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

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© Reuters. © Reuters. — 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 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.
  • 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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