Callouts & quotes from 37,061+ activist slides

"Amdocs shows less variation in its margin from 2013-2018 by over a factor of 5"

"Spruce Point finds evidence of consolidation in the U.S. string cheese market."

"Darden created significant shareholder value once the Board was reconstituted."

"Such contracts and arrangements are very common in energy infrastructure today"

"Despite improving operations, Taubman shares have fallen over 25% year-to-date"

"Huntsman failed to achieve its 2018 Investor Day share price improvement goal."

"Telephony ARPU at TWC is projected to decline from $42 in 2006 to $36 in 2009."

"As we previously illustrated, DV's product is less suited for smaller clients."

"We believe that the actual ROI XL's customers generate on average is NEGATIVE."

"XL DOES NOT HAVE ENGINEERING TALENT OR KNOWHOW TO COMPETE IN ELECTRIC VEHICLES"

"Why does Herbalife so heavily promote the R&D and science behind its products?"

"Herbalife may be running out of growth opportunities to continue its expansion"

"The shipping data clearly shows that Axon is becoming more dependent on China."

"CSTE’s market penetration figures are inflated in which case the data is wrong"

"Strengthen management by immediately bringing back Chuck Bunch as Chairman/CEO"

"The window to buy before institutional consensus catches up is open right now."

"Warning: Many of the same people in key management are still at Mettler today!"

"Warning: Mettler recently suspended historical disclosure of sales by segment."

"Big Increase In Accrued Severance, Is This Signaling More Workforce Reduction?"

"Why should we expect Hill-Rom's legacy business to accelerate so dramatically?"

"ウシオ製の光源はプラズマの制御不能に伴う変動によって暗いフレーム、あるいは誤検知というような問題の原因になる。一方のUrashimaも出力も照度も足りない。"

"「はい、研究開発用の装置として随時に使う程度です」「つまり、生産に連動させて使っているわけではないのですね」「はい、生産活動に直接連動させて使っていません」"

"「生産活動に連動した使用に適合しない装置だ」。極端紫外線検査装置はファブでの稼働よりも、マスク工場での稼働の方が価値が高くて、購入台数もより多くなりそうだ。"

"インテル、TSMC、サムスンはともにレーザーテックの問題に閉口して、水面下で高次高調波発生（HHG）の代替光源を使って独自に開発した検査装置を使用している。"

"そのさらに下にクリーンルームがあるはずだが、レーザーテックのプレゼンテーション用の資料に掲載された写真のようなクリーンルームがあるとは、とても想像しがたい。"

"Red Lobster's frustrating results started to affect management's compensation."

"These assumptions are critical to determine the value of Darden's real estate."

"Absent these unexplained savings, segment margins declined from 16.9% to 9.1%."

"Fortrea Is a Large Scale CRO with a Global Presence Spanning Over 90 Countries"

"We began to notice a pattern of press releases that appear grossly misleading."

"Stryker revalued Entellus' inventory higher by 63% from $8.6 to $14.0 million."

"For a one-time cost of $12, you can convert your existing bike into a Peloton."

"These facts are extraordinary. They weigh heavily in favor of our conclusions."

"Were HMA's Board's actions in 2011 appropriate and in shareholders' interests?"

"Similarweb’s data also indicates more social traffic for Terminix vs. Rollins."

"Our ideas from last year have outperformed the market over the past 12 months."

"Vertiv sells into some of the most attractive areas of the data center market."

"Margins have been stuck at ~21% but should be higher given $1bn+ revenue scale"

"Our estimate of fair value is $0. We believe Lumen is fundamentally insolvent."

"~52% of E-commerce Sales Are Retargeting, Only ~25-35% Incremental (Not ~100%)"

"Zero value is currently attributed to SCT's well-managed operating businesses."

"Historical 650 bps+ operating margin gap to comparable Praxair could be closed"

"And, while Teck shares have done well this year, they have underperformed FCX."

"So, it’s hard to know how much of the copper rise is due to the copper future."

"In 2019, Autodesk committed to growing revenue at a 15-19% CAGR through FY2023"

"In 2019, Autodesk committed to reaching growth + profit of 55% - 65% by FY2023"

"After missing its prior margin targets, Autodesk tried to buy itself more time"

"Company is saying the right things but its actions do not support its rhetoric"

"Wall Street research analysts expect Pfizer's revenue to decline through 2030."

"Pfizer achieves consensus sales expectations less consistently than its peers."

"After adjusting for the scil and CVM contributions, Heska only grew 5% in 2020"

"This is a shitty place - I always have to swivel my chair back and forth here."

"The aforementioned actions demonstrate an unconscionable lack of transparency."

"Independent fashion, apparel, retail, marketing, and finance experts who have:"

"Under President Hasebe Kao has substantially underperformed the broader index."

"Fortrea Is a Large Scale CRO with a Global Presence Spanning Over 90 Countries"

"If it was, what was the ultimate source of the cash (if any) used to repay it?"

"It’s time for board changes at PSX so your investment can earn what it should."

"レーザーテックが目指した極端紫外線の事業展開には、そもそも無理があった。数十億ドル相当の投資を行わずに極端紫外線光源の開発を目指すのは、非現実的な夢物語だ。"

"「粗利益率を守りたいために、貸借対照表で在庫に対して引当金を設けず、減損処理を行わないこと。残念ながらこの分野ではよく見ることです。能動的な利益操作です。」"