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.
The makers of Toblerone are stripping images of Switzerland's famed Matterhorn and the Swiss flag from the packaging of the milk-chocolate treat as they move some production to Slovakia.
Cheddar News looks ahead to Tuesday as Fed Chair Jerome Powell will testify on Capitol Hill about the central bank's response to inflation. Earnings are also on tap from Dick's Sporting Goods, Stitch Fix and Crowdstrike.
Mark Steber, chief tax information officer at Jackson Hewitt Tax Services, joined Cheddar News to explain what common red flags to look out for that could trigger tax audits.
