Red Flags from SWK, RICK, NFLX, and IKNA

Updated: Aug 10

And we dive deeper into auditor tracking


Welcome to our weekly reports featuring impactful and unusual disclosures as extracted by Bedrock AI’s algorithms.

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Filings from the week of January 24-28.

 

Top red flags from last week:


STANLEY BLACK & DECKER INC (SWK) | 8-K | $30B SWK found an error in their EPS calculation, causing them to restate their prior year annual report.


RCI HOSPITALITY HOLDINGS INC (RICK) | 8-K | $860M The company’s President/ CEO, Eric Langan, is jointly guaranteeing the loan.


NETFLIX INC (NFLX) | 10-K | $240B Netflix is overflowing with content, and content liabilities. On balance sheet content liabilities increased from $19.2B to $23.3B, and off-balance sheet content obligations increased from $12.2B to $15.8B.


IKENA ONCOLOGY INC (IKNA) | 8-K | $500M Douglas Carlson, IKNA’s COO and Executive VP of Finance, is stepping down “to pursue other professional opportunities with broader responsibility”. Perhaps in his next role he’ll have three c-suite titles?


Auditors make a difference


When we added auditor tracking to our platform - a new trend jumped out. Certain audit partner names come up again and again next to high risk companies.


Here’s a few audit partners whose clients’ averages Risk Score a have an average risk score of at least 70*, and the names of a few companies they’ve audited.



*Risk Score are available on our institutional platform. Our risk score range from 0-100, with 70-79 a moderate-high risk, and 80+ as high risk.

 

About us: Bedrock AI extracts red flags from SEC filings based on learned associations with downside outcomes. Our institutional dashboard analyzes annual and quarterly statements, 8-Ks (and soon - prospectuses and SEC comment letters) for over 8,000 tickers. We process filings and render analysis in real-time. Connect with us on Twitter.


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