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.
Minnesota Attorney General Keith Ellison is slated to lead off opening statements expected for Tuesday in his state's lawsuit against Juul Labs – marking the first time any of the thousands of cases against the e-cigarette maker over its alleged marketing to young people is going to play out in a courtroom.
Neuralink, Elon Musk's brain implant venture, is reaching out to major U.S. neurosurgery centers to potentially begin testing its devices on humans, according to a Reuters report.
Lyft co-founders Logan Green and John Zimmer are relinquishing their leadership roles to make way for a former Amazon executive as the ride-hailing service struggles to recover from the pandemic while long-time rival Uber has been regaining its momentum.
The Fed's vice chair for supervision will testify Tuesday that the central bank will look into the possibility that a 2018 law contributed to SVB's collapse by allowing them to keep less cash on hand.
Tom Wheelwright, certified public accountant and CEO of Wealthability, joined Cheddar News to explain what the benefits are for married couples to either separately or jointly file taxes.
Cheddar News breaks down what to look for on The Day Ahead. Economic data, including Jan. home prices and consumer confidence, are slated to be released while the Senate Banking Committee has a hearing scheduled in the wake of the collapse of Silicon Valley Bank. Earnings from Walgreens, Lululemon and Micron are also expected.
Disney's first round of layoffs starts this week and will eventually to the loss of about 7,000 jobs after three rounds, according to a memo sent by CEO Bob Iger.
