Home security company ADT made its NYSE debut. After pricing at $14 a share, the stock opened for trading at $12.65. Tim Whall, CEO at ADT, joined us on set to explain why investors should be excited about the opportunity to invest in ADT.
The original range for pricing of the IPO was $17-$19 a share. Despite the weaker-than-expected demand for the stock, the company still raised about $1.5 billion. The CEO said ADT will use the money to pay down debt and grow subscriber base. ADT has a debt burden of about $10 billion.
In a regulatory filing, ADT revealed it had been losing customers. Whall shares how the company is innovating in-home security in order to avoid customer churn and attract new consumers. The company recently announced plans to integrate its products with Google Assistant voice controls sometime this spring.
Delta Air Lines reported a $363 million loss for the first quarter on Thursday, with higher spending on labor and fuel overshadowing a sharp rise in revenue.
Stocks closed lower on Wall Street Friday as worries about interest rates offset an encouraging start to earnings reporting season for big U.S. companies.
Cheddar News takes a look at The Day Ahead as a slate of earnings is due to be reported from some of the country's biggest banks, including JPMorgan, PNC, Wells Fargo and Citigroup. March retail sales are also on tap to be released.
Folks are starting to book summer travel despite inflation concerns. Hayley Berg, chief economist at online travel agency Hopper, joined Cheddar News to provide tips on how to save when planning your trip.
Cheddar News is highlighting companies with a focus on sustainability for Earth Month. Ashley Allen, chief sustainability officer with Oatly, joined Cheddar News to discuss her company's mission to deliver products that have a minimal environmental impact. "We want to make it easy for people to eat better and live healthier lives without recklessly taxing the planet's resources," she said.
Anthony Saccaro, founder and president of Providence Financial, joined Cheddar News to discuss Thursday's trading session as stocks and indexes showed positive gains following some economic data but fears of a recession continue to grow.
