Callouts & quotes from 37,061+ activist slides

""WWW Puts Margin Run-rate Target In-sight nearly 12 mos. Ahead of Plan" - Stifel 11/8/17"

"“It’s a “bad business practice and based on pure greed,” one owner said.” — Boston Globe"

"Oh, holy sheep shit, all the time. — Ex-field reimbursement manager working with Harmony"

"BaFin is incompetent, because it can't see inside people's heads. — Hans-Martin Buhlmann"

"Everything except the actual results were positive in the quarter. — Piper William Quirk"

"“Existing relationships between the seller and Lasertec Corporation” — “Nothing of note”"

"EACH DIVISION SHOULD HAVE ITS OWN CEO, REGIONAL STRUCTURE, AND CATEGORY MARKETING HEADS"

"Since the IPO on the London Stock Exchange in May 2013, Platform stock has increased 1%"

"With the election of our two highly qualified directors, I believe we can do just that."

"An agreement hadn't been reached, yet Smart2Pay was marketing itself as a Nuvei Company"

"We believe Pfizer is a great American business that plays an important role in society."

"The Company spent nearly $70 billion on M&A at an implied ~3.3x “peak” revenue multiple"

"This report shows Hsieh’s statements are patently false – EDU has numerous franchisees."

"Independent Slate sees ample opportunities to stabilize sales and drive earnings growth"

"We Believe FIGS’ Business Momentum Is Deteriorating: A Curse For Retail “Growth” Stocks"

"Restaurant Brands International’s share price increased 72% including dividends in 2014"

"We believe this indicates that organic rate base growth is falling behind expectations."

"Spruce Point calls on Generac to provide more details of its investment in TEP V-A LLC."

"Why did the Board issue a $500 million security if KKR only wanted to own $150 million?"

"This is one more reason why the perception that AMT's cash flow is stable is incorrect."

"Importantly, from a customer check-out perspective, the $1.00 price point is a fallacy."

"Warning: The core of XPO formed around tiny acquisitions it paid virtually nothing for."

"In the 21st century high-touch “service” does not compensate for technological weakness"

"We believe Darden’s proposed Board is at best suboptimal and potentially dysfunctional."

"From 2007 to 2012, Darden’s stock price underperformed its Proxy Peer Group by over 40%"

"We believe Darden spends too much money, in the wrong areas, and with the wrong message"

"Despite the $4.2 billion increase in invested capital, Goodyear's NOPAT declined by 42%"

"We believe Dow Jones is meaningfully undervalued inside of News Corp’s portfolio today."

"Chart suggests QS cell performs far better at low temperatures than conventional Li-ion"

"The former employee flatly rejected the company's claim of low temperature performance."

"Red flags around scaling and manufacturability render Quantumscape’s cells a pipe dream"

"Wholesale supply of gasoline and other fuels clearly constitutes MLP-qualifying income."

"Claim that VRX “stuffed the channel” and falsely recognized revenue is verifiably false"

"We contacted Philidor and asked if the company was owned by Valeant; we were told “No.”"

"CTR warranted that its research on CCME’s bus-based LCD network was “actual, reliable”:"

"Why did the Board accept growth + profit – the “hallmark” of value – declining so much?"

"Shareholders deserve answers and a Board that will protect their interests at all times"

"We believe Fluor should be able to grow EBITDA following the reset in the base business"

"At current SOFR, we envisage scenarios in which BXMT's dividend is cut by ~55% to ~85%."

"We believe Darden’s proposed Board is at best suboptimal and potentially dysfunctional."

"From 2007 to 2012, Darden’s stock price underperformed its Proxy Peer Group by over 40%"

"We believe Darden spends too much money, in the wrong areas, and with the wrong message"

"Any aspect of the K-cup that was revealed in either patent falls into the public domain"

"The very high allocations to Goodwill raise suspicion about subsequent earnings quality"

"GMCR has not had much free cash flow and says it won’t have much for the next few years"

"Viator is a highly strategic asset and is the leader in the online experiences category"

"What is an infinite supply of negative return investment opportunities worth? Not much."

"A ‘proved reserve’ is an SEC term which is, in essence, a promise of future oil or gas."

"Share price underperformance is the ultimate proof that shareholders have been let down"

"In 2008, investors could have purchased Valeant's shares at ~0.3x 2016 Consensus EPS(1)"

"Valeant’s durable business has few peers among publicly traded pharmaceutical companies"

"We are short JOYY Inc. (YY) because we conclude that YY is a multibillion-dollar fraud."

"The Hello App Appears Derelict, With Longstanding YY Links Despite Supposed Bigo Origin"

"Warning: Employee counts also differ widely depending on what documents are referenced."

"The conversion ratio has remained stagnant in the 2.2% - 2.3% range for almost 4 years!"

"We have nominated eight independent, highly qualified candidates for Southwest's Board."

"Patent growth is rapidly decelerating while registered trademarks are in sharp decline."

"Zebra last claimed mid-teens growth which appears to be below the industry growth rate."

"The latest array has 8x the oligo throughput that Twist claims for its own contraption."

"The expert implied that the chip’s fatal flaw means “you’re definitely going bankrupt.”"