Shares of ADT Corp., employer of nearly 900 at ADT Security Services Inc. in the Rochester market, were up nearly $2 Tuesday compared with its $36 opening Monday as a publicly traded company.
The stock (Nasdaq: ADT), was trading in the $37.90 range mid-afternoon Tuesday. It is included in the Standard & Poor’s 500-stock index.
ADT became a public company Monday after the completion of its spinoff from Tyco International Ltd. on Friday.
“The launch of ADT as an independent company is a great moment for our employees, and it marks an exciting milestone in our proud history,” CEO Naren Gursahaney said in a statement Monday.
Shares were as low as $35.44 in early trading Monday before bouncing back and closing at $37.10, up 3 percent for the day.
(c) 2012 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email email@example.com.