Callouts & quotes from 10,384+ activist slides

"“We went to Nevro’s headquarters to discuss the high explant rates and for four months they had their top couple of programmers come down to my office to see a bunch of my patients and ‘optimize their therapy.’ It got to the point where I was like, we can’t do this anymore. After 18 months I stopped implanting Nevro. I realized this shit doesn’t work.” — Ex-Nevro consultant/speaker and one of the most prominent KOL’s in the space"

"We have not contacted any of the prospective target businesses that [BCAC] or [Orlando's third SPAC] had considered and rejected. We do not currently intend to contact any of such targets; however, we may do so in the future if we become aware that the valuations, operations, profits or prospects of such target business, or the benefits of any potential transaction with such target business, would be attractive. — DWAC S-1 Filing"

"My Administration would have also sold the government’s common stock in these companies at a huge profit and fully privatized the companies. The idea that the government can steal money from its citizens is socialism and is a travesty brought to you by the Obama/Biden administration. My Administration was denied the time it needed to fix the problem because of the unconstitutional restriction on firing Mel Watt. — Donald J. Trump"

""none of mine continued on it either because they didn't want to or not having much effect - overall this isn't a miracle drug, that's for sure"; "they stopped it because they just didn't see any benefit...it wasn't doing much and they were still very obese...they didn't feel it worthwhile with the ongoing assessments and all the rest of it...the benefits were not seen to be good enough to continue on it." — Trial investigator #4"

""We cannot prove it. But we cannot rule it out." — CEO Dennelind (to OCCRP). "We have been as open as we believe is possible. There are many factors we need to take into account in order to act wisely and constructively," — Ms. Ehrling. "In a crisis situation such as BP’s Gulf of Mexico spill (or TeliaSonera’s corruption coming to light), company attorneys tend to counsel publicly disclosing as little as possible." — Lord Browne."

""So when our marketing team is thinking, hey, do we increase or decrease some of our, call it, paid search or digital channel investments, they're not looking at the average customer acquisition cost. They're looking at the marginal, meaning that next dollar spent, either higher or lower, and seeing what the return on is -- on that marketing dollar is. And so I think that's a big part of our secret sauce." — CEO GS Conf Sept '24"

""So if you look at our used business, the FICO on our used business which represents about 52%, 53% of all the business that we originate today is coming on at an average FICO of 680. Our new business is coming on an average FICO of 700. So it's very steady across the board. You don't see big barbells in our portfolio, which again gives us confidence when the environment does turn." — Jeffrey Jonathan Brown - CEO, Ally Financial"

"“We ... do not believe the shares will be appropriately valued under the current corporate structure. A difficult decision to spin off its downstream businesses could ultimately be the key.” — Dahlman Rose, September 2012; “Our vertical integration -- producing aluminum, rolling aluminum, and engineering unique and specialized products for our customers -- is a huge advantage.” — Dr. Kleinfeld, China Hands Magazine, July 1, 2013"

"The auditor should view related party transactions within the framework of existing pronouncements, placing primary emphasis on the adequacy of disclosure. In addition, the auditor should be aware that the substance of a particular transaction could be significantly different from its form and that financial statements should recognize the substance of particular transactions rather than merely their legal form. — AU Section 334"

""We actually did have a surprising quality issue with Twist in January, and we still don’t totally understand it... it seemed like it was going to ruin our experiment... they were very accommodating as far as redoing things without charging us and talking to us to investigate all of the possible causes, but it didn’t actually get anywhere." — Current Twist customer, professor with a protein therapeutics lab at a major university"

"“...we benefited this past quarter from a continued spike in our component MDI. We said in our third quarter call that we believe we benefited by approximately $40 million of extra margin due to this temporary spike...We believe that the fourth quarter benefited by approximately $85 million due to these constraints. We believe that these one-off conditions will abate...” — Peter Huntsman, Chairman, President & CEO, February 2018"

"“...we benefited this past quarter from a continued spike in our component MDI. We said in our third quarter call that we believe we benefited by approximately $40 million of extra margin due to this temporary spike...We believe that the fourth quarter benefited by approximately $85 million due to these constraints. We believe that these one-off conditions will abate...” — Peter Huntsman, Chairman, President & CEO, February 2018"

""There is massive opportunity within the national home service marketplace for Cinch and our partners at Porch," said Steve Upshaw, Cinch CEO. "Both of our companies share a deep passion for making life easier and providing added transparency for our clients, partners and service providers. Together, we can better anticipate, meet and exceed the expectations of today's ever-more sophisticated consumer." — Steve Upshaw, Cinch CEO"

"At the current time, Lightsource bp typically overplant by between 1.25-1.8, and this range is typical of solar farms in the UK. This is equivalent to ~62MWp-90MWp on a 49.9MW(AC) connection. The potential capacity on any site will be dependent on site-specific conditions, including location, topography, aspect, irradiance, shading, environmental and other constraints. — Lightsource BP - Burnhope Planning Statement, 11 June 2024"

"“I hate flying their team all over the fucking country. I hate it. I hate paying for private jets...I don’t know why we have to pay for all these ridiculous transportation invoices...they just started flying their teams and then sending us these invoices...there’s very little transparency...we just get a piece of paper...it’s just a number...they could have made it up.” — Administrator at a pre-eminent academic transplant center"

"The patient's long QT just didn't refer immediately, so the patient was admitted into observation, hooked up to a monitor, so for telemetry monitoring for heart rate and rhythm strip for 24 hours. The cardiologist wanted to get an echocardiogram to make sure the ejection fraction was standard. Basically, what they were trying to rule out was an underlying cardiac issue. - Neurologist at a large hospital system in a Midwest state"

"The patient's long QT just didn't refer immediately, so the patient was admitted into observation, hooked up to a monitor, so for telemetry monitoring for heart rate and rhythm strip for 24 hours. The cardiologist wanted to get an echocardiogram to make sure the ejection fraction was standard. Basically, what they were trying to rule out was an underlying cardiac issue. — Neurologist at a large hospital system in a Midwest state"

"“we sat around the table reading the article...the specific things that we talked about were diabetes and cardiac risk...at this point, nobody is really saying this is something we absolutely should be doing...the company thinks it's the best thing since sliced bread...you know what?...we are going to do our standard of care...we're not going to start it day one.” — Pediatric endocrinologist, division chief at an academic center"

""Disney has an incredible legacy as one of the leading and most successful consumer entertainment companies in the world... But in recent years, the Company has lost its way resulting in a rapid deterioration in its financial performance from a consistent dividend-paying, high free cash flow generative business into a highly leveraged enterprise with reduced earnings power and weak free cash flow conversion," said Nelson Peltz."

""Can the Omnipod be configured with Libre 2.0 if they receive a high designation?" — Suraj Kalia, Analyst, Northland Securities; "Yes, that's a beautiful thing about this pathway that the FDA has created. If they were able to reach special controls then certainly it could be a very easy clinical path to integration of their sensor in, for example, Horizon down the road." — Shacey Petrovic, President and CEO, Insulet Corporation"

"In the fourth quarter of 2017, the Company amended a defined benefit post-retirement plan at one of its operating divisions by eliminating employer paid subsidies toward retiree medical benefits as of December 31, 2017. The Company recognized a gain on settlement of $24.6 million immediately in earnings in the fourth quarter of 2017, with an offsetting reduction to net defined employee benefit liabilities — Annual Report p. 113"

"I expect to get into clinical studies early part of next year on our path to commercialization of the 2025 time frame. So I remain excited about that. I think we’ve learned a lot about our capabilities in terms of algorithms and how to leverage our clinical back end and the options kind of available to us from a strategy standpoint. So excited about where that’s headed. — iRhythm CFO Wilson at Morgan Stanley Conference, 9/13/23"

""How do you measure success? The answer is right here. We launched in the US and within 9 months there was a national oat milk shortage. It's cool but not cool because you want to supply that. We believe the truth about the underlying cause of the shortage is much more grim and a function of management's ineptitude and the harmful side effects of producing oat milk." — John Schoolcraft, Oatly's Creative Director of Mind Control"

""Oatly's growth has been impressive. It has contributed to U.S. sales of oat milk going from $6 million in 2018 to about $40 million in 2019." — THE RISE OF OATLY, UMGAS Magazine; "From 2018 to 2019, sales of oat milk skyrocketed from $6 million to nearly $40 million, Genevieve Aronson, VP of communications at Nielsen, told CNBC Make It." — How Oatly went from a decades-old obscure brand to a $10 billion IPO, CNBC, May 20, 2021"

""I used a bunch of products like Hada Labo premium, Eucerin and La Roche Posay. Nothing helped until I decided to try out this one." — Amazon (US customer review). "This lotion is a saviour to all dry skin beauties... None of the Indian creams have worked for me, Nivea, Dove etc." — Amazon (India customer review). "This product is really hydrating... Also really good as a night time mask" — Lazada (Philippines customer review)."

"“Obviously, if you’ve walked in their store lately, one of the things that concerns me is they’re starting to bring in more SKUs outside of flooring. They’re carrying vanities and faucets. Sometimes when your companies take their focus off of the core, it hurts them. I think that tells me a couple of things. It tells me that they’re starting to struggle for comps as they run out of new store growth.” — Former Industry Executive"

""So I should see in your modeling - we expect to generate FCF of roughly $400M in FY 2018, taking into account incremental capital expenditure up to $100M associated with the multiyear development of our new campuses in Israel. Normalizing for this capital expenditure, we expect FCF of roughly $500M in FY 2018.... This investment, if consummated, will be financed from internal cash resources" — Tamar Rapaport-Dagim, CFO, Amdocs"

"Nelson Peltz and I worked closely together on the Legg Mason board. As a board member, Nelson was focused on improving operating results and strategy. There is no doubt that Nelson was an important contributor to Legg Mason’s turnaround. — John T. Cahill, Chairman and CEO, Kraft Foods Group, Lead Independent Director of American Airlines Group, Inc., Director of Colgate-Palmolive Company, and former Director of Legg Mason, Inc."

"Nelson Peltz and I worked closely together on the Legg Mason board. As a board member, Nelson was focused on improving operating results and strategy. There is no doubt that Nelson was an important contributor to Legg Mason’s turnaround. — John T. Cahill, Chairman and CEO, Kraft Foods Group, Lead Independent Director of American Airlines Group, Inc., Director of Colgate-Palmolive Company, and former Director of Legg Mason, Inc."

"Simultaneously with the arrangements between Ginkgo and each of Ayana Bio, LLC and Verb Biotics, LLC, Cascade Investment L.L.C. and entities affiliated with Viking Global Opportunities Illiquid Investments Sub-Master LP, each of which hold more than 5% of Ginkgo’s outstanding capital stock, invested approximately $7.5 million and $22.5 million, respectively, in each company. — Soaring Eagle Acquisition Corp prospectus 8/13/2021"

"Latin America operating profit trended down during the fourth quarter and full-year as compared to last year... We have reduced both variable and fixed costs in our Latin America business, which has driven profit improvement since the low point during the second quarter of 2017. Conditions are stabilizing in Brazil, and we expect improving profitability in '18 and beyond from the actions we have taken. — Bemis Q4 2017 Ended Dec"

""Yes, and Scott, so let's go back to 2015, you saw that we had about a 60% conversion rate of EBITDA to free cash flow* and through what you have seen this year particularly for this quarter we are in line with that performance. So I will say the expectation moving forward around free cash flow generation to EBITDA will we continue to be at that 60% level, I think we will be close." — Jody Tusa (former CFO), Q3'16 Earnings Call"

"“Oh really? I didn’t know that.” — Transplant surgeon and surgical director at a high-volume academic center in the western US; “Their surgical procurement is the black box that I’ve never known anything about. Here I am thinking a national organ program could be surgeons from accredited centers who are hired guns for the company. But that’s such a simplistic assumption.” — Transplant hepatologist Massachusetts General Hospital"

"Meanwhile, Jeffrey Jolcover of Las Vegas, who worked for the state from 1977 to 1979, faces a prison term of up to 25 years. Standing next to his attorney in federal court Thursday morning, Joseph Cronin of Reno, Jolcover pleaded guilty to charges of conspiracy to commit securities, mail and wire fraud, and money laundering in connection with the sales of securities to the public in wireless television systems. — Las Vegas Sun"

"“The silicon-carbon cell performance in slide 19, I think again you see the discharge energy is in percentage, which really, really worries me because lithium-ion cells do not look like that at all. If you look at some of the Sila Nanotechnology data, 1000 cycles is very flat. They always pick a bad cell to compare their cell to. The gray reference is not state of the art carbon anode.” — Leading solid-state battery researcher"

""The limitation is that you want to get the fidelity of that two-qubit interaction as close to zero as possible, and it's not even very close to zero right now. And it hasn't been for many years." — Ex-IonQ employee, member of technical staff; "100-ish qubits, that's right." — Leading quantum computing scientist; "they're not going to solve any real-world problem." — IBM quantum computing researcher with expertise in ion-traps"

"“I don’t have an exact count. Less than a handful, maybe three or four, not more than that. Over a year, year-and-a-half.” — Executive of a key IonQ partner, QCWare; “Right now, there’s no money involved in the current partnership we have. We just tell them we want access to the latest and greatest machine... there’s no money changing hands between QC Ware or IonQ in this partnership.” — Executive of a key IonQ partner, QCWare"

"Spike TV has turned the venerable commercial break into a commercial marathon. During certain broadcasts of "Entourage," the Viacom cable channel has quietly run ad breaks ranging anywhere from six minutes in length to something approaching an eyebrow-raising 10 minutes in total. In some cases, the ad breaks are longer than segments of the show, episodes of which have in recent weeks taken as long as 48 minutes to run. — AdAge"

""But the one that's really become very important to us is asset utilization. And if I think of how I define that, I don't care if you're looking at a casting furnace, a forging press, machine tools, it's finding the ability to create more headroom, more opportunity, more casting time, more cut time, chip time, whatever it is, that creates the opportunity to put more volume over the same asset." — Mark Donegan, December 3, 2014"

""My question is just on your M&A pipeline. You had a very busy first half in '23, but it seems like the pace of M&A has slowed and maybe just talk through that. I know it's lumpy, but is there a lack of appropriate targets out there, factor valuation? Just maybe some thoughts there." — CIBC Analyst; "No, no, absolutely not. I think it's not about the weak pipeline or the weak backlog of potential acquisitions." — CEO L'Heureux"

"Exploration licenses are amortised over the shorter of the term of the license and their expected useful economic lives. All licenses recorded as at 31 December 2019 have a license term of 9 years. A full impairment charge was made in 2013 as no revenue arising from the licences have yet been agreed or forecast with sufficient levels of certainty. — UK Seabed Resources Limited 2019 Annual Report filed at the UK Companies House"

"In June 2019, the Company entered into multiple agreements with Baker Hughes Company ("Baker Hughes") under which Baker Hughes received a three-year subscription to use the Company's software. These agreements were revised in June 2020 to extend the term to five years and modify the subscription fees due. Under the revised agreements, Baker Hughes has made minimum, non-cancelable revenue commitments... — SEC Filings Disclosure"

"When it comes to strengthening our core business, we remain focused on the potential of our market-leading Cathedral City brand. In the first quarter, we entered into a long-term exclusive partnership with Hochland to expand distribution of our market-leading Cathedral City brand into Germany, starting in the fourth quarter of fiscal '22, and we continue to ramp up our distribution to North America. — Saputo Q2 2022 / Nov 2021"

"“the package insert specifically talks about all of these things...the idea is that physicians need to take care of that.” — Soleno CEO; “so far, the company has received reports of 7 patients experiencing SAE"s that led to hospitalizations, out of hundreds of start forms (646 by June 30); all of these patients have since recovered.” — Guggenheim Securities (Aug 18, 2025: “Flash Note”/“SLNO: Notes from Mgmt/Investor Meetings”)"

"It's still fairly early, and I can't say a ton...We're pushing in directions that have been not something that other folks have looked at because they don't look at microbes. To the extent that it can compete against other screening technologies, the jury is still out. It's sort of a bet that we've taken with Berkeley Lights to find out if that's the case. That's why I was a little bit qualified. — Gingko Bioworks Executive #1"

""As we look to fiscal '19, we believe there is a unique opportunity to deliver value to our stakeholders beyond M&A by returning capital to shareholders through the announced $50 million share repurchase. We see this as an incremental way to add shareholder value without inhibiting our long-term ability to invest in brand building, delever and pursue future M&A opportunities." — Christine Sacco, CFO, Q4 2018 Call, May 10, 2018"

"“There’s probably 120 global physicians that represent the majority of Nevro’s total revenue. If each of those guys is doing, like a mega Nevro guy doing 70 to 100 devices a year, that’s like $300 million. The number of physicians doing more than 40 implants a year would surprise you. It’s a very small number.” — Former Nevro executive; “90% of implants are still done by the top 10% of doctors.” — KOL and high volume implanter"

""In most cases, on the food and retail side, customers outright buy the equipment. On the heavy manufacturing side, you may have 40% to 60% of those customers lease the equipment. Because we don't know what our deals are yet for those years, I can't tell you what we expect in terms of what the mix is between capital purchases and lease financing deals.... 50% of our shipments will be in food." — Gerry Anderson, CFO, Plug Power"

""Again, there's a lot that's not really in there...77 people, that's such a small thing...I'm just so surprised the FDA didn't question that, that almost half of the people dropped out before the randomized withdrawal study...when I finally read the final-final, I was just kind of, huh...that is just so few people...the data...just really isn't compelling enough." — KOL in the PWS field; involved with Soleno's clinical program"

"“The last set of initiatives that we took you through several years ago, the $1 billion to $1.5 billion in EBIT this year, are paying off.” — CEO Bob Jordan, October 2023; “... About $1.5 billion in incremental year-over-year pre-tax profit from our network optimization efforts and the contributions from our portfolio of strategic initiatives, is driving us to expect additional revenue records.” — CEO Bob Jordan, January 2024"

""The last set of initiatives that we took you through several years ago, the $1 billion to $1.5 billion in EBIT this year, are paying off." — CEO Bob Jordan, October 2023; "... About $1.5 billion in incremental year-over-year pre-tax profit from our network optimization efforts and the contributions from our portfolio of strategic initiatives, is driving us to expect additional revenue records." — CEO Bob Jordan, January 2024"

""We have identified and are currently reviewing certain customer transactions for which revenue was recognized and reported in the consolidated financial statements of Stratus Technologies International, S.à r.l. for fiscal 2004 and the first quarter of fiscal 2005... the consolidated financial statements... should not be relied upon as an accurate reflection of our financial results for these periods." — Stratus Technologies"

""You need to support the volume to attract the capital," said David Field, chief executive of OneRoof Energy Inc., a solar firm that is in the process of liquidating after it ran out of money late year. "You find yourself in a vicious cycle." — David Field, OneRoof Energy Inc. CEO; "There has been a shift in customer preference for loans" rather than leases, Mosaic Chief Executive Billy Parish said. — Billy Parish, Mosaic CEO"

"“they don’t offer anything innovative” — Major pharma customer; “go bankrupt or collapse” — Major pharma customer; “fairly known problem” — Industry executive; “no advantage” — Ex-Twist director-level employee; “they ask for a really long time” — Novartis; “always been slower than competitors” — Novartis; “rarely using Twist now” — Ex-Twist employee; “Definitely we were frustrated, so we just walked away.” — Ex-Twist employee"

"“Therefore, in order to restore the balance between safety and soundness and mission, FHFA has placed Fannie Mae and Freddie Mac into conservatorship. That is a statutory process designed to stabilize a troubled institution with the objective of returning the entities to normal business operations. FHFA will act as the conservator to operate the Enterprises until they are stabilized.” — James Lockhart, FHFA Director, 9/7/2008"

"“The last set of initiatives that we took you through several years ago, the $1 billion to $1.5 billion in EBIT this year, are paying off.” — CEO Bob Jordan, October 2023; “... About $1.5 billion in incremental year-over-year pre-tax profit from our network optimization efforts and the contributions from our portfolio of strategic initiatives, is driving us to expect additional revenue records.” — CEO Bob Jordan, January 2024"

"“Therefore, in order to restore the balance between safety and soundness and mission, FHFA has placed Fannie Mae and Freddie Mac into conservatorship. That is a statutory process designed to stabilize a troubled institution with the objective of returning the entities to normal business operations. FHFA will act as the conservator to operate the Enterprises until they are stabilized.” — James Lockhart, FHFA Director, 9/7/2008"

"“The last set of initiatives that we took you through several years ago, the $1 billion to $1.5 billion in EBIT this year, are paying off.” — CEO Bob Jordan, October 2023; “... About $1.5 billion in incremental year-over-year pre-tax profit from our network optimization efforts and the contributions from our portfolio of strategic initiatives, is driving us to expect additional revenue records.” — CEO Bob Jordan, January 2024"

"As a remuneration, Ströer Sales & Services GmbH receives a percentage of the turnover generated with the distribution of the relevant advertising units, regularly 10%. Ströer Sales & Services GmbH is obliged to reimburse SAW for certain costs incurred when affixing posters on the advertising units, if and to the extent that Ströer Sales & Services GmbH is paid for these costs by the relevant customer. — Ströer 2010 prospectus"

"“Therefore, in order to restore the balance between safety and soundness and mission, FHFA has placed Fannie Mae and Freddie Mac into conservatorship. That is a statutory process designed to stabilize a troubled institution with the objective of returning the entities to normal business operations. FHFA will act as the conservator to operate the Enterprises until they are stabilized.” — James Lockhart, FHFA Director, 9/7/2008"