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 employees, according to a document from French President Francois Hollande, Reuters notes.
The 25,000-square meter facility will make the Charles de Gaulle center FedEx's second largest globally behind its facilities in Memphis.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "buy" with a ratings score of B+.
The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, growth in earnings per share, notable return on equity and solid stock price performance. We feel its strengths outweigh the fact that the company shows low profit margins.
You can view the full analysis from the report here: FDX