Callouts & quotes from 10,384+ activist slides

"“And I think this is a really important note because it talks about how difficult or challenging it is for us because we're not a medical device. We're a service.” — iRhythm CFO Garrett at Morgan Stanley Conference, 9/10/19"

"The fact that the Company would refer to this deal as being done at 9x EBITDA demonstrates management and the Board’s fundamental lack of understanding of the assets they sold and a predilection for misleading shareholders."

"“With Gen9, if we were at 15 cents a base, they might come in at like 10. Before Twist came out, it wasn’t going below 10. They’ve always been driving towards 5 cents.” — Executive previously at Gen9, a key Twist competitor"

"And if we were a business today that we're separated from our TiO2, we would be going into 2016 saying...2016 will be a record EBITDA margin year in the history of this company. — Peter Huntsman, President & CEO, March 2016"

"The Secretary of our Company, Johnathan Lindsay, is the son of Alan Lindsay, a director of our Company; otherwise, there are no other family relationships among our directors or officers. — UEC Prospectus, November 23, 2005"

"In fiscal 2018, we entered into an agreement to convey certain net assets related to the Company’s third-party rental business... in fiscal 2018, we recorded a loss of $24.5 million in Special charges. — Hill-Rom: FY18 10-K"

"「最大の問題は光源です。TSMCの生産ラインにおいては、生産性に関しても経済性に関してもKLA製のほうがレーザーテック製よりも性能がいいでしょう。だから、TSMCにおける商売の約3分の2がすでにレーザーテックからKLAに移行している、と私は見ています。レーザーテックのTSMCにおけるシェアは減少しつづけている、と言わざるをえません」 — TSMCの元幹部で長年購買の責任者を務め、同社へレーザーテック製の検査装置の導入を担当した人物、現大学教員"

"“They tried to combine a souped-up car with an economy car with a mom-and-pop van with a soccer mom van, and ultimately, it's too complicated. It's not repeatable and usable. It's a master of nothing.” — Expert (Ex-manager)"

""We hold aircraft engine modules, spare parts and used material inventory..." — FTAI Aviation 10-Q Q2 2024; "We hold aircraft engines, engine modules, spare parts and used material inventory..." — FTAI Aviation 10-Q Q3 2024"

"BG beat on adj. EPS vs our estimates of $1.85 and Bloomberg consensus of $1.81, sees FY26 adj. EPS in a range of $7.50 to $8.00, which is ~$1 lower than our estimate and Bloomberg consensus. — Barclays Research: Feb 4, 2026"

"Among the ideas considered was SoftBank serving as an anchor investor in the IPO by buying a significant portion of the roughly $3 billion to $4 billion the company is expected to raise. — WSJ article on Softbank/WeWork IPO"

"10/29/24: On her first earnings call, newly appointed CFO, Anat Ashkenazi, emphasizes her commitment to "build on the company's [efficiency] efforts" and "evaluate where we might be able to accelerate work" — Anat Ashkenazi"

"Naja gut, ich glaube, wir sind kein Adtech-Unternehmen. Wir haben auch keine Adtech-DNA, und wir wollen es auch gar nicht werden. Aber ich glaube, wir haben eine Vermarktungs-, Vertriebs- und Monetarisierungs-DNA. — C. Sch."

"Airlines and airports are falling all over themselves trying to buy equipment for their airports because they want to get the competitive advantage of being the latest, the greatest, and the flashiest. — Former TSA Employee"

"ARPU defined: “Average Revenue Per User” or “ARPU” represents the total software and payments revenue of the Company in the period divided by the number of unique customers of the Company in the period. — Company Disclosure"

"During the year December 31, 2017, the Company made $133,726 of employer corrective contributions related to a filing with the IRS Voluntary Correction Program due to compensation errors since 2014. — IRS Form 5500 for 2017"

"We believe Campbell's acquisition of Snyder's-Lance adds execution risk across both organizations... Snyder's integration complexity and lofty cost target guidance leave us skeptical of material stock value creation. — UBS"

"Percent of BPH Treatment Volumes by Procedure From “What Part B Data Reveal About BPH Procedure Usage”, Dowling in Urology Times, Using Data From the CMS National Summary Data File of Medicare Part B Claims — Urology Times"

"We use modestly above-peer multiples of 12.5x and 7.6x for each of XPO's respective parts in recognition of organic growth opportunities in a diverse number of large markets bolstered by high-quality management — JP Morgan"

"Dr. Weimann: Ladies and gentlemen, my name is Dr. Martin Weimann. I am an attorney, come from Berlin and am speaking today on behalf of the VzfK, the Consumer Protection Agency for Investors in Berlin. — Dr. Martin Weimann"

"Indeed, it would have been wrong if we had done it. But we would not do that of course. I may remind you again that 80% or our assets are part of Ströer. It would be kind of insane to impair 80% of our assets. — Udo Müller"

"“The first step to recovery is admitting you have a problem. They’ve known this for 10 years but the number of products has increased, not decreased… It spreads your IT dollars like peanut butter.” — Former SVP, Technology"

""I mean we've got capacity up to -- we [ran] over a decade ago close to 200k 7-day carloadings for the entire year. And we're around -- we're less than 170k today. So we've got excess capacity." — September 2019 conference"

"“...freight railroads account for just 0.5% of total U.S. greenhouse gas emissions and just 1.9% of transportation-related greenhouse gas emission” — US Environmental Protection Agency and Association of American Railroads"

"The office of the Community Residents' Committee located nearby never heard of the company Yidatong and one member became borderline irate by the suggestion that Yidatong could be located at the same address as the school."

"For the year, our e-commerce sales increased 30.2% year-over-year and on a 52-week to 52-week basis and accounted for 16.1% of our sales compared with 17.4% in 2020 and 9.4% in 2019. — Floor & Decor Q4 2021 Earnings Report"

""That play is now gone for them. They are really limited what they can now buy in Canada. The multiple arbitrage isn't there anymore, since there's also more private equity money around." — Former Saputo Strategy Executive"

""Yes. Rodeo is a great asset. It's operating well at or above design rates. We're in the process of optimizing the cost structure there to get it as competitive as we can get it." — Phillips 66 CEO Mark Lashier, March 2025"

""Yes. Rodeo is a great asset. It's operating well at or above design rates. We're in the process of optimizing the cost structure there to get it as competitive as we can get it." — Phillips 66 CEO Mark Lashier, March 2025"

"We expect approximately $1.1 billion of upfront costs associated with the initiation of the plan to impact net income in the fourth quarter, which will be adjusted out of normalized FFO. — Tim McHugh, Q3 2025 Earnings Call"

"Stryker 10-Q Note 7 said, "The aggregate purchase price of our acquisitions, net of cash acquired was $31 and $23 in the three months 2021 and 2020" which does not match cash flow statement 3m figure of $27m — Stryker 10-Q"

"On 30 June 2013, after receiving notice from the Group a wholesale investor owing $34.80m failed to settle in full the purchases of 580 hectares of plantation located in the Burdekin Queensland. — TFS FY 2013 Annual Report"

"Prestige Brands "accepted the benefit of XPO's services ... without objection, protest or rejection," the complaint states, "yet failed to compensate XPO for the reasonable value of its services." — XPO Logistics Complaint"

""It can be devastating. It can cause a real problem. So, that would be my worry. Basically, if we have a baby, he's got high pulmonary pressures, they don't start diazoxide." — Trial investigator, pediatric endocrinologist"

"“I wasn't anticipating this particular piece of news...I wasn't expecting to see this — I don't think there was a perspective that this was likely to happen” — Endocrinologist; academic and community hospital affiliations."

""Lightspeed delivered revenue ahead of our previously established guidance and reached Software and Payments organic revenue growth of 47% year-over-year, accelerating from the 42% we saw last quarter." — Q3 2021 Conf Call"

"“one individual continued to gain weight while on drug...she probably got randomized to real drug...because she got hairy...so I was pretty sure she on real drug...” — Trial investigator, pediatrician/geneticist, professor"

"I’ve heard of a delay of shipment of systems to have Lasertec fix some things or engineering changes…they’re holding off near-term shipments until they resolve these quality issues. — Longtime executive at Global Foundries"

"“Other overhead costs include all other overhead and depreciation expenses such as IT expenses, limited warranty, travel, insurance, bad debt, title and registration and other administrative expenses.” — CVNA FY 2017 10-K"

"“When you consider the relationship between these types of apps and an analytics company, it makes a lot of sense — especially considering our history as a startup,” — Randy Nelson, Sensor Tower's head of mobile insights."

"Imagine 16 people with their own robots, and the robot is what’s handling the sample, and the person is just putting the plates on there and pressing buttons. — Ex-Twist employee in manufacturing, now a research professor"

"Investors have benefited from JANA’s actions as it sheds increasing light on the value of [Retail]. AGU shares have risen ~33% since mid-June, when JANA’s involvement in the stock became well known — Susquehanna, 10/23/12"

"“Agrium's Retail segment is under-earning” — Piper Jaffray, 12/2/12; “Agrium's management should engage with serious consideration many of the issues JANA and its proposed Directors bring up on costs” — Barclays, 12/13/12"

"It created a climate where it would incentivize agents to sell its parent company products (TransAmerica) by giving them a 25 increase in commissions, thus creating a conflict of intrest. — Anonymous Complaint (2/15/2024)"

"“When folks inside Gingko are showing us data—I think it's about 50/50 where experiments work or fail within the different workflows... There are still failures there when we're developing.” — Gingko Bioworks executive #2"

"“[M]any of the Distributors whom Defendants would expressly or impliedly characterize as solely ‘discount buyers’ are, in fact, pursuing the business opportunity.” — FTC v. Herbalife International of America, Inc., et al."

"You cannot do it. They have to do it. That's for sure. That's the reason I'm telling you, I believe that that letter is completely honest. It's a very honest letter. — Transplant surgeon in a leadership role at Vanderbilt"

"Norfolk Southern's April 2, 2024, statement to shareholders that "John [Orr] shaped and guided PSR initiatives at KCS" is a brazenly misleading interpretation of the facts. — Norfolk Southern press release (April 2, 2024)"

""Warrants" means that certain options to purchase a total aggregate of 18,100 Ordinary Shares of the company, issued to Dr. Shimon Eckhouse, Sara Brener and Michal Drayman on or about June 2005. — Share Purchase Agreement"

""Novartis said it cannot say much, but it does not expect any problems that would relate to Entresto [newly launching product], nor does it expect any significant impact on other businesses." — Bernstein, October 28, 2015"

"In a great, revealing interview with ADOMANI's CFO, Michael Menerey, by Seeking Alpha contributor The Street Sweeper published on August 29, 2017, Mr. Menerey confirmed that the company has not made any revenues for 2017."

"The IR Rep laughed that Lasertec has needed to rent space 'all over the map' to store tools before final tweaking and shipment. He says that Fab-4A has been useful in relieving that pressure. — Lasertec Investor Relations"

""In an interview, Pivotal spokesman Damien Tannenbaum said salespeople are sometimes overzealous in how they represent the product, but those cases are rare and dealt with swiftly." — Damien Tannenbaum, Pivotal spokesman"

"Mr. Ströer, did you, as per publicly accessible records such as those dated May 29, 2013, transfer 2.8 million shares in our company to the Sambara Foundation without receiving any payment in return? — Shareholder at AGM"

"During our third and fourth quarter of fiscal '25, we expect modest revenues as the business is currently focused on site acquisition for next year's construction program. — Dycom Industries, Inc. (Q2'25 Conference Call)"

"“The first year we had lots of wonderful one-qubit machines popping up all over the place,” he says. “Now at IBM we have a three-qubit computer, and we’re planning even larger computers.” — Chuang (MIT Technology Review)"

"“If you look at that point in time when after the crisis – look at the TSR, the TSR has gone up almost 90%. That’s the right point in time. And they [Elliott] know it, by the way.” — Dr. Klaus Kleinfeld, February 1, 2017"

"The top grossing [Tether Studios Skillz] games right now are Solitaire Cube, which is a Klondike solitaire game, and 21 Blitz. That one actually has been trailing off for the past year. — One former developer from Tether"

"“...PSX has presented shareholders with selective disclosure, unverifiable claims about various operational successes, and ambiguous and vague responses to otherwise basic questions.” — Institutional Shareholder Services"

""Some activists can be brutal and superficial," [Charles River CEO James] Foster said. "Barry was very driven and directed, but in a low-key, collaborative, thoughtful and well-reasoned way"; Wall Street Journal, 10/7/12"