Callouts & quotes from 37,061+ activist slides

"Despite ~$2bn in annual R&D, and $3-4bn in annual capex - far more than any competitor"

"I'm very confident in our sequential improvement in market share driven by innovation."

"Both Darden and Bloomin’s two largest concepts are in the Italian and steak categories"

"The NQ payment portal's lack of functionality is clear affirmation that NQ is a fraud."

"The Board has already committed to returning 75-100% of free cash flow to shareholders"

"We believe that a good time to buy a great business is when it is in temporary trouble"

"We believe Bristol-Myers can improve returns on R&D through more external partnerships"

"For example, the prevalence of cash buyers has reduced the impact of mortgage LTV caps"

"From Q4 FY24 through Q2 FY25, ELF Could Have Overstated Revenue by ~$138 mm to $188 mm"

"FND's average operating lease term is 12 years which makes it the highest among peers."

"Amdocs claiming a significant number of opaque one-off tax benefits on a yearly basis."

"Central Valley’s Saputo Cheese Agrees to $170,000 Penalty for Clean Air Act Violations"

"We believe GCP should better integrate marketing into the product development process."

"Not only did they miss the $1.2 billion cost-out target, but costs actually increased."

"Textile Effects has NEVER come close to achieving its long-term Adjusted EBITDA target"

"Publishing should target a long-term leverage ratio of 3.25x - 3.50x total debt/OIBDA."

"If AOL is the most complex division, shouldn't it be “liberated” as Mr. Case suggests?"

"DV should further disclose what percentage of revenue is at risk from client disputes."

"MLM Sponsors can be held responsible for misrepresentations by independent contractors"

"Purpose of an NC: 1. Promote two Supervisors per month 2. Duplicate the Nutrition Club"

"For a mere $10k, we were also able to plant 5,000 trees with the Arbor Day Foundation."

"Capitalizing more expenses has the obvious impact of enhancing current period margins."

"We Have Serious Concerns About Intuit’s AI Hype And Customer Data Privacy And Security"

"We adjust UEC's capital structure for stock issuance and asset retirement obligations."

"This potentially could have been the trigger for more aggressive financial strategies."

"同社のCEOとCFOのはぐらかしの話術はまれにみるものだ。四半期ごとの決算説明会ではアナリストの質問に対して、当たり障りのない、不明瞭な答えばかりでその場を切り抜けている。"

"『では、どのくらいのデータがありますか。と言うのも、あんたらがウシオ製は大丈夫だ、と言いましたよね。それなのに、依然として長期的な性能関連のデータを見せてもらっていません』"

"Urashima光源は「ウシオ製の光源と少なくとも同じほどのダウンタイムです」。「検査においては両方でぴったり同じ問題が起きる」。「同じ技術的な問題を抱えているでしょう」。"

"「レーザーテック製の装置については、問題を直してもらったり、工学的変更を加えてもらったりするために、間近の出荷予定を延期してもらっている顧客がある、と聞いたことがあります」"

"Natera also has a much lower cost structure for Prospera than CareDx has for AlloSure."

"GCP’s settlement proposal to Starboard has been greatly mischaracterized by the Board."

"The Red Lobster Separation may result in a permanent destruction of shareholder value."

"Tripadvisor owns and operates a collection of highly valuable online travel businesses"

"We believe Fluor has significantly less competition in the construction industry today"

"BR’s Timeline of Highly Concerning And Suspicious Activity Suggests Potential Problems"

"BR’s Timeline of Highly Concerning And Suspicious Activity Suggests Potential Problems"

"We believe Dow Jones is a high-quality business and should garner a premium valuation."

"BLI machine only works for about half the time for different experiments and workflows"

"Such transactions are for moving and storing large piles of cash with dubious origins."

"HMA returned <1% total shareholder value from 2003 to 2012 – making it a “Lost Decade”"

"Extensive executive and director leadership in post-acute care services and operations"

"We believe as little as 20% of Aerospace Products volume is true module-swapping work."

"Thus we think that the real FX spread for large volume contracts should be under 1.2%."

"Returning capital and addressing operational challenges would yield significant return"

"CXW addresses a total U.S. market that exceeds $65bn, of which only ~8% is outsourced."

"Historically, inmate populations in the U.S. have grown regardless of economic factors"

"Rebuild investor trust through a near-term cancelation of KRW 2.8tr of treasury shares"

"Rebuild investor trust through a near-term cancelation of KRW 2.8tr of treasury shares"

"We believe that a good time to buy a great business is when it is in temporary trouble"

"Electric vehicles. We don’t know which brand will win, but we do know they are coming."

"They should beat consensus, which hasn't adjusted to recent commodity price increases."

"R&D spend at ACMR and other Chinese WFE players is in line with that of Western peers."

"We believe Autodesk can meaningfully improve its combination of growth + profitability"

"Autodesk's quality of earnings is subpar and a point of frustration among shareholders"

"Incremental margins are expected to be BELOW Autodesk's adj. operating margin targets!"

"At least 500bps of S&M cost savings (~$275mm) and 300bps of G&A cost savings (~$165mm)"

"At least 500bps of S&M cost savings (~$275mm) and 300bps of G&A cost savings (~$165mm)"

"The ADP Board Is Committed to Evaluating Every Decision With a Shareholder Perspective"

"How has POET managed to only make $2.3 million since 2020 while raising ~$538 million?"

"We think that the equity market will follow the credit market and re-rate the company."