Callouts & quotes from 10,384+ activist slides

"Genscript called out Twist’s nascent, much-hyped antibody discovery business as a flop... that these customers painted Twist’s antibody efforts as a face-plant — that they couldn’t come up with antibody leads nor honor timelines, taking 7-8 months before failing."

"And secondly, looks like MidOcean is selling this about four years to the day almost from when they bought it, do you guys know what they paid for it and what the EBITDA looked like at that point? — Analyst Altobello; No, we wouldn't comment on that — CEO Farrell"

"In our discussions with intermodal experts and shipping brokers, the common estimate was that the ceiling on intermodal prices – usually about 20% lower than OTR – was about half a function of time and half due to reduced reliability and flexibility. — Footnote 9"

"Further, during the three months ended March 31, 2020, we elected to drawdown on the revolving credit facility available to us in light of the macro-economic conditions and its potential impact on credit market availability in the future. — Forescout Technologies"

"Specialty pharmacies are notorious for overcharging on patients with insurance, thereby wiping out their lifetime maximum benefit. Patients can typically procure drugs from abroad and have them imported for exactly half of the cost as in the US. — FertilityIQ.com"

"A 2019 study titled “Trends in Health Equity in the United States by Race/Ethnicity, Sex, and Income, 1993-2017” found that income was the biggest predictor of differences in health outcomes and that health inequality has actually worsened over the past 25 years."

"In 2013, we anticipate an operating expense reduction of approximately $150 million over our estimated 2012 levels, with benefits beginning to be reflected in Q1 and the majority of the reduction occurring in the second half of 2013. — Q2'12 Juniper earnings call"

""It was happening kind of frequently...I know other people complained about it a lot...it seemed really weird to be flying people in from somewhere else to do cases that were here in the state...nobody knows the answer to why." — Former TransMedics OCS specialist"

"This effort, along with additional usage optimizations, enabled us to continue operating our business within our existing infrastructure base without a need for extensive incremental capital expenditures and leasing activity. — Dropbox IPO prospectus October 2017"

"Trade secret protection, particularly for the Company's most valuable product formulation for the WD-40 Multi-Use Product, requires specific agreements, policies and procedures to assure the secrecy of information classified as a trade secret. — WD-40 Risk Factor"

"“Bristol-Myers management was “aware that this class patent could be a roadblock to ozanimod commercialization,” yet has continued to promote the product’s blockbuster potential to shareholders, even going as far as to call ozanimod “de-risked”” — Starboard Value"

"I am honored to have been selected and am looking forward to working with Invesco’s Board of Directors and leadership team. I believe there is great opportunity to build on the momentum Invesco has created and am excited to help continue that success. — Mr. Finke"

"“Furthermore, as you stated earlier, we receive advance payments from customers at the time of order. Also, in terms of ACTIS, we have reached agreements with customers to receive advance payments from customers at the time of order.” — Lasertec CEO, Feb 2021 Q&A"

"“They were visiting in part because of some of the concerns we've talked about, quality concerns with the equipment, and to get a first-hand view of what is done at the factory to improve outgoing quality of the machines.” — Longtime executive at Global Foundries"

""TSMC was the first one to adopt the Holon tool, and currently, I think Samsung, Intel, and most of the other customers in the EUV space are also adopting the Holon tool." — Longtime, senior semicap equipment executive in Japan who is friendly with Lasertec's CEO"

""The very first thing you need, and you absolutely positively cannot take this for granted, is you have to have a collection system for spent batteries... The bottleneck is in the collection stream. There's a lot more to it than meets the eye." — Industry Expert"

"On March 1, 2011, the Company acquired 100% of the outstanding shares of a company that owned 650 communications sites in Brazil for $583.7 million, of which $543.3 million was paid using cash on hand during the six months ended June 30, 2011. — AMT Q2 2011 10-Q"

"“Successful companies generally have two things - a good strategy and solid execution. A good strategy establishes corporate focus and determines which businesses a company should stay in and exit over time. And solid execution gets the job done.” — Harvey Golub"

"“Viacom executives indicated in a recent conference call with investors that they were ‘encouraged’ by ad-sales momentum in the third quarter, thanks to new programs on MTV and Comedy Central.” — AdAge; “PLUS ÇA CHANGE, PLUS C’EST LA MÊME CHOSE” — French Proverb"

"The evidence we have seen raises concerns regarding the manner in which costs were allocated between those two entities, and the consistency of that allocation with public disclosures. — SPECIAL INVESTIGATIVE COMMITTEE OF THE BOARD OF DIRECTORS OF WORLDCOM, INC."

"“...our goal is to accelerate value. We have a deep multi-decade inventory and we want to bring as much of that value forward. So, our plan would be to leverage those efficiencies and be able to drill additional wells...” — Rick Bott, Continental President & COO"

"During the years ended December 31, 2023, 2022 and 2021, the Company received cash proceeds of $1,404 million, $1,496 million and $1,504 million, respectively, from the sales of accounts receivables under its factoring arrangements. — Zebra 10-K and 10-Q filings"

"(1) Consists of 32,623,385 shares held of record by Ever Alpha Fund L.P. Ever Glory Limited is the general partner of Ever Alpha Fund L.P. Ever Glory Limited is a wholly owned subsidiary of Guangfa Xinde Capital Management Limited. — Twist S-1 filing, Oct 3 2018"

"The duration of our contracts vary by customer. The weighted average contract duration for commercial Entities in the year ended April 30, 2020 was 35 months, while the weighted average contract duration for federal agency Entities was 11 months. — C3 Prospectus"

""If you take the SG&A for this year, Mike, we're probably -- we're around 24% to 25% on remainco with all of the costs on the SG&A, okay? We're targeting in '18 to get that number on a run rate basis down to 22% to 23%." — Greg Poling, President & CEO (May 2017)"

"“If you mean by “gain on sale” the gain from real estate promotion (i.e. the selling of walls/sites + rights to build attached and one day the option to buy back the walls of the shrunken stores) yes it is included in the EBIT/EBITDA” — Casino Investor Relations"

"“That is very interesting to me and I’m involved in as I worked for a private equity backed player. I counted about 40 private equity groups trying to get into the market just since February... Some PE groups are paying stupid money.” — Former Industry Executive"

"Something to think about when you're studying them is, kind of, why are their margins so high, and my theory is that their [Aerospace Products] asset base is at [the] depreciated book value and that's the cost that gets baked into their margins. — MRO Competitor"

"Management continues to describe a robust demand environment, benefiting from the IIJA and strong state fiscal support, with no change to positive outlook for the company's favorably-exposed Southeast private sector market activity either. — Baird (Nov 21, 2024)"

"Atrasentan is an investigational drug that has not been approved by regulatory authorities. Efficacy and safety have not been established. There is no guarantee that it will become commercially available for the use(s) under investigation. — Chinook Therapeutics"

"“Defendants’ program does not offer participants a viable retail-based business opportunity.” — FTC v. Herbalife International of America, Inc., et al. (July 15, 2016). Case No.2:16-cv-05217, Complaint for Permanent Injunction and Other Equitable Relief, at p.4."

"The reason, we infer, is subtle but nefarious, as we cover in a later chapter: we think the best way to hide that your drug made a substantial portion of Phase 3 patients pre-diabetic or diabetic over 13 weeks is by claiming they were pre-diabetic to begin with."

"“Defendants’ program does not offer participants a viable retail-based business opportunity.” — FTC v. Herbalife International of America, Inc., et al. (July 15, 2016). Case No.2:16-cv-05217, Complaint for Permanent Injunction and Other Equitable Relief, at p.4."

"10) This assertion by Muddy Waters Capital is wrong in its substance and intended implications! The implied assertion by Muddy Waters Capital that our guidance relating to the profitability of this product group is questionable is grossly incorrect! — Ströer SE"

"These unaudited condensed consolidated financial statements have been prepared on a going concern basis, which implies that the Company will continue to realize its assets and discharge its liabilities in the normal course of business. — ABML 10-Q Filed 2/16/21"

"The main thing that confuses me is when companies on the front pages of their annual report always show any adjusted earnings or EBITDA and do not show what really interests me as a shareholder, namely EBIT and what is there after taxes. — Anonymous Shareholder"

"“We used 30x30mm cells, made from separators cut from our standard target commercial area separators, because it allowed us to effectively quadruple the number of test cells as we work to scale up our engineering line capacity” — QuantumScape Shareholder Letter"

"There needs to be real tight connection between the commercial organization and the refining organization...that's something that Phillips 66 seems to have taken their eye off the ball on. — Brian Coffman, Former CEO of Motiva Enterprises, Elliott Board Nominee"

"We define a Customer as each such buying entity that has an active contract to deploy the C3 AI Suite or one or more C3 AI Applications. We often provide our software to a distinct department, business unit, or group within a Customer. — C3 DRS October 23, 2020"

"“The appropriate size of [the] risk adjustment depends, of course, on such factors as the circumstances of the estate, the nature of the security, and the duration and feasibility of the reorganization plan” — Opinion of Justice Stevens, Till v. SCS Credit Corp"

""WPP Is Looking at CEO Martin Sorrell's Possible Misuse of Assets and Allegations of Improper Behavior Questions come as advertising giant is facing cost-cutting pressures from clients and stepped-up competition from Google, Facebook" — Wall St. Journal, 4/3/18"

"For products and services that are provided in advance of billing, such as our asset-based fee products, unbilled revenue (or a "contract asset") is included in Accounts Receivable on the Company's Consolidated Statement of Financial Condition. — 2019-2021 10-K"

"Research and development costs primarily consist of salaries, consulting and other costs. The Company expenses these costs as incurred — p. F-11; We have devoted an increasing proportion of our research and development budget to software development — 10-K, p.7"

"「私の勝手の概算ですが、住友製のステージは非常に高額で、少なくとも300万ドルはかかるはずです。また、例の複雑な光源は諸々の割引を含めても700、800万ドルになるでしょう。そして光学系になると、鏡は400万ドルはするでしょうし、全体で600万ドルにはなるでしょう。チャンバー（真空室）とか、結像演算などを含めると、さらに100万ドルはかかります。加えて、光源のアイソレーション対応は300万ドルほどかかるでしょう。合計でいくらでしょうか、2000万ドルくらいでしょうか」 — KLAで極端紫外線マスク検査を担当した元幹部"

"「光源の交換はだいたい1日のサイクルで行いました。大ざっぱに言えば2週間ごとに交換していました。極端紫外線の場合、空気中では伝達できないため、真空状態を作らなければいけないのでたいへんです。真空状態を作ったり解除したりするのはかなりの時間がかかり、ダウンタイムが多くなります。……光源が納まっているチャンバー（真空室）を開ける度に真空を解除しなければいけません。再稼働するときにはまた室内を真空状態に戻す必要がありました。」 — インテルのマスク工場を現場で担当していた、レーザーテックの元フィールド・サービス・エンジニア"

"Actually, the revenue recognition of the Shunshun business is based on they need to get an offer and they need to get a visa. So I think in general, most of them will come to recognize maybe in Q3 or Q4 next fiscal quarter. — TAL FY17 Q1, FY17 Q3 Earnings Calls"

"It is unacceptable that the current Board was not made aware of the contract termination when it took place. We are taking immediate and appropriate measures to ensure that this type of communication breakdown is not repeated. — Dalton Gooding, Quintis Chairman"

""If [HMA] does not meet or exceed the Quality Requirement, the [Compensation] Committee will exercise its discretion to reduce the portion of the Adjusted EBITDA-Modified Performance Components that is eligible to vest and be paid by up to 20%." — HMA Form 10-Q"

""In the current economy, I thought I would reform," — Mary Hall, New York Times, 10/24/2008. "I probably should, but I probably won't," — Kim Calloway, Wall Street Journal, 10/25/2008. "I'm about the bargains," — Charlene Stone, Wall Street Journal, 10/25/2008."

"50. Officer Defendant Dan Bodner has served as President and/or CEO of Verint since February 1994. Like Director Defendants Alexander and Hiram and Officer Defendant Kreinberg, Mr. Bodner also is a director of Verint. — Verified Shareholder Derivative Complaint"

""Desperate times call for desperate measures, Gavin. Not going to lie to you. We added some early customers and we had no references to show them. If they asked us to wear a tutu to the first meeting we would have done that too." — Jonathan Bush, April 18, 2014"

"Additional Collateral Shares means the class B ordinary shares in GSX Techedu Inc. (GSX) owned by the Company which are required from time to time to be subject to the Security created by the Deed pursuant to the terms of the Loan Agreement — Walkers Form R401."

"“they will talk themselves in circles trying to explain their rationale”; “they’re making an offer I can’t refuse...it’s like racketeering...mafia-style...a thug-style way of getting things done.” — Transplant surgeon at a high volume West Coast academic center"

"B]ecause of this long onset and a particular set of anxiety and insomnia side effects, it's a drug that you could have half the people just say no thank you after a couple of weeks. — KOL who has published 800 papers in the field, at a prominent center in Texas"

"We believe that a realistic range for Net Earning Assets is $426 million to $1.0 billion, an adjustment downward of between -77.5% and -90.4%. We explain our assumptions, and why we believe they are far more realistic than RUN's, herein. — Muddy Waters Research"

"That's what the whole discussion is about. We were accused of having switched, because we had purchased companies that are growing at a faster rate than our core business, and were attempting to cover up weaknesses in our core business in this way. — Udo Müller"

"At least 5,728 of those traceback notices were sent to Inteliquent since August 2022, which is after the Task Force first reached out about its concerns regarding Inteliquent’s call traffic, and notices are still being issued in 2025. — December 2025, AG Letter"

"On 22 June 2018 the company acquired 100% shareholding in a related company for the total consideration of €27,500 which was subsequently disposed of on 10 July 2018 for the same consideration. — Delancey Holdings Ltd. 2018 Cyprus Financial Statements, Note 10."

""We do not need any more equity. So I know that rumor has been out on the street that we were going to be outgoing searching for and doing some form of equity offering. I can tell you today we are not doing another equity offering." — CEO Dovigi, WCA Deal Call"

""There is a company representative in every single one of the Aquablation cases across the US...no medical training is required, but Procept has a very rigorous and expensive training program..." — Spruce Point Interview with Former Procept Executive, Nov 2024"