Stocks – Cincinatti Bell, JD.Com, Tesla Rise in Premarket

Investing.com — Stocks to watch in premarket trade on Monday, 23rd December. Please refresh for updates.

• Tesla (NASDAQ:) rose 1.8% after reports that it secured $1.4 billion in financing from Chinese banks for its planned Shanghai factory.
• Fiber network operator Cincinnati Bell (NYSE:) rose 34% after agreeing to be bought by Brookfield Infrastructure Partners (NYSE:) for $2.6 billion, or $10.50 a share.
• “This investment represents an opportunity… to acquire a great franchise and leading fiber network operator in North America,” said BIP CEO Sam Pollock.
• ADRs in Chinese e-commerce company JD.com rose 2.1% after Reuters reported that the company is looking at the possibility of an IPO for its logistics subsidiary, eyeing a valuation of at least $30 billion.
• The IPO, tentatively slated for the first half of next year, would raise between $8 billion and $10 billion, Reuters sources said.
• JD.com spun off its logistics unit into a standalone entity in 2017, before opening up the unit’s delivery and warehousing services to third parties.
• • Aurora Cannabis Inc (NYSE:) fell 2.2% after saying it would rein in its planned expansion to conserve liquidity and cuts its short-term debt.
  • It said it has enough capacity to meet demand in the short term and said previously-announced deferral of building activity will conserve some $200 million in cash.
  • “The company expects to have the flexibility to ramp up projects as global demand dictates,” it said.

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