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.
Adam Coons, chief portfolio manager of Winthrop Capital Management, joined Cheddar News to discuss Wednesday's market session amid weak job market data and what lies ahead in the near-term future.
In a clash of fast casual titans, Chipotle Mexican Grill is filing a lawsuit against Sweetgreen for trademark infringement. The salad purveyor recently released a meal offering called "Chipotle Chicken Burrito Bowl," which Chipotle said is being marketed in a "very similar" way as its own products and includes many of the same ingredients.
The number of Americans applying for unemployment benefits fell this week as the labor market continues to hold up in the face of the Federal Reserve aggressive campaign to cool the economy and bring down inflation.
Wall Street is drifting amid mixed trading Thursday, threatening to send the S&P 500 to its first losing week in the last four following some discouraging reports on the economy.
The upcoming trial in a voting machine company’s defamation lawsuit against Fox News for airing false allegations of vote fraud in the 2020 presidential election will not include testimony about the Jan. 6 uprising at the U.S. Capitol, a judge ruled Wednesday.
Ted Rossman, a senior industry analyst with Bankrate.com, joined Cheddar News to provide guidance on how to raise your credit score, especially for would-be homebuyers.
Chipotle filed a lawsuit in California federal court against Sweetgreen over the salad chain's chicken burrito bowl, claiming infringement for using the word "chipotle" in the name.
