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FedEx (FDX) Stock Gains, Investing $1.5 Billion in French Package Facility

NEW YORK (TheStreet) -- Shares of FedEx (FDX) were up in pre-market trading on Tuesday as the package delivery company plans to invest $1.5 billion to double its logistics capacity at the Charles de Gaulle Int'l Airport in France, Reuters reports.

The company's initial investment of $220 million will go toward expanding FedEx's facility at the airport. The remainder will cover rent at the facility for 30 years.

The Memphis-based company will open a new package sorting facility in 2019 and hire between 200 and 400 new...