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Marriott: 500 Million Customers Might Not Be Wrong, But They Might Be Upset

On November 30, 2018 Marriott International (MAR) publicly disclosed that it had a data security breach. It became aware of the breach September 8, 2018. Their internal investigation showed 500 million customer records had been stolen from its Starwood guest reservation system.

Watchdog Concerns: ELP

The US-based PG&E is teaching the world that utilities are not boring. In the midst of the upheaval at PG&E, we noticed a change in CEO at ELP and decided to take a closer look. The results were unfortunately predictable from a BRIC country. Insider trading appears rampant and ELP is under pressure from government, judicial and legislatures. How did we come to that conclusion?

Watchdog Concerns: Crypto Corp.

On January 3, 2019, Crypto Corp. filed an 8K indicating a significant restatement.

Alteryx's Late Game Auditor Change

On January 24, 2019 Alteryx disclosed it was terminating PWC as its outside auditor. Because of the seriousness of an auditor termination, we are posting the company’s relevant disclosure here:

Halliburton's Short-Tenured CFOs

“Maduro on the Brink” was Drudge’s top headline Jan. 23, 2019. We wondered how companies operating in Venezuela account for risks.

Early Retirement for Target's CFO

On January 10, 2019, Target’s CFO Cathy Smith resigned after serving in her role for less than four years. We wish her well in her retirement, but with all the turmoil happening in retail we take a skeptical view of any 54 year-old CFO suddenly “retiring.” at one of the world’s top retail corporations. Is there something else going on?

Watchdog Concerns: Agilent

On Jan. 16, 2019, Agilent Technologies announced the addition of SAP executive Mala Anand to its Board of Directors. Agilent is a well regarded company with a $23 billion market cap on annual revenue of $4.9 billion. When new members join a company’s board, Watchdog Reports will often review the company to asses the company’s quality of financial disclosures.

How Much Did Honeywell's Restatement Cost Investors?

October was a tough month for Honeywell investors. After starting out the month trading over $160, Honeywell’s share price closed at $140.83 on Oct. 24.

J. Alexander’s: Steak or Fishy?

J. Alexander’s restaurants often ranks at the top of a Yelp or TripAdvisor review page. And for good reason. The steaks are excellent. The service is outstanding, and the atmosphere is relaxed.

Did GE Goose Accounting Estimates to Lay Golden Eggs?

The fall of GE is nothing short of stunning. As the Wall Street Journal reports, “[T]he stock value lost by GE in the past 12 months is twice the amount that vanished when Enron Corp. collapsed in 2001—and more than the combined market capitalization erased by the bankruptcies of Lehman Brothers and General Motors during the financial crisis. Longer term, GE’s market capitalization has fallen more than $460 billion since its 2000 peak.”

Tesla’s Unusual Red Flag

A review of Tesla’s Corporate Watchdog Report reveals a striking red flag regarding management turnover, specifically in the CFO position. The Tesla red flag for CFO turnover is recent and highly unusual. Rare, in fact.

Finding Red Flags in Earnings Reports after the Trump Tax Cut

The Tax Cut & Jobs Act law (TCJA) passed in a rush late last year is complicating how companies release their fourth quarter earnings data. The changes to the law will significantly affect earnings for most large companies, and companies took different approaches on reporting the impact.

GE Insurance Charge is $6.2 Billion, Twice What the Market Expected

General Electric (GE) stock reached a new low of $16.02 on January 19, 2018, continuing the 2017 downtrend into 2018.

Trends in Financial Restatements and Error Corrections

Accounting corrections are arguably one of the most important metrics in understanding trends in financial reporting. We can identify three distinct types of error corrections:

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Watchdog Findings is a publication based on reports created by Watchdog Research, Inc.
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