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 parent company of stores like TJ Maxx, Homegoods and Marshalls, posted mixed results in its latest quarter, prompting it to slash its outlook for the full year.
A survey says about 20% of Americans have a high-yield savings account. Preston Cherry, founder and president of Concurrent Financial Planning, joined Cheddar News to explain why it's a good time to open an account now.
The average 30-year fixed mortgage rate jumped 23 basis points from last week to 6.62 percent, the highest rate since November 2022, according to the Mortgage Bankers Association.
