Why ADT Stock Is Up Today
ADT (NYSE: ADT) is getting into the residential solar business, and that news alone was enough to offset a lackluster quarter. Shares of ADT traded up as much as 15% on Tuesday morning, before falling back some, on excitement about the home security company expanding its reach. As of 10:50 a.m. EST, its stock was up 12.3%.
Early Tuesday, ADT reported a third-quarter loss of $0.07 per share on revenue of $1.31 billion, beating on sales by about $20 million but falling well short of the $0.09-per-share profit analysts had been expecting. Some of that loss was attributable to the cost of converting wireless systems to newer radios due to plans by telecommunications companies to shut down old spectrum, and it should be one-time in nature.
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Source Fool.com
