believe Darden can reduce food costs through simple operational controls that will also enhance the guest experience"

"A well-designed international franchising plan will prioritize strong partners, consistent operations, and local tastes"

"We really struggle to see which Director has the professional capability to oversee these complex investment decisions."

"The people who were working on this case have left that company, and I'll tell my colleagues and manager to keep quiet."

"Hua Tai has SAIC financials for 2014-2016, and appears to have been wholly incapable of guaranteeing a $2 million loan."

"Since Q4 2007, Target’s earnings per share growth has been significantly less than Wal-Mart’s earnings per share growth"

"Will represent a small percentage of fund capital in the aggregate and an appropriate "return on invested brain damage""

"Hess Claims Process to Update Directors Began Last August But Hess Pushed Out Sam Nunn Who Was Actually Added in August"

"He ran the sprockets off of established hits when he should have invested more to develop fresh content and franchises."

"Valeant's disciplined focus on lower-risk, higher-return R&D projects has led to an R&D ratio that is lower than peers'"

"Even under Engine's conservative scenario, Veritas can pay $25-$26 per share and still earn a 5-year IRR north of 17.5%"

"NO legacy directors were refreshed between 2018 - 2021; new directors were ALL added by expanding the size of the Board"

"AWS promotes Edgio's Involvement in streaming the Super Bowl and the size of the network capacity as #1 or #2 globally."

"We do not believe these candidates are the most capable or experienced executives to lead Darden through its turnaround"

"We believe Darden can reduce food costs through simple operational controls that will also enhance the guest experience"

"A well-designed international franchising plan will prioritize strong partners, consistent operations, and local tastes"

"But, the point I’m making is that our DCF-derived value isn’t too far from the current market values of the pure plays."

"Spruce Point believes Xylem's EPS guidance gives an incomplete picture of the true economics of the Evoqua acquisition."

"The Stronger Southwest plan ambitiously addresses the Company’s key issues and delivers a brighter future for Southwest"

"New leadership to be laser-focused on executing against plan targets, with a refreshed Board providing strong oversight"

"IPO/Sale of DCP Midstream yields $7/share, plus an additional $4/share from normalization of natural gas and NGL prices"

"While Bakken Competitors Are Focused on Maximizing Asset Potential, Hess Conglomerate is Burdened by Yesterday’s Issues"

"Out of everything that could be achieved, this is all that management and its hand-picked nominees are willing to do..."

"Management has not articulated a coherent strategy as to how Arconic’s operating activities further the Company’s goals"

"In Arconic's 2017 proxy statement, the Company disclosed that they had traded away company assets in exchange for votes"

"Benefits of greater shareholder involvement are already clear, but without continued collaboration, progress will stall"

"These connections between performers and PUs further support our estimated that YY has fabricated ~90% of gift revenue."

"Will represent a small percentage of fund capital in the aggregate and an appropriate “return on invested brain damage”"

"MDLZ’s share price including dividends has increased 17% from our average cost at announcement date to January 19, 2018"

"The issues cited represent serious and harmful corporate practices in service of continuing to sell a troubled product."

"These services on the “Unity® Global Platform” are different services and technologies than what is deployed in Canada."

"In the past two years, we estimate insiders have monetized £1 billion, net, via selling, collaring, and pledging stock."

"In an interview with a former Anta senior manager, (Mr. B.) we confirmed Kunming Anzhi is also considered a subsidiary."

"Peng Qingyun and Peng Qingqi are two brothers with a very complicated professional and business relationship with ANTA."

"Therefore, we estimate a low, middle and high range for new capacity that implies an 11% - 48% increase in capex costs."

"The provision was revised to a high of C$246.9 million, amounting to ~15% and ~23% of Wood E&I's gross and net revenue."

"Zebra's Levered Acquisitions And Expensive Bets In Robotics, Machine Vision And AI Look Troubled And Are Likely To Fail"

"Curiously, ever since the inventory charges stopped, EVM's segment's gross margins have expanded by 540bps in YTD 2024."

"Since joining the board in December 2015, Telecom Italia has dramatically underperformed its peers and broader indices."

"Accordingly, a lowering of HASI's discount rate can mean tens of millions in extra annual non-cash, unrealizable gains."

"Twist has one of the most horrific competitive positions we have seen - which helps to explain its mind-bending losses."

"P&G's organic sales growth has deteriorated over time... And has significantly underperformed the peer group since 2011"

"Most importantly, we seek to help companies we invest in achieve value creation through improved operating performance:"

"The Park began in 2011 with RMB 6 billion in investment and closed in 2014 having failed abysmally to attract visitors."

"The formal commitment of the Exchange Fund will be limited to redeeming any amount of the note issue at the fixed rate."

"McDonald's management stated that, assuming adequate value creation, none of these issues would prevent a restructuring"

"Samsara derives almost 30% less annualized license revenue from forward facing cameras compared to dual facing cameras."

"Yet, ELF serially raised guidance starting with this call – even as it was dropping its China purchase volumes by ~2/3:"

"We are seeking Board and management change to enhance the long-term performance and competitive position of the company"

"The combined market cap of the private mortgage insurers that have operated continuously since 2000 has declined by 50%"

"We believe that even a family medicine physician with a special interest in dermatology is NOT an actual dermatologist."

"Phillips 66 (NYSE: PSX) CEO Mark Lashier has been richly rewarded for failure, reaping $79M in compensation since 2022."

"We estimate that revenue per new store fell from $15.0 to $12.4 million ($178 to $172 per sqft.) between 2022 and 2023."

"Quarter-over-quarter sales growth consistently higher in acquisition periods, and near zero in non-acquisition periods."

"New leadership to be laser-focused on executing against plan targets, with a refreshed Board providing strong oversight"

"The Stronger Southwest plan ambitiously addresses the Company’s key issues and delivers a brighter future for Southwest"

"Spruce Point has identified at least eight of twenty-nine U.S. production facilities marked with recent EPA violations."

"We are confident in our ability to identify high-quality board members who are committed to creating shareholder value."