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.
America’s second most-hated chore is washing the dishes, according to Procter & Gamble, and to alleviate the stress of scrubbing, P&G invented Cascade Platinum Plus
Microsoft is reportedly looking to invest $10 billion in OpenAI, the parent company of ChatGPT, which would place the value of the company at $29 billion. Investors believe the new technology company could change the world as Google did.
Microsoft said it doesn't comment on rumors or speculation after Cheddar News asked for a comment about a report that the tech giant was in talks for a $10 billion investment in OpenAi.
Caleb Silver, editor-in-chief of Investopedia, joined Cheddar News to discuss playing the bond market, specifically corporate bonds and the risks involved.
Roger Cheng, executive editor of CNET, joined Cheddar News to discuss a Semafor report that Microsoft is in negotiations to invest $10 billion in OpenAI, parent company of ChatGPT.
