Callouts & quotes from 26,677+ activist slides

"We would review the Company’s investment strategy given the large focus in its lower return business."

"FMCN has been fraudulently overstating the number of screens in its LCD network by approximately 50%."

"Berry and Amcor have significant cost synergies, the biggest driver of which are procurement savings."

"We Are Concerned With The Current State of Disney’s Studios & Creative Processes Across The Portfolio"

"The Company provided shareholders with a roadmap for improving share price to ~$60 per share by 2020."

"The Company repeatedly told shareholders that its core business would produce record margins in 2016."

"The convertible, unlike a cash payment, now potentially puts shareholders at risk of future dilution."

"While Peanut Butter has not reached scale, its products are already in millions of electric vehicles."

"What price do you pay for 20% top line growth that should mature into high single digit EBIT margins?"

"Senior Distributors Encourage Other Distributors to “Team Build” if they Want a Growing Income Stream"

"As Herbalife Enters New Regions, ‘Drops’ In Mature Markets are Masked By the ‘Pops’ of New Markets..."

"There are numerous ways in which the Merlin@home devices violate security standards (and defy logic):"

"The stock is currently trading above consensus targets which we believe make it a poor risk / reward."

"This is the real issue with Casino - it has far more debt to enterprise value than investors realize."

"To stabilize the west wall and rebuild a new access ramp would require a large push at great expense."

"極端紫外線マスク検査装置の開口数を0.55に変えるためには、光源、光学系、その他の部品を抜本的に改造しなければいけない。しかし、レーザーテックにその改造を行う能力があるはずはなく、現に行った気配はない。"

"レーザーテックの高開口の発表は、急速に進化していく次世代の極端紫外線リソグラフィに置いて行かれないように、自社ではその関連の技術が完成していないにもかかわらず、早急に用意した見せかけの製品だったようだ。"

"Darden's cherry-picked time period and cherry-picked peer group is the only glimpse of outperformance"

"IQ inflated the purchase price for at least one program it licensed from Wuhan DDMC (“DDMC”) in 2018."

"Unfortunately, management is still attempting to obscure the fact that the total market is declining."

"CEO’s Potential $3.04 Billion Payout Dwarfs Career Earnings of Most Accomplished CEOs in REIT History"

"We believe BR has generally gotten more aggressive in promoting its Total Addressable Market ("TAM")."

"The Day Yahoo Bought Tumblr Was Virtually The Day Tumblr Started To Plummet In the App Store Rankings"

"Shockingly, it has a $25B market cap as an EUV story but lacks an EUV technology that actually works."

"It does not seem logical or realistic that Olam is forced to pass on its incentives to its suppliers."

"Level 3 derivatives create the net asset and are most likely overstated due to management discretion."

"our Consultant¹ said the intermediary was “acting as a placeholder” until a real buyer was interested"

"In 2024, the two aircraft sold with two CFM56-5B engines each were still on-lease to Global Crossing."

"A spate of recent high-level departures brings to mind the idiom about "rats fleeing a sinking ship.""

"DLO's outlier Take Rates are dependent on outsized revenue from foreign exchange ("FX") transactions."

"This was $43.4 million more than the market value at December 8, 2020 (the date of de-consolidation)."

"Furthermore, lowering Company's cost of capital by increasing leverage creates immediate equity value"

"We believe Platinum took advantage of the emerging SPAC market to begin to exit their position early."

"CXW is composed of two businesses: an operating company ("OpCo") and a real estate company ("PropCo")"

"We view these statements as disingenuous because customers are not obligated to renew their policies."

"Most importantly it shows where APP intercepts other 3P platforms data and engages in fingerprinting."

"If JCP becomes a collection of specialty stores, why can't its sales approach specialty store levels?"

"We believe that the approximate one-third decline on the day of the ruling was a market overreaction."

"Teck is more of a diversified miner. Its three main products are Metallurgical Coal, Zinc and Copper."

"Oddly enough, the only purchase ever made by Chairman/CEO Weis was in Nov 2017 ahead of the revision."

"By our estimates, the benefit could have been upwards of $0.44 per share in the most aggressive case."

"Tax-free spin of Target Inflation Protected REIT (or “TIP REIT”) as Groundlessor and Facility Manager"

"Based on the assumptions provided, the Transaction would result in $1.4bn EBITDA in 2009E to TIP REIT"

"We believe Autodesk can achieve 45%+ Adj. Operating Margins and $3.4 billion of Adj. EBITDA by FY2027"

"Even though RazorInsights has 25 customers, athena left its revenue guidance substantially unchanged."

"One former MPLN executive explained to us the apparent secret of MPLN's 76.3% Adjusted EBITDA margin."

"Wilson's new $1 million base salary will pay him on par with CEOs who manage companies 10-30x larger."

"18, Over-utilization, unnecessary implants, and patient exploitation are key drivers of Nevro's sales"

"18, Over-utilization, unnecessary implants, and patient exploitation are key drivers of Nevro’s sales"

"NewMed brings increased scale to the combined group but production growth is long-dated and uncertain"

"We Are Concerned With The Current State of Disney’s Studios & Creative Processes Across The Portfolio"

"The portfolios are poison. They aren’t really needed to carry out the function of Freddie and Fannie."

"THIS BUSINESS WOULD LIKELY ATTRACT SIGNIFICANT INTEREST FROM THE EXISTING JV PARTNER OR ANOTHER BUYER"

"VOTE THE GOLD CARD TODAY YOUR LAST DAY TO VOTE IS MAY 21ST. TRANSFORM PHILLIPS 66, UNLOCK 75%+ UPSIDE"

"Limbach previously reported a "promised backlog" figure but has not disclosed the figure since Q3'20."

"Spruce Point is concerned that USCR's audit committee lacks depth in the finance and accounting area."

"The CEO vehemently denied this in his reply to Gosar’s letter, but his statements appear to be false."

"The continued trend of manufacturing earnings leads to the vicious cycle of missing/lowering guidance"

"We have identified and confirmed availability of professionals who will immediately step in to begin:"

"The appeal of neutrality is overstated – especially as AI workloads shift from training to inference."