Callouts & quotes from 37,061+ activist slides

"We believe Huntsman is attempting to deceive shareholders regarding its track record on relative TSR."

"We believe Darden needs to follow the words it once said and revive the brand with excellent leaders."

"CONSOL is at $7.40 a share, giving it a $1.7 billion market cap, and a $5.5 billion enterprise value."

"And because gas is hard to store, we don't store very much of it – usually only about 40 days' worth."

"Unexplained revisions to key operating costs do not inspire confidence in MDA's financial statements."

"By normalizing MAXR’s results to peers, we estimate $50m of annual overcapitalization of intangibles."

"Midpoint of Company revenue guidance is for the rest of the business ex-EPS and auto sheet to shrink!"

"THIS BUSINESS WOULD LIKELY ATTRACT SIGNIFICANT INTEREST FROM THE EXISTING JV PARTNER OR ANOTHER BUYER"

"PRB and NAPP capex was mysteriously reduced upon divestiture, while NAPP capex mysteriously increased"

"With a seven-year extension, we believe the Company would be able to repay existing creditors in full"

"QSR remains an attractive investment opportunity despite significant share price appreciation in 2017"

"The fact that $283 million in EBITDA is required to reach $1 billion shows leadership's state of mind"

"A higher-than-stated rejection rate would cast a significant shadow over NMC's financial performance."

"To plug the gap on the asset side of the balance sheet, Oatly could be inflating PP&E asset accounts."

"WSP updated its assumptions related to goodwill testing that should give investors cause for concern."

"Set forth herein is a table which details our assumptions regarding potential operating improvements."

"Twist has reported rapidly rising gross margins every year, projected to keep rising per CFO comments"

"Twist appears to be stuffing a few bodies into Oregon in an attempt to create superficial legitimacy."

"The chief executive, Joseph Yam, and I did seriously evaluate the various options including unpegging"

"A highly undervalued currency + A highly undervalued option = An extraordinary investment opportunity"

"Poor operating margins and pension mismanagement have led to negative cash flow over the last 6 years"

"Fannie and Freddie’s g-fees have averaged slightly more than 20bps for more than the last two decades"

"Our estimates suggest that nearly all of Amdocs' sales growth in FY 2014 came from inorganic sources."

"Pershing Square has owned HHC since its spin-off from GGP in November 2010 and has never sold a share"

"HHC started conducting quarterly calls this year and plans to host its first Investor Day on May 17th"

"SBM is a building products provider with leading share in bonded pre-applied waterproofing membranes."

"We believe there is an opportunity to reduce costs by increasing regional manufacturing capabilities."

"We would review the Company’s investment strategy given the large focus in its lower return business."

"FMCN has been fraudulently overstating the number of screens in its LCD network by approximately 50%."

"Berry and Amcor have significant cost synergies, the biggest driver of which are procurement savings."

"We Are Concerned With The Current State of Disney’s Studios & Creative Processes Across The Portfolio"

"The Company provided shareholders with a roadmap for improving share price to ~$60 per share by 2020."

"The Company repeatedly told shareholders that its core business would produce record margins in 2016."

"The convertible, unlike a cash payment, now potentially puts shareholders at risk of future dilution."

"While Peanut Butter has not reached scale, its products are already in millions of electric vehicles."

"What price do you pay for 20% top line growth that should mature into high single digit EBIT margins?"

"Senior Distributors Encourage Other Distributors to “Team Build” if they Want a Growing Income Stream"

"As Herbalife Enters New Regions, ‘Drops’ In Mature Markets are Masked By the ‘Pops’ of New Markets..."

"There are numerous ways in which the Merlin@home devices violate security standards (and defy logic):"

"The stock is currently trading above consensus targets which we believe make it a poor risk / reward."

"This is the real issue with Casino - it has far more debt to enterprise value than investors realize."

"To stabilize the west wall and rebuild a new access ramp would require a large push at great expense."

"極端紫外線マスク検査装置の開口数を0.55に変えるためには、光源、光学系、その他の部品を抜本的に改造しなければいけない。しかし、レーザーテックにその改造を行う能力があるはずはなく、現に行った気配はない。"

"レーザーテックの高開口の発表は、急速に進化していく次世代の極端紫外線リソグラフィに置いて行かれないように、自社ではその関連の技術が完成していないにもかかわらず、早急に用意した見せかけの製品だったようだ。"

"Darden's cherry-picked time period and cherry-picked peer group is the only glimpse of outperformance"

"IQ inflated the purchase price for at least one program it licensed from Wuhan DDMC (“DDMC”) in 2018."

"Unfortunately, management is still attempting to obscure the fact that the total market is declining."

"CEO’s Potential $3.04 Billion Payout Dwarfs Career Earnings of Most Accomplished CEOs in REIT History"

"We believe BR has generally gotten more aggressive in promoting its Total Addressable Market ("TAM")."

"The Day Yahoo Bought Tumblr Was Virtually The Day Tumblr Started To Plummet In the App Store Rankings"

"Shockingly, it has a $25B market cap as an EUV story but lacks an EUV technology that actually works."

"It does not seem logical or realistic that Olam is forced to pass on its incentives to its suppliers."

"Level 3 derivatives create the net asset and are most likely overstated due to management discretion."

"our Consultant¹ said the intermediary was “acting as a placeholder” until a real buyer was interested"

"In 2024, the two aircraft sold with two CFM56-5B engines each were still on-lease to Global Crossing."

"A spate of recent high-level departures brings to mind the idiom about "rats fleeing a sinking ship.""

"DLO's outlier Take Rates are dependent on outsized revenue from foreign exchange ("FX") transactions."

"This was $43.4 million more than the market value at December 8, 2020 (the date of de-consolidation)."

"Furthermore, lowering Company's cost of capital by increasing leverage creates immediate equity value"

"We believe Platinum took advantage of the emerging SPAC market to begin to exit their position early."