Callouts & quotes from 26,677+ activist slides

"HMA’s total shareholder return has sharply and consistently lagged other publicly traded hospital companies"

"HMA's "comfort" has proven ill-advised as interest rates have moved higher since the CFO's May 3rd remarks."

"Spruce Point Estimates 30% - 40% ($21.75 - $25.40/sh) Downside Risk To Rollins Inc. (NYSE: ROL) Share Price"

"The Company's capex to depreciation ratio is well below 1x which indicates underinvestment in the business."

"We propose to acquire 100% of the outstanding shares of QEP for $8.75 per share in an all-cash transaction."

"The failure to have regard to this obviously material consideration vitiated the Planning Permission, which"

"Our collection detected only 435,888 agents, suggesting BEKE inflated its agent count by approximately 26%."

"10-K Peers include IBM, HPQ, and CA; listed as BMC's closet competitors in the Company's annual 10-K report"

"FY2002A ESM revenues include Other Software revenues. ESM and MSM revenues exclude Other revenues of $7.9mm"

"normalized Business segment revenue (excluding Other) fell -8.6% y/y in 2Q24, the worst in company history."

"which begs the question as to why they would put the figure in a press release other than to pump the stock"

"SCT sits at the top of the current group structure, but it is not a formal holding company under Korean law"

"Getting the right product in the store is a critical factor in driving higher sales and better gross margin"

"The findings of the FTC substantially agree with our assertion that Herbalife operates as a pyramid scheme:"

"We believe the new administration will work with Congress to successfully reform Fannie and Freddie (cont.)"

"Spruce Point's fair value price target for PGNY's stock is $7 to $14 per share, or 60% to 80% downside risk"

"We do not believe this team is qualified to run Xerox, let alone some larger combination of Xerox and Fuji."

"We think the creation of a bifurcated technology hub outside China is vital to win other regional business."

"Weis horrible performance was matched only by Supervalu, which faced a proxy battle by frustrated investors"

"Bunge says absolutely nothing about GLP-1 and weight loss trends in its SEC filings or on conference calls."

"Bunge is now more exposed than ever to Argentina and Brazil which now account for 23% of long-lived assets."

"We believe Bunge has struggled in China and does not give a fully transparent view as to what is happening."

"Bunge insiders have increasingly little equity at risk as management levered itself to Viterra's struggles."

"Post separation, Target Corp and TIP REIT will continue to be closely aligned, but on an arm's-length basis"

"Spruce Point has a track record of calls of companies in and around the home and facility services markets."

"Autodesk told shareholders one thing and did the opposite – this is not how public companies should operate"

"Over the next few years, we believe Autodesk can meaningfully shrink its share count and grow FCF per share"

"Something doesn't seem correct here: Cintas produced a 35x cash return on investment and won't explain how."

"LHCG's reported organic home health growth could collapse once AFAM is finally included in the organic base"

"LHCG’s reported organic home health growth could collapse once AFAM is finally included in the organic base"

"At the analyst day in December, the bullish highlight was that bookings growth would return to 30% in 2015."

"Pfizer management committed to “constant flow” of innovation – as highlighted by 15 potential blockbusters."

"Pfizer management committed to “constant flow” of innovation – as highlighted by 15 potential blockbusters."

"Pfizer management committed to “constant flow” of innovation – as highlighted by 15 potential blockbusters."

"Trial stimulator is externally secured and the procedure is not as invasive as a permanent surgical implant"

"競合他社が成功しているのは、商品が花王より優れているからではありません。顧客のニーズと欲求をより良く理解したうえで、自社商品を通じてそれらのニーズや欲求に応えるものを利用者に提案し販売しているからにほかなりません。"

"The period expanded from 45 to 51 days in mid-2024 and now management no longer discloses the exact period."

"Oasis recommends shareholders to support the elections of additive board profiles and compensation reforms."

"When looked at over the whole term of current management, the company has underperformed the Nikkei by 60%."

"However, in breach of Kao’s own process, only two members of the Committee interviewed the Oasis directors."

"Distributing a total of 5 iPrefs per common share would be the equivalent of almost "doubling the dividend""

"Wendy’s stock price is down 16% since January 1, 2007 while comparable Quick Service Restaurants are up 38%"

"Think of Covestro as the ex-boyfriend in need of a new mate – one more compatible with its cyclical nature."

"If a Disney shareholder bought stock on 93% of those days, their shares would be worth less than they paid."

"Disney has underperformed almost all its peers despite having best-in-class parks and entertainment assets."

"We believed there was significant opportunity to improve these companies on a growth + profitability basis."

"We have made several illustrative modeling assumptions to estimate the long-term earnings power of the GSEs"

"We believe Zillow’s shares trade at an unwarranted premium to many fundamentally sound internet businesses."

"Using market multiples for the rest of Phillips' assets implies its Refining system is valued at $1bn today"

"PSCM intends to launch new investment funds which could substantially reduce PSH performance fees over time"

"We Believe Investors Are Overlooking Intensifying Competitive Pressure From Private Equity-Backed Platforms"

"We believe the Street is overly bullish on Limbach, highlighted by its unanimous Buy rating on the Company."

"Casino's management shows strong indications of deception toward investors on numerous key business issues."

"MGH soured on the relationship, bypassing protocols to run up the cost to $200K; "utilization at all costs""

"Most DCD's have excessive warm ischemic time; organs deteriorate rapidly after 30 minutes and unrecoverable"

"It’s a ticking time bomb. It’s a ticking time bomb. They’re cutting corners. Wait until somebody finds out."

"His LinkedIn Bio shows only two years of total surgical experience – in India – before joining TransMedics."

"The crux of our short thesis has been that Vivion’s property valuations (and financials) are untrustworthy."

"Mr. Shaw's TOP|SPG strategy has resulted in a deteriorating operating ratio since being introduced in 2022."

"Norfolk Southern has missed consensus EBIT targets in six out of eight quarters since Alan Shaw became CEO."