KIM-PM — KIMCO REALTY CORP
- Added disclosure of December 31, 2025 expiration of prohibited transaction safe harbor, creating new tax uncertainty and potential compliance risk post-2025.
Filings Radar
SEC 8-K and 6-K filings classified by Claude with reasoning, plus Form 4 insider transactions. Ingested from EDGAR’s filing stream in near-real time, reconciled overnight.
Risk Radar
Tracking 429 companies · 363 with company-specific changes
Companies whose 10-K Risk Factors surfaced company-specific changes year over year, newest first. The common-mode boilerplate that the whole market discloses is filtered out. Open a company for the full detail. Not investment advice.
EXR — Extra Space Storage Inc.
- Bridge loan program increased 25% ($1.2B to $1.5B). Total debt securities rose 12.5% ($1.6B to $1.8B). Increased exposure to credit risk.
- Joint venture store count declined 13% (469 to 407 stores), signaling reduced strategic footprint or failed ventures. Substantive contraction in material asset base.
CDW — CDW Corp
- Removal of detailed covenant restrictions and default acceleration risk indicates material improvement in debt flexibility and financial stability.
- Removal of $635M variable rate debt exposure eliminates material interest rate risk. Suggests debt refinancing or paydown materially reduced exposure.
LYB — LyondellBasell Industries N.V.
- Impairment charges escalated significantly: $837M in 2024 to $1,182M in Q3 2025, plus new $126M facility closure. Worsening trend.
- Strategic review shifted to concrete divestiture agreement of European olefins/polyolefins assets across four countries, closing Q2 2026. Escalates from hypothetical to committed transaction with execution risk.
ABBV — AbbVie Inc.
- Humira removed from major products list; revenue concentration decreased from 47% to 42%. Reflects biosimilar competition impact already realized, reducing forward-looking risk.
- New disclosure of material PBM/intermediary pricing and access control risk. Identifies specific mechanisms (formulary exclusions, step therapy, rebates) that could reduce revenues and shift market share to competitors.
CBOE — Cboe Global Markets, Inc.
- New disclosure of intermarket dependencies and November 2025 CME data-center disruption illustrating systemic risk across multiple markets and products.
- Added specific operational risk: extended outages at third parties (technology failures, data center issues, cyberattacks) could impair index calculation and trading operations. Concrete 2025 example strengthens materiality.
KO — COCA COLA CO
- Added disclosure of 10% revenue concentration with single bottler and expanded risk scope to include reputational/brand damage from bottler actions.
- Added specific disclosure of government focus on childhood chronic diseases and new risk of SNAP restrictions—concrete regulatory threats beyond prior boilerplate.
ABT — ABBOTT LABORATORIES
- Abbott plans $20B additional borrowing for Exact Sciences acquisition, materially increasing leverage and refinancing risk despite current debt declining to $12.9B.
MRNA — Moderna, Inc.
- New disclosure of covenant compliance risk with Ares-led credit facility. Default could trigger acceleration, asset liquidation, and potential inability to repay—material financial and going-concern risk.
- New disclosure of 2025 regulatory changes at FDA/CDC impacting policies, post-marketing commitments, and costs. Escalates regulatory risk beyond prior year's general uncertainty.
EFX — EQUIFAX INC
- Added new risk: insourcing/transitioning to domestic vendors could cause significant costs and adversely impact operations. Broadened geopolitical risk scope beyond developing countries.
HUM — HUMANA INC
- Added concrete example of Change Healthcare February 2024 incident affecting company operations, demonstrating realized cybersecurity risk materialized in supply chain.
- Court vacated Final RADV Rule on APA grounds; government appealing. Materially reduces near-term regulatory risk despite pending appeal.
SHW — SHERWIN WILLIAMS CO
- New disclosure of material $525M Suvinil acquisition completed October 2025 and integration risk. Substantive M&A event requiring investor attention.
- Debt increased $982.9M year-over-year (vs. $37.5M prior year), a 26x acceleration. New language added about limiting shareholder returns (dividends/buybacks), escalating leverage concerns.
SOMN — SOUTHERN CO
- New disclosure that 2030 GHG goal is "extremely challenging" to meet due to projected load growth; removes prior SEC rule litigation risk language; adds fossil fuel reputational risk.
- Pace and extent of construction program increased in response to projected demand growth; new battery storage capex added; pre-approval engineering costs and cancellation risk explicitly disclosed.
STT-PG — STATE STREET CORP
- Company now explicitly discloses being named as defendant in antitrust litigation by multiple state Attorneys General regarding coal industry practices—a material escalation from prior year's generic regulatory scrutiny language.
CDNS — CADENCE DESIGN SYSTEMS INC
- Settlement of export control violations with $140.6M penalties, guilty plea, three-year probation, and ongoing compliance obligations materially worsen regulatory risk and restrict M&A and government contracting.
- New disclosure of material operational dependency: company relies on third-party data centers for cloud infrastructure with no redundancy mentioned. Service disruption could impair customer access, damage reputation, and cause customer loss.
TSCO — TRACTOR SUPPLY CO /DE/
- Added explicit disclosure of animal health products, pet pharmacy regulations, and food/drug safety standards—new regulatory exposure areas not previously mentioned.
COF-PN — CAPITAL ONE FINANCIAL CORP
- Material M&A transaction risk removed. Removal indicates transaction completed or abandoned, eliminating contingency and regulatory approval risks previously disclosed.
- Transaction shifted from pending to post-close integration phase. New risks added: management distraction, employee attrition, integration difficulties. Discover acquisition now operational risk.
PWR — QUANTA SERVICES, INC.
- Unapproved change orders and claims increased 34% year-over-year from $733.6M to $983.6M, indicating escalating contract recovery risk and working capital exposure.
- Long-term debt increased 27% ($4.10B to $5.23B) while undrawn capacity decreased 7% ($2.61B to $2.42B), materially worsening leverage and liquidity position.
EBAY — EBAY INC
- Newly disclosed material risk: substantial regulatory, operational, and third-party risks from payments/financial services expansion. Covers licensing, compliance failures, service provider dependencies, and potential business suspension.
- New disclosure of material operational and financial risks: buyer/seller protection program costs, litigation exposure, regulatory risk, chargebacks, and authentication failures directly impact profitability and platform trust.
LKQ — LKQ CORP
- Newly disclosed strategic review including potential sale of company. Creates material uncertainty affecting stock/debt prices, management focus, employee retention, customer relationships, debt acceleration risk, and substantial transaction costs.
- New October 2025 breach disclosed: unauthorized access to Oracle iReceivables with customer, supplier, and employee records downloaded. Pattern of incidents escalates risk perception.
MET-PF — METLIFE INC
- Added specific competitive threats: fee compression, shift to passive products, asset manager competition, and talent competition. These represent newly articulated business risks.
- Added investment systems risk, regulatory fines, client reimbursement obligations, and key personnel loss impact on investment performance and competitiveness.
CNP — CENTERPOINT ENERGY INC
- June 2025 law restricts TEEEF to ≤5 MW units, eliminating large units (91% of portfolio). Escalates regulatory risk and operational constraints materially.
- Removal of detailed tariff and trade restriction risk affecting solar panel supply chain. Company previously disclosed material supply constraints and project delays; removal suggests risk has eased or been resolved.
NEMCL — NEWMONT Corp /DE/
- New disclosure of January 2026 notice of default against Barrick for alleged mismanagement and resource diversion at NGM joint venture, a material asset.
- New disclosure of Q3 2025 workforce reduction and restructuring plan with severance and consulting costs. Material operational change with execution risk.
TER — TERADYNE, INC
- Customer concentration materially worsened. Top 5 customers increased from 36% to 44% of revenues. New disclosure: one customer now represents 19% of revenues, and two customers each exceed 10%—a significant concentration escalation.
- Company borrowed $250M in Q3-Q4 2025 versus zero outstanding debt prior year. Increased leverage and debt service obligations represent material change in capital structure and financial risk.
MLM — MARTIN MARIETTA MATERIALS INC
- New disclosure of pricing pressure risk in aggregates business. Identifies specific mechanisms (demand shifts, capacity, mix deterioration, cost pass-through limits) that could compress margins, impair assets, and threaten covenant compliance—material operational and financial risks.
- Removal reflects completed divestiture of 20 concrete plants in Texas, reducing exposure to volatile low-margin operations. Material strategic action.
TRGP — Targa Resources Corp.
- CAMT risk materially eased: prior year stated company "likely to become" applicable corporation "as early as 2026"; this year states "do not anticipate paying CAMT in near term," reflecting changed tax outlook.
LYV — Live Nation Entertainment, Inc.
- New FTC lawsuit alleging deceptive ticketing practices filed September 2025, plus escalation of DOJ case to late stages with trial scheduled March 2026. Material litigation expansion.
- International revenue exposure increased from 38% to 43%, amplifying currency risk. FX volatility persists with $10.7M gain in 2025 vs. $52.4M loss in 2024.
NXPI — NXP Semiconductors N.V.
- Company now explicitly discloses software-enabled products and software defect risks, expanding product liability exposure beyond hardware semiconductors to include software vulnerabilities and updates.
- New disclosure of government approval risk for acquisitions. Prior year omitted regulatory delay/denial risk; now explicitly flagged as material M&A impediment.
INVH — Invitation Homes Inc.
- New disclosure of material dependence on single dominant third-party platform for lead generation. Identifies concrete operational and financial risks: pricing changes, algorithm shifts, service disruptions could materially reduce leasing activity and occupancy.
- Material new business line via ResiBuilt acquisition. Discloses substantial operational, execution, integration, and capital risks to growth strategy and cash flows.
EVRG — Evergy, Inc.
- New disclosure of material demand risk: Evergy's capital plans depend on sustained data center/AI load growth. Failure to materialize could impair returns on significant infrastructure investments.
- New disclosure of risk that large load customers' anticipated demand may not materialize or sustain as projected—a material revenue/demand risk.
TAP-A — MOLSON COORS BEVERAGE CO
- Material $3.6B goodwill impairment of Americas unit in Q3 2025, plus $274M additional brand impairments. Goodwill remaining dropped from $5.6B to $1.9B, escalating impairment risk.
- Newly disclosed material restructuring: announced October 2025 Americas plan eliminating salaried positions, with quantifiable severance costs, operational disruption risk, and uncertain benefit realization.
EQT — EQT Corp
- Lease expiration risk decreased: undeveloped acres at risk fell from 6% to 5%, and 2025 impairment charges dropped 47% to $51.2M from $97.4M prior year.
- Negotiated rate contract exposure decreased from 99% to 95% of transmission capacity, reducing fixed-price margin compression risk.
AEE — AMEREN CORP
- Revenue requirement cap reduced from 2.5% to 2.25%, tightening capital investment constraints and recovery limitations for Ameren Missouri's electric service business.
- Capital expenditure estimates increased 21% ($27.4B to $33.1B). New risks disclosed: MISO capacity accreditation rule changes, federal fossil fuel policy shift creating renewable energy uncertainty, natural gas supply agreement risks.
FE — FIRSTENERGY CORP
- HB 6 state regulatory investigations removed from risk factor heading and discussion. DPA obligations completed July 2024. Litigation focus narrowed to securities class action only.
- New specific regulatory risks added: Ohio SB 2 (2025), NJ Executive Order (2026), AI data center interconnection rules, and PJM capacity auction price collar extending through 2030 with potential backstop auction. These create material new uncertainties around rate recovery and cost allocation.
RSG — REPUBLIC SERVICES, INC.
- Language shifted from "may be subject" to "are periodically subject" and added explicit 2025 strike disclosure, escalating from hypothetical to realized risk.
- Canada eliminated fuel charge but finalized binding landfill methane regulations requiring 42% emissions reduction by 2030, creating new material compliance costs and capital requirements.
PFG — PRINCIPAL FINANCIAL GROUP INC
- Significantly expanded disclosure of ERISA fiduciary duties, compliance costs, operational risks, and regulatory change impacts. New detail on penalties, conflicts of interest, and business practice modifications materially elevates regulatory risk profile.
- New disclosure of regulatory dividend restrictions on Principal Life that could impair parent's ability to pay dividends, repurchase shares, and meet obligations—a material liquidity constraint.
PODD — INSULET CORP
- New disclosure of specific Section 232 investigation into medical device tariffs with potential to override current exemptions, directly threatening supply chain costs and margins.
- Removal of convertible notes dilution risk indicates notes were retired, redeemed, or converted. Material reduction in capital structure risk and shareholder dilution exposure.
GRMN — GARMIN LTD
- Risk escalated from prospective concern to realized problem: auto OEM segment now demonstrably unprofitable with revenue/gross profit insufficient to cover costs, materially adversely affecting results.
- New disclosure of actual/anticipated attacks causing increasing costs for personnel, technologies, training, and consultants. Escalates from general risk to quantified operational impact.
DVN — DEVON ENERGY CORP/DE
- New material merger risk: integration failure could prevent synergy realization, cause employee/customer loss, trigger contract terminations, and delay dividend increases.
- New disclosure of material M&A risk: $865M termination fee, deal failure risk, management distraction, and market/operational disruption if merger does not close.
PCAR — PACCAR INC
- ACT regulation authority revoked by Congress/President, reducing regulatory burden. Pending litigation creates uncertainty, but revocation materially eases compliance risk.