Callouts & quotes from 37,061+ activist slides

"Resulting Pro Forma McDonald's is a world-class real estate and franchise business"

"Spruce Point observes recent promotional activities around the Frigo Cheese brand."

"Operating margins have severely eroded despite a robust macroeconomic environment."

"FOUR Restructuring Plans Have Been Approved By The Board Over the Past Three Years"

"We believe the Company’s SG&A structure may benefit from greater decentralization."

"60%+ upside from current price before additional value from operational excellence"

"No Credible Midstream Investors Will Invest in Phillips Today Given the Volatility"

"CLAIM: ELLIOTT NOMINEES ARE WEAK REALITY: MISDIRECTION TO HIDE FROM ACCOUNTABILITY"

"Huntsman operates at a significant free cash flow conversion deficit to its peers."

"PeptiDream Has a Number of Peptide Discovery Competitors Who Are Far Surpassing It"

"The nearly 100bps excess spread relative to the cost of debt is historically wide."

"Elliott urges you to use the GOLD universal proxy card or voting instruction form."

"Axon management is potentially misleading investors about its dependence on China."

"PepsiCo's 10.1% EBIT margin outside the Americas suggests significant opportunity."

"Spruce Point believes that 6 of 10 acquisitions should be categorized as failures."

"CHD management did not fulfill its promise and dropped the ball with no follow-up."

"CLAIM: ELLIOTT NOMINEES ARE WEAK REALITY: MISDIRECTION TO HIDE FROM ACCOUNTABILITY"

"CLAIM: ELLIOTT NOMINEES ARE WEAK REALITY: MISDIRECTION TO HIDE FROM ACCOUNTABILITY"

"Canadian National has been failing to meet its objectives under current leadership"

"The balance of power on Wall Street has shifted away from the bankers to the banks"

"SPARC solves the problems of conventional SPACs and improves upon PSTH’s structure"

"PSTH's share price increased 2% in 2022 through end of trading on July 25, 2022(3)"

"This strongly suggests that it is sitting on significant inventory it cannot sell."

"ASMLが新しく開発された極端紫外線光源に関する技術の独占的な受益者となり、業界で唯一の実用化した極端紫外線光源を持つ、この先端技術分野で事実上の独占企業となった。"

"レーザーテックは、陳腐化した深紫外線装置を「極端紫外線関連」として宣伝している。しかし、実は、レーザーテックの深紫外線事業は、同社の極端紫外線事業と同様に致命的だ。"

"下記のグラフで、棚卸資産高を売上高で割った数値に関して、半導体製造装置分野におけるトップ5社とレーザーテックを比較した。レーザーテックの異質さを視覚的に表している。"

"TSMCはレーザーテックのACTIS A300を「購入していない」。信頼できる製品だと「自信が持てない」。同社のA150も「信頼性が低くて」、「色んな問題がある」。"

"レーザーテック製のアクティニックのマスク検査装置においては、問題のある光源と光学系に加えて、もうひとつの重大な機械系の部品であるマスクステージにも重大な問題がある。"

"Elliott urges you to use the GOLD universal proxy card or voting instruction form."

"Elliott urges you to use the GOLD universal proxy card or voting instruction form."

"We believe Starboard was influential in AECOM's successful business transformation"

"Of the two “independent” geologists, only Ruijin Jiang, actually visited the site."

"Mitra is effectively “betting” $2.6 billion and calling it sacrifice, in our view."

"It's expensive and cumbersome to scale the industry-standard modular architecture."

"Both strategics and private equity firms have been active acquirers of CRO assets."

"The overall cost is high, and I think that's the hesitation as well as the budget."

"We redact names and titles, given the devastating nature of the expert's feedback."

"I've been not been impressed with Telaria's sales force; they're not well curated."

"Macy’s real estate portfolio represents more than 100% of Macy’s enterprise value."

"Detailed knowledge of executive compensation and succession and strategic planning"

"Under realistic assumptions, the Company's spending will outpace its expectations."

"We believe the current 97% occupancy rate will decline due to tenant deterioration"

"Elliott urges you to use the GOLD universal proxy card or voting instruction form."

"While the consumer environment has been challenging, JCP has vastly underperformed"

"We therefore adjust reported 2021 and 2022 revenues downward by -95.3% and -68.5%."

"共 1 位股东，最大的股东是 SanReno Therapeutics (Hong Kong) Limited，股东类型为 外国(地区)企业，出资比例为 100%。"

"ACMR Should Be Able to Easily Meet Consensus Revenue Even If China WFE is Flat YoY"

"Really: Is This True? Then Why did Bunge issue 4-year EPS guidance in July 2022(1)"

"It appears that ADI has too much overhead and excess capacity at the current time."

"In fact, we estimate that cash flow has collapsed by -37% since the 2018 spin-off."

"5 Year Compound Annual Return: PSH NAV Net of Fees vs. Indices Total Return in USD"

"97% STI Avg Payout & 106% LTI Avg Payout(1) for 26% Relative TSR(2) Outperformance"

"Wang and Fuhan Farming are almost certainly proxies for Muhejia and Chairman Yang."

"Today, 40% of the global airline fleet is leased compared to less than 2% in 1980."

"In summary, current management had ten opportunities to deliver blockbuster drugs."

"Wall Street research analysts risk-adjusted management's $10 billion sales target."

"The massive earnings guidance miss significantly damaged management's credibility."

"The other aspect is how much do these PDN patients really want to have an implant?"

"グローバルオンラインストアを設置し、消費者が自分に合った製品について理解を深め、シャワー空間そのものを「スタイリング」し、より高級感のある使用体験を提供すべきです。"

"Disposing of companies for zero consideration is effectively a management failure."