Callouts & quotes from 10,384+ activist slides

""Health Care is 3M’s most attractive business. Long-run organic growth, operating profit, capital intensity, and cyclicality are all better than the RemainCo." — Bernstein (September 2022); "Of 3M’s legacy portfolio, Health Care represented the largest and historically most profitable business within 3M given its highly defendable market positions" — William Blair (July 2022); "The planned Health Care spin-off, expected late 2023/early 2024, should unlock value... The Health Care spin-off will not have the litigation overhang currently facing 3M." — Bank of America (July 2023); "The Health Care spin may create value in the long run by ensuring that a decent chunk of MMM’s earnings are not subject to the liability question marks." — Barclays (July 2022)"

"“everyone uses phosphoramidite chemistry”; “the basis of everyone’s DNA synthesis technology.”; “as they were in the ’90’s”; “at the same point that all the vendors are at”; “gene synthesis process is the same as it is everywhere else”; “nothing special.”; “the error rate is really, really high and that makes [the oligos] not useful”; “very long and arduous next generation sequencing”; “expensive,” “slow,” and “requires a lot of high-level PhD’s.”; “their problem is still error rates...and that’s why they’re losing money”; “a situation where you need to make multiples of everything just to be able to deliver.”; “you sequence five and two of them are right...if it’s a complicated sequence you sequence 15 and maybe none of them are right.” — Ex-employees"

"Finally, in late June 1993, Clearly Canadian's CFO, defendant Horton, allegedly assured analysts that sales for the quarter ending in June would be in line with expectations of five-and-a-half to six million cases, when in fact, as of the end of May, Horton allegedly knew quarterly sales had been just over 3 million cases. Plaintiffs argue Horton had no reasonable basis for assuming the company would meet his prediction. SAC ¶ 96. When Clearly Canadian finally announced its earnings for the quarter ending in June, they turned out to be lower than some analysts had predicted. Following this announcement on July 19, the last day of the purported class period, Clearly Canadian's stock dropped to $6 per share. — In Re Clearly Canadian Securities Litigation"

""So Premier Agent revenue is our core media business where we monetize this 2 billion visits a month we get on our apps and sites. And it's mainly buyer monetization that we do, and we basically sell leads to estate agents. We have monetized that historically by collecting credit cards from agents upfront, getting them to buy on a subscription basis and then sending them leads." — CEO Rich Barton, 11/20/2019; "So Premier Agent overall, which is our revenue workforce, has always been focused on the buyer side of the transaction, the buyer leads that we're sending to real estate agents." — Fmr. CFO Kathleen Phillips, 2/16/2017; "Historically, the Premier Agent product has -- been mostly about acquiring buyer leads." — Fmr. CEO Spencer Rascoff, 11/01/2016"

"“I want to say there were upwards of 100 OCS Specialists across the country. We all had company phones, so we would keep in touch using company or personal phones.” ... “I would say that they probably have the same questions. We just don't know, and it just doesn't make any sense, and we've just not been told...I could see on our app planes being assigned to what, but not understanding why. It was an internal app for case assignment. I could see the whole country, anyone who's on call or not on call; you could go into the app and see who's being assigned for what...I could see exactly what specialist is being assigned to a particular case. If it's not a local person that's being assigned to a local case, it makes me wonder why.” — Former OCS Specialist"

"“I’ll be very candid with you, if I was the product lead on the hook for these kinds of [80%] margins, I would be very, very scared...this is just not a believable scenario even with the scale of a hyperscaler...this is definitely a very sort of utopian best-case scenario.” — Former Engineer at CoreWeave; “The illustration appears to indicate the revenue from the residual assets in year 5 and beyond will represent 75% of the revenue in years 1-4 of the original contract. We will reserve our language to simply indicate that is highly unlikely.” — D.A. Davidson Research, June 9, 205; “Wishful thinking. That’s how old data centers worked before AI chips.” — Former Principal Architect at Nvidia; “Totally bullshit.” — Former Senior Product Manager at Nebius"

"6 years ago I funded only 1 club. I invested 60,000 RMB to open a club in Guangzhou. Since then 50 clubs have opened under me. None of these clubs were funded by me. But because I contributed to these 50 clubs, everything about these 50 clubs is connected to me. Herbalife pays me a consultancy fee. . . . I have realized financial freedom and time-freedom. Frankly speaking, I can stop working now. But the clubs that have opened under me will not stop. They will still open their doors tomorrow, my income will not stop. With our constant hard work, even if I don't work hard, these clubs will develop new clubs, so we have 500, 5,000, 50,000 clubs. Some of you might think we are doing pyramid sales. Probably you would feel this way. — Mr. Quiran Chen, Hefei"

"BlackRock’s clients depend on us to help them meet their long-term investment goals. Given that the business decisions that companies make have a direct impact on our clients’ long-term investment outcomes and financial well-being, we consider it one of our responsibilities to promote sound corporate governance as an informed, engaged shareholder on their behalf. At BlackRock, this is the responsibility of the BlackRock Investment Stewardship (BIS) team, which serves as a link between BlackRock’s clients and the companies we invest in on their behalf. In BIS’ experience, sound governance is critical to the success of a company, the protection of investors’ interests, and long-term financial value creation — BlackRock Investment Stewardship (BIS) team."

"“Mark Ghobrial has definitely grown his program, more than doubled its size. The guy in Mayo Clinic at Scottsdale has more than doubled theirs. Part of it is that they’re willing to take organs that others haven’t been willing to - older donors, all that stuff.” — One of the top liver transplant surgeons in the world, based at a leading Midwest academic center; “So, a place well-known for using TransMedics nationally is Mayo Scottsdale. Scottsdale went from being a medium-sized program to two years ago being the largest transplant program by volume in the country. I believe that was mostly through the expanded use of organs, specifically OCS, is my understanding.” — Transplant hepatologist and director of the liver program at a Midwest academic center"

"“Basically, every ion is talking to every other ion, so if one ion is doing something that it's not quite supposed to be doing, that induces basically an error in every other ion. And there are theoretical ways that potentially you can get around that, but no one has really demonstrated that that theory has been actualized in any meaningful way, so it's a real hurdle to imagine scaling these things up right now.” — Former IonQ employee, physicist; “The difficulty of going to 100 or 500 or thousands of qubits, it doesn't scale linearly. It's not just twice as hard to do 1000 qubits compared to 500. I can tell you my experience going from 5 to 11 and from 5 to 11, took about three years of work.” — Former IonQ employee, senior member of technical staff"

"“From there, you have to account for the fact that during the synthesis process, random errors are introduced, and most customers want sequence-perfect clones. So, there’s a whole process whereby you pick out the good clones and discard the bad clones.” — Former Twist manager in a manufacturing role, previously and currently employed by key competitors; “On average, something like 15% to 20% of the genes had to have that done, not single genes. Depending on what people are working with, you can have much higher failure rates on single orders. Some go through just fine because they’re short and simple, and they have some that fail at a pretty high rate because the sequence is hard.” — Ex-employee in senior product management and sales leadership roles"

""Our business historically has been built on increasing our recurring revenue. Almost 80% of the revenue we recognize each month is for scheduled services that are on the books as of the first of the month. I'd like to think of this as the gift that keeps on giving. In a sense, we're much like the phone company or cable TV business." — CEO Rollins Q1 2014; "Yes, one thing I might add, we also implemented a new pay plan for our commercial sales, people that much more greatly incentivize them to pursue recurring revenue. We kind of got hooked on that bed bug revenue for a period of time. And while that's great to get, it's not recurring and as you guys know, we really prefer that recurring revenue to build." — Fmr COO / Vice-Chairman Wilson On Bed Bugs"

"“There was some unspoken pressure that if a doctor was a speaker and they weren’t filling prescriptions, they would be taken off the program. That was not communicated between the doctors and the company, but, in my case, I did have a doctor that was underwhelming as far as writing prescriptions; very excited to jump on board and do a speaker’s program but just would not write prescriptions for his patients. So, he was actually asked to be taken off the list. It was never because you’re not writing prescriptions. We never said that; we never brought that to their attention, but it was always felt that that was the reason why the doctor was taken off the speaker’s program.” — Ex-Harmony territory manager for a large region in Florida and another state"

"“I would say that's almost certainly the case. It certainly was the case when I worked there. We built 300 cells a day, and a few of them were okay to test.” — Former employee; “The chances of this getting broken are probably astronomically high. For sure it was high in what I saw. The separator itself would break for manual labor reasons.” — Former employee; “I believe them for a sample or two or maybe three or maybe four or maybe 10, but I don't believe that they can do that pretty consistently. It's not a robust process at the moment. So, even with a non-robust process, you will probably get some good cells. I don't doubt that part. It's just, can you do it robustly? And from the people that I still talk to, they can't.” — Another former employee"

""Gross profit increased by $62.7 million, or 94.1%, to $129.2 million for the year ended December 31, 2020 from $66.6 million. Gross margin decreased by 1.9%, to 30.7% for the year ended December 31, 2020 from 32.6% for the year ended December 31, 2019, which is due to a number of factors, including a change in channel mix from foodservice to retail, our greater reliance on co-packer outsourcing production compared to 2019 as well as an increase in logistics costs. The COVID-19 pandemic and changing consumption patterns increased demand for logistics services, resulting in higher freight rates during the second half of 2020 across our segments. We also experienced higher container rates for our shipments from EMEA to Asia during 2020." — Prospectus"

""And then thinking about Spine, we expect to continue to post growth in that space. And we think some of the enabling technology investments we’ve made will continue to pay dividends and on top of, obviously, the K2M acquisition, which has opened up more of the portfolio for new product developments, we do think that we have good confidence in our performance in the quarters to come and well into '22 and beyond." — Spencer Stiles, Group President Ortho and Spine, BofA Conf, May 11, 2021; "So in terms of underlying growth, I mean, we don’t break out guidance in terms of as we think about spine. But we do expect that market and that business to continue to accelerate as the recovery happens in the back half of the year" — CEO Lobo, Q2 2021 Conf Call."

"“There’s no real business there”; “They don’t have those products” “I think the big hiccup or red flag right now is you could say, where are those products? For a company that’s been around for 13 years, it seems to me, if I was going public, I’d have this long list of amazing products—they don’t all have to be billion-dollar products, but something that looks tangible that says, we have succeeded and provided value to our partners and provided a good return on investment. And they don’t have that story. They don’t have those products. And so, do you believe that they are going to build those products and are going to have some success? Or do you believe that it’s just a smokescreen? There’s no real business there.” — Former director-level employee"

"There's tremendous potential for abuse in the role the rep plays with the patient. I have refused to work with reps who have acted unethically and that I knew were full of crap. There's no question that they influence the patient during the trial. There's no question about it, that there's the ability to influence. It just depends on your judgment. It's more common with younger implanters and people who work in private practice, who are trying to get a business out there. The reps are saying I'll do this for you, I'll do that for you, I'll introduce you to doctors. It's natural. No question, I've seen over the years reps that are just very sleazy. I have told companies straight out: I will not work with these people. — KOL and high volume implanter"

""Then just the last question -- the Dealer margin is obviously doing terrific now that you've lapped the Kerridge. Can you give us a sense, as you look out over the next few years, what's sort of the margin potential of this business? Does it remain substantially above the levels you've been reporting in the last couple of quarters?" — Gary Bisbee, Lehman Brothers; "Yes. Again, the business model there is no different than Employer Services. Again, sans acquisitions or significant investments, we would expect the core Dealer business to improve its margins 0.5 point a year as a way to think about it. So there are clearly 2 or 3 more points of margin improvement available in the Dealer market over a planning horizon." — Gary Butler, ADP, Former CEO"

"“No, that's their income. So then you're looking at now our retail sales, because the single biggest opportunity for those supervisors is their 50% off list discount. That's the biggest component of their income. They get a small piece on their royalties, because they really haven't started building a sales organization yet to get rewards down below. Whereas someone up in the very top, they're $2+ million, they're probably working on very little retail margin, because they're not really retailers.” — Rich Goudis, CFO; “They're recruiters.” — Michael Johnson, CEO, Chairman; “They're building their sales organization, so more of their compensation or income is based on the commission structuring in their multiple level marketing.” — Rich Goudis, CFO"

"So we're really getting much more effective in our utilization of our manufacturing facilities. The other aspect is inventory management. And again, Glenn touched upon it, If you look at the several years up to maybe 2018, 2019, you can see that our inventory was on the upswing in terms of the -- not just the value, but also days of inventory. Over the last 3 years or so, we have really looked at each of our product lines end to end and really put in place a variety of inventory optimization plans and strategies. And you'll see that our days of inventory have actually not just flattened, but its come down nicely, and we see further progress in the horizon as we continue to proliferate these methods. — CEO Kevin Lobo, 2021 Analyst Call, Nov 18 2021"

"“They’re very coy about [the mix of classical and quantum] because when we actually ran this, what we mapped to a true QUBO problem, so you could run it entirely quantum on their system using the fully quantum annealer, it worked, but the noise was just horrendous. The error bars were always all over the place and it would never really converge well. When we used their hybrid solver, all of those problems went away. What I could never get an answer from them though, and we asked this was, ‘what exactly is that hybrid solver?’ I asked as much as, ‘How do I know it’s not just a GPU sitting in a big fancy box with D-Wave written on the side?’ And they never gave us a suitable answer.” — Former senior executive in Scientific Computing, GlaxoSmithKline"

"“We’re in the very lucky situation that in our seven target market we have everywhere opportunity to grow…from concrete to roofing to waterproofing, great opportunities.” — Sika (May 2018); “So we have a market growth rate that is a little – still growing but a little softer than this year. So if we see a stronger construction market, that clearly would be a positive.” — GCP (November 2018); “SBM's revenue was down 11% year-over-year. Our project-based Building Envelope business was down 12% as growth in EMEA was more than offset by declines in North America and Asia Pacific.” — GCP (November 2019); “The reduction of the Building Envelope business contributed significantly to the margin reduction as well as the overall mix.” — GCP (February 2020)"

""Included in transaction revenues was the impact of a newly negotiated contract with our payments partner at Upserve and ShopKeep. This new contract did two things, provide us with better economics than the businesses who are achieving on their own and also brought us better control over the end customer relationships. As a result of this, we were able to realize an uplift in revenue of approximately $7 million in the quarter and greater gross margins as well. This is a great new story that reflective of how our scale has improved our negotiating power. But it's worthwhile noting that even without this, our revenue performance for the quarter handily beat our previous guidance of $68 million to $70 million." — CFO Nussey, Q4 and FY 2021 Conf Call"

""We want a Hall of Fame guy. I think the specs are pretty obvious...you want someone who's an absolute proven leader, somebody who's run a major business, somebody who in the past has not only demonstrated their ability to control thoughts and innovate, but someone that can build revenue. You'd like to find somebody that has both retail, and what I'll call, BSD experience. And our expectations are...we're going to find a superior CEO to come in and take the company to the next level." — Neil Austrian. "We find the hire to be very surprising and we believe the market will as well. In recent meetings with Mr. Austrian, we came away believing he was not interested and not a candidate for the full time position." — Deutsche Bank report, May 23, 2011"

""They have a fairly significant credit card portfolio, which – if I’m right about the credit in the Canadian banks – eventually those problems will show up in Canadian Tire’s credit card business." – Steve Eisman. "As you know, Canadian Tire is a very significant retailer in Canada and I think the last two quarters they’ve had some real margin pressure... I think the reason for the margin pressure is they’re feeling the heat from Amazon." – Steve Eisman. "It would seem to me with all the uncertainty out there, both in Canada and the world, this would be the last time in the world you should grow your commercial loan books double digits, but that’s what the banks are doing." – Steve Eisman. "I find it puzzling and unexplainable." – Steve Eisman."

"In accordance with our accounting practices, we review the estimated useful lives of our property and equipment on an ongoing basis. In the third quarter of fiscal 2025, management determined that the estimated useful lives of our test and infrastructure equipment and assets supporting our Evergreen//One offerings should be revised from 4 years to a range of 5 to 7 years. The change in estimated useful lives was recognized on a prospective basis effective at the beginning of the third quarter of fiscal 2025. The effect of this change in estimate resulted in an aggregate reduction to depreciation expense and corresponding increase in net income of $20.1 million, or $0.06 per basic and diluted share, during fiscal 2025. — Pure Storage FY2025 10-K"

"“It’s all standard manufacturing technology. The only thing that changes is that right now, it’s becoming more important and chemically modified oligos, especially when you talk about mRNA, not DNA, mRNA. For many years, we used mRNA in therapy, but it failed because the stability on the mRNA degraded. And now, for a couple of years, we’ve discovered that actually, if you modify the mRNA with chemical modification during the production, that’s more stable, and that also helps the stability and prevents the degradation of the mRNA. For example, Twist is still not into this field, but other companies like Thermo and Sigma, they already provide a lot of chemically-modified oligos.” — Novartis, a large Twist customer, scientist in a leadership role"

""The most investment we did was tag or connect all those assets into our intelligent hub. That's the secret sauce." — CEO Needham Conf, May 17, 2023; "Growth #5 and the one that I think is making the most impact on our business is our iHUB." — Q1 2023, May 3, 2022; "From our perspective, our iHub sits in the center of the supply and the demand side of the market. This is an innovative model that no one else in the industry has." — Q2 2022, Aug 3, 2022; "In its first year, iHub contributes 40% of our year-over-year EBITDA growth..." — Q3 2022, Nov 9, 2022; "We are very proud. We are very proud of our iHub, the intelligent hub. It's AI-driven technology that 2022 is going to be the first year, which is fully in operation." — Q4 2021, Feb 9, 2022."

"As I mentioned, I was not physically there. But I was talking daily about the due diligence process. And I remember that everybody was kind of astonished by the way the due diligence was accomplished, the time frame, because it is very short compared to the amount of documents. And also, my view – the reason why I’m saying probably didn’t ask the right questions because it pretty – my view was pretty superficial. Basically, once they had some information, the first level information, they (unintelligible) and from a product perspective, in my view, they didn’t really look detail, in detail what was needing, what was the view of the future of the production, that was actually the integration of the solar and wind parts. — ASI Source A transcript"

"On January 9, 2026, in response to a proposed offer price of ¥18,600, it was deemed that the price “still significantly deviates from the price level envisioned by the Company’s board of directors and the Special Committee, and must be largely increased also from the perspective of securing minority shareholders...in light of the fact that there is an increasing trend in the share prices of TMC and the Three Toyota Group Companies owned by the Company, the Tender Offer Price must be proposed factoring in the risk of price fluctuations up to the scheduled announcement date of commencement of the Tender Offer...” — Appendix 7 (The Process of Negotiations Before the Report) to the Toyota Industries Special Committee report dated January 14, 2026."

"“...as I mentioned in the last quarter, we're predicting now that our gross margin going forward, we're sort of at the trough now of gross margin. So as you've seen over the last several years, we've had, primarily because of mix, the strong growth of Eliquis, we've had margin degradation, but we feel that we're now bottoming out on that gross margin.” — Charles Bancroft, CFO, Q2 2018 Earnings Call, July 26, 2018; “And if you look back last year and again this year, we've continued to up-invest in R&D, while we have reductions in MS&A. So, we've continued to leverage our operating margin and we continue to see operating margin favorability going forward.” — Charles Bancroft, CFO, UBS Global Healthcare and Life Sciences Conference, May 22, 2018"

"In Q1 2019, we expect gross margins to be in the range of 61% to 63% and build higher over the rest of the year — Axon Q1'19E Gross Margin Guidance. Gross margin of 59.5% represents 260 basis points of sequential improvement, driven by strength in software and sensors, partially offset by TASER 7 program startup costs, including customer trade-in credits — Axon Q1'19 Press Release. In Q1 TASER segment gross margins were pressured by two main factors ASP, average selling price and scrap rates both will improve over time and we're improving even as we speak. — Axon Q1'19 Conf Call. Additionally, margins were compressed related to the rollout of our newest TASER device and increased data storage and tariff and customs expenses. — Axon Q1'19 10-Q."

""Finally, our emerging pipeline across all therapeutic areas is one of the most promising in our history... The significant opportunities ahead of us requires us to ensure the right level of investment behind R&D and certain commercial capabilities, and we are doing just that." — Giovanni Caforio, Chairman & CEO, February 2018; "I'm also excited by the progress with our diversified pipeline and the work we are doing in cardiovascular disease, immunoscience and fibrosis... we are executing very well, and I believe we are focused on the right strategic opportunities for the future. We're investing commercially and in our pipeline to drive growth, and I feel very good about the progress we're making." — Giovanni Caforio, Chairman & CEO, July 2018"

""Harvey Golub is everything that you would want in a director. And one of the things that I appreciate most about him is that he has always respected the space between the Non-Executive Chairman and the CEO roles. He challenged me. He held me accountable. But he did not try to do my job for me… And he has challenged us to sharpen our strategy, and better execute that strategy by holding us to high performance standards. He often tells us, ‘This is what you said you would do. Are you delivering and, if not, why not?’" — Douglas Conant, former CEO of Campbell Soup Co, September 2009; "Harvey Golub has done an absolutely sensational job, and we're probably $4 billion better because of it." — Warren Buffet, 1999 Berkshire Hathaway Annual Meeting"

""Turning to ozanimod. We are highly encouraged by the results we've seen to date in both SUNBEAM and RADIANCE pivotal trials for RMS. We remain focused on preparing for a world-class launch in the RMS market...and we remain on track for launch readiness by Q4 this year." — Terrie Curran, President – Inflammation & Immunology, January 2018. "I think that 99% of folks at Celgene wouldn’t have submitted, but we had Receptos out on the West Coast and, for whatever reason, the decision was made to submit. We learned a lesson of humility and that when you do an acquisition it’s better to be more integrated rather than be completely away from the mothership." — Nadim Ahmed, President – Hematology & Oncology, June 2018 – Speaking to Financial Times."

"Clarify is bringing to the table a customer base that is very wide and very important. . . From the employees' point of view, they bring a lot of excellence and experience in the overall customer relationship and management. Now talking about the functionality [Clarify is] very strong in the area of sales force automation, for example, for [sic] navigate the calls to the right module. . . — CEO Avi Naor (quoted in Bloomberg, Oct 2, 2001). The acquisition strengthens Amdocs' ability to effectively address all segments of the IP market. With blue-chip customers like the IP units at AT&T Canada, BT, GTE, SNET and Swiss Online... Select is the vendor of choice for IP leaders and emerging new entrants. — CEO Avi Naor (Feb 29, 2000 press release)."

""Casino has become aware, through a press agency wire, of a report issued by Muddy Waters Capital on December 16, 2015, with the obvious intent to harm Casino, its employees and its shareholders. This accusatory report contains grossly erroneous allegations that the Group will answer in detail." — Casino Group; "Muddy Waters Capital’s report contains a number of false and misleading allegations, intended to negatively impact the trading prices of Casino’s stock and debt, for the benefit of the report’s author who, in his own words, should be assumed to have “a short position in all stocks (...) and bonds covered [in the report], and therefore stands to realize significant gains in the event that the price of either declines.”" — Casino Group"

""the tools were his main area of management at Intel" — Lasertec engineer; "he basically wasn't allowed in certain meetings anymore" — Lasertec engineer; "he wanted utilization closer to 85-90%, and being around 60-65% was not cutting it for him...he just tried to press, press, press to make it happen but there was only so much that could be done." — Lasertec engineer; "Marvell has also received that award...[it] is really sitting inside a cubicle that nobody uses...it's not something that we write home about...yeah we'll do a press release...but nobody talks about it"; "Intel is not a cutting-edge company in this day and age by any means...so if Intel is giving out awards...it's not even worth its weight in salt." — Senior Marvell employee"

"I’m personally worried about the reliability issues Astra will face...every single component on Astra’s rocket is cheap. And they are rigorous about testing and they test really hard, and they do everything they can, but still, they don’t have the redundancies that other rocket companies have...I’m not sure customers will be happy with losing half of their payloads...Kemp insists that because it’s a cheap rocket, the customers will have cheap payloads...so the companies will be ok to make two, and launch one / lose one, because it’s a lot cheaper than any other access to space...honestly, not sure how the market will take it when rockets keep failing and I believe they will. — Industry professional with knowledge of Astra rocket development"

""The rep is kind of an extension of your practice. I've seen some really egregious things where the feedback is really negative about what the rep did in terms of steering a patient that was unsure and pushing them towards implant... That's the kind of nonsense that can go on." — Nevro consultant and KOL; "What I noted psychologically is that the rep would often be present at the patient's follow-up and when I would talk to patients with the rep, they'd say they were having some issues... patients were embarrassed to say anything in front of the rep so there was this co-opting of the patient that I think, had they not been there, we would probably have found out sooner than later [that the device wasn't working]." — Nevro consultant and KOL"

""The Aetna's, United Health's of the world have put up more roadblocks. They make docs call, justify it, deny it. The denials have gone up. Also the delays. I have a couple of doctors who took four months to get patients through a stim trial. The insurers kept delaying it for extra info. Reimbursement was piece of cake five years ago. Now it's getting more difficult. There are more hoops." — KOL, high volume implanter; "Insurers have taken a lot of shots at spinal cord stimulation. In 2015 they tried to split up the coding. We're just kicking the can down the road until the reimbursement gets hammered again. It's just harder to get approved. Doctors are kind of not wanting to do spinal cord stimulation as much." — KOL, high volume implanter"

"[The CEO's dendrites claim] is a bunch of bullshit because even if you did have a ceramic separator, the kind of synthesis that you would have to do on it just to make sure—here is the deal. You want lithium-ions to flow through it from cathode to anode and vice-versa, but then you're not allowing the dendrites, which is essentially lithium metal again, to pass through the ceramic separator.. That's definitely bullshit. If it's a tiny one-inch diameter coin cell, then yeah, it's entirely possible, and it has to be single-layer as well but it's not going to be representative of what you will see in an actual cell, especially when it comes to a dual-electrode multi-layer cell, this is just not going to hold good at all. — Former R&D employee"

""I'm wondering whether Bristol-Myers will become an acquisition target in the next year." — Unidentified Shareholder, May 2017. "Thank you. So let me answer 2 of your important questions. The first one with respect to your comments about acquisitions. My comment and answer is that our company has very strong performance for our marketed medicines. We have an extraordinary, exciting pipeline that has the potential to develop into really important medicines in the future. And so as a management team, I we are very focused on delivering on the value of our products in our pipeline and that's really our focus and our objective in executing a strategy and delivering long-term value to shareholders." — Giovanni Caforio, Chairman & CEO, May 2017."

""In 2015, we determined that certain of our benefit plans (that were frozen between 1994 and 2003) were not properly accounted for since their inception between 1984 and 1988. This resulted in an understatement of long-term retirement benefits and other liabilities and the cumulative historical expenses related to these benefit plans. Additionally, we identified certain liquid short-term bank drafts with maturities greater than 90 days that were improperly classified as cash and cash equivalents instead of other current assets, which resulted in an overstatement of operating cash flows, and tax effects related to certain foreign pension plans that were not properly accounted for on our consolidated financial statements." — Avery 2015 10-K"

""The entire Meetrics team is thrilled to join forces with DoubleVerify – a rapidly expanding, global organization with a best-in-class verification offering," said Dr. Philipp von Hilgers, Co-founder and Managing Director of Meetrics. "Since 2008, Meetrics has established itself as a leading, Europe-focused ad verification company," said Dr. Max von Hilgers, Co-founder and Managing Director of Meetrics. "We acquired a company called Meetrics to strengthen up our Western Europe, Germany, Nordics business last year They were a local provider of similar solutions, not as robust of course, but similar solutions in those markets. So we basically acquired some amazing customers and some amazing people in those markets." — BMO Conf March 3, 2022"

"“While QC Ware has designed novel practical quantum algorithms and software for enterprise implementation, IonQ has built unique hardware with quantum gates of high enough quality to run these algorithms.” — QCWare quote in IonQ press release; “No, the accuracy is around 70% or so for the ones that we are observing.” — Executive of a key IonQ partner; “I know that the team and a lot of people have publicly said we’re not entirely happy with the IonQ results that we get when we run through Amazon Braket... that was the sentiment from different customers, let me just say different financial customers that I talked to, that maybe the machine that’s on Braket is not getting what they were expecting.” — Executive of a key IonQ partner, QCWare"

""I think one of the things that's really encouraging to us as we continue to get closer to these partners of ours is just learning about their prescribing patterns. I think what we're learning is most of these folks expect this to be a repeat monitoring sort of opportunity into the future where whether they're retesting every single year, their patient population to try to stay ahead of the asymptomatic population that is just completely unaware and avoid those catastrophic downstream events or they're signing up new patients who are coming in all the time. There's going to be a continuous repeat sort of prescribing pattern with these innovative channel partners that excites us." — iRhythm CEO Blackford on Q2 2025 Earnings Call, 7/31/25"

"But think of us as a solutions company and then perhaps most of all, the talent and commitment of our team, and our success strategy is focused on solutions, develop whole platform, the entirety of our platform solutions for lighthouse enterprises, win the endpoint IC opportunity at those enterprises, deliver a platform solution, our endpoint ICs, our readers, a partner ecosystem all tied together to solve an enterprise's problem, engage those partners and make and give them the capability to repeat those successes that account after account, the account being enterprise accounts and then the parts of the market we don't touch directly, compete aggressively for that part of the market through our partners. — Impinj Analyst Day June 2023"

""These appointments and organizational changes are part of Vulcan's ongoing management succession process to develop our new leadership team for the future. They reflect the great depth of talent at the Company and further advance our ability to capitalize on future growth opportunities and enhance shareholder value," said Donald M. James, Chairman and Chief Executive Officer. "Danny, Michael and John are all extremely qualified and well respected executives, and are poised to work together and seamlessly assume these important leadership positions at Vulcan. We also want to thank Bob for his dedication and commitment to Vulcan over these past 24 years, and we look forward to his strategic counsel." — Vulcan Materials Company 8-K Filing"

"Grossman has a history of working with Bess Weatherman of Warburg Pincus who's on the board, and I think they look for companies that are really ground down. They move some people in, move some people out, but at the end of the day, they really control cost. They don't really add true value and that's kind of how I see Grossman. I don't see Grossman adding value to spinal cord stimulation. I don't think he really understands the market. He'll reformat all those guarantees that the reps have. From a revenue point of view, the company should be a lot bigger than it is, but I'm very underwhelmed because when I look at sales capacity, there's 150 more field team now, for about the same amount of revenue. It's crazy. — Former Nevro executive"

"They were all young. The oldest patients in the trial were under 40...I think people are highly incentivized to downplay things that could be on the fence...when you have a causal relationship, uncertain or not known, then they decide to not include those type of things in publications. [...] The atmosphere at the company was very much to downplay the adverse effects [...] if you were to follow up with the company, I would really press on what were the hospitalizations of patients in the trials? And to just ignore the causality and just look at what the company - [...] There was a lot of pressure to not have the investigator assessment to be causally related to the study drug. — Ex-Soleno employee #1, key role in clinical trial program"

"We are in the process of implementing a new enterprise resource planning (ERP) system for our Regulated Water business segment that enhances our business and financial processes and standardizes some of our information technology systems with our other segments. In connection with this new ERP implementation, we have updated our internal controls over financial reporting, as necessary, to accommodate modifications in our Regulated Water business processes and accounting procedures. The next phase of the ERP implementation will address the Regulated Water business segment's customer information system, which includes customer billing, and is expected to go live in the second half of 2023. — Essential Utilities, Inc. 2022 Q1 10-Q filing"

"Government regulation of education and student information is evolving, and unfavorable developments could have an adverse effect on our results of operations. For example, California adopted the Student Online Personal Information Protection Act which prohibits operators of online services used for K-12 school purposes from using or sharing student personal information and Colorado adopted House Bill 16-1423 designed to protect the use of student personal data in elementary and secondary school. These acts do not apply to general audience Internet websites but it is not clear how these acts will be interpreted and the breadth of services that will be restricted by them. Other states may adopt similar statutes. — PowerSchool FY23 10-K"

"Exiting Thermal Coal Producers - Thermal coal is significantly carbon intensive, becoming less and less economically viable, and highly exposed to regulation because of its environmental impacts. With the acceleration of the global energy transition, we do not believe that the long-term economic or investment rationale justifies continued investment in this sector. As a result, we are in the process of removing from our discretionary active investment portfolios the public securities (both debt and equity) of companies that generate more than 25% of their revenues from thermal coal production, which we aim to accomplish by the middle of 2020 — BlackRock, Sustainability as BlackRock's New Standard for Investing, 2020 Letter to Clients."

"“When Nevro developed their cult, and I don’t want to seem...they got a lot of Middle Eastern doctors in there...they got this cult of Middle Easterners, Persians, and Arabs and stuff. And this is not racist – they’re all good docs. When we had these think tanks with Nevro, I was the only white guy there. I think that added to the cult mentality, like this is our thing, this is our bandwagon. It was weird... if you look at the doctors in the forefront...the white-shoe reputable people....that’s not who they got....they brought in a bunch of guys – I wouldn’t say they were outcasts, but...I am blown away because every doctor I know that does a lot of implant volume doesn’t use Nevro except for a small cult.” — Surgeon and ex-Nevro user"

"“I’ve been told that roughly one Lasertec tool is required for five ASML EUV’s. Intel started to buy EUV tools from 2019, and until now, Intel has 22 EUV tools. Intel had 12 tools until 2019, 14 until 2020, 17 until 2021, and 22 EUV tools by last year. There’s roughly one tool for five EUV tools—one Lasertec tool for five EUV tools.” — Longtime Samsung executive in leadership role in EUV; worked closely with Lasertec; decision-maker for inspection tools. “It’s about 1:4 or 1:5. That’s a reasonable ratio”. — Longtime executive at Global Foundries; directly involved with Lasertec and all aspects of mask inspection. “I think that’s pretty accurate.”—Longtime, senior semicap equipment executive in Japan who is friendly with Lasertec’s CEO"

""RiverTown is situated on approximately 4,170 acres located in St. Johns County south of Jacksonville along the St. Johns River. With parks and public meeting places, RiverTown is being planned for 4,500 housing units and 500,000 square feet of commercial space. RiverTown will have seven unique neighborhoods interwoven with community and retail areas by a series of bike paths and walkways, with all roads leading to the community’s centerpiece, the St. Johns river. RiverTown will offer homebuyers a wide variety of price points and lifestyles, appealing to several different target markets, including primary and secondary home buyers. Construction of RiverTown started in 2006 and sales are expected to begin in 2007." — 2006 10-K, page 8"

"“While GSE revenues and earnings are significantly higher now vs pre-GFC levels driven by much higher guarantee fees and meaningfully larger guarantee portfolios, required minimum capital levels have increased far more meaningfully, resulting in a sharp decline in run-rate ROEs. We believe that the only realistic way to solve for this is to remove the stability buffer and take the minimum capital level back to 2.5%. The other alternative is to increase guarantee fees, but we estimate that the increases would have to be in the 20-25 bp range (from the current 65 bp level), which is likely to be politically unacceptable since it would increase mortgage rates by an equivalent amount.” — Keefe, Bruyette & Woods (emphasis added), 1/5/2025"

"Exiting Thermal Coal Producers - Thermal coal is significantly carbon intensive, becoming less and less economically viable, and highly exposed to regulation because of its environmental impacts. With the acceleration of the global energy transition, we do not believe that the long-term economic or investment rationale justifies continued investment in this sector. As a result, we are in the process of removing from our discretionary active investment portfolios the public securities (both debt and equity) of companies that generate more than 25% of their revenues from thermal coal production, which we aim to accomplish by the middle of 2020 — BlackRock, Sustainability as BlackRock's New Standard for Investing, 2020 Letter to Clients"