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.
New York Attorney General Letitia James is ramping up a civil investigation into The Trump Organization. The AG's office has subpoenaed Ivanka Trump and Donald Trump Jr. They have refused to comply with the subpoenas. Bradley Moss, national security attorney, joins Cheddar News to discuss the next steps in this investigation.
LG announced its latest cooking appliances including its ThinQ Recipe service. The app allows people to choose from up to 10,000 recipes and have the ingredients delivered to their doorstep. LG Electronics executive Brandt Varner joins Cheddar News to talk about the products.
The six-month trial of Theranos founder Elizabeth Holmes has come to an end with the former tech startup star found guilty of four out of 11 counts of fraud. Michael S. Weinstein, Esq, chair of the white collar criminal defense practice at Cole Schotz, and former Department of Justice trial attorney, joined Cheddar News Wrap to discuss what happens next for the former mogul. "Do I think it's going to be more than five or seven years? Probably yes. I think that's probably a fair range at this point," he said about her potential prison sentence.
Conor Cunningham, executive director at MKM Partners, breaks down how airlines are navigating COVID-19 outbreaks and highlights the growth spots within the travel industry.
President Biden will sit down with farmers today, looking to ease supply chain issues in the meat industry. The administration aims to combat the impact corporate consolidation has had on rising prices for consumers and lower earnings for farmers and ranchers. President Biden plans to leverage $1 billion to eliminate this bottleneck, along with helping slow price increases and boosting farmers' earnings. Chloe Demrovsky, president and CEO of Disaster Recovery Institute International, explains the struggles that the meat industry is facing ahead of the meeting.
Elon Musk continues on his path to make a reusable rocket with his starship project, but it's not going to be easy. If successful, the rocket would heavily reduce launch costs, in addition to further developing Starlink, Musk’s satellite-based internet service. Rick Tumlinson, founding partner at Space Fund, spoke to Cheddar News about the future of SpaceX.
Kevin Book, Managing Director at Clearview Energy Partners, breaks down the factors that impact the price of gas and what this means for renewable energy initiatives.
