Tuesday, November 4, 2008

Brink's Home Security shares tumble on first day of spinoff

Shares of Brink's Home Security Holdings Inc. (NYSE: CFL) fell Monday, its first day of solo trading on after spinning off from Brink's Co.

Shares of Brink's Home Security fell $2.28, roughly 10.5%, to $19.47. The high for the day was $22.29.

It's former parent company, however, fared well. Brink's Co. (NYSE: BCO) gained 60 cents, or 2.2%, to close at $27.34 in regular trading Monday.

Brinks Home Security's competitor Protection One (NASDAQ: PONE) fell 3.27% yesterday to end the day at $7.11.

By the way...Want to know what the "CFL" stands for? "Customers for Life." Sweet.

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