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Stock Alert: FedEx Up 5% After Signing Multi-Year Deal With Adobe

Shares of American delivery company FedEx Corp (FDX) are trading up 5 percent on Tuesday on news of the company announcing a multi-year collaboration with software company Adobe Inc. (ADBE), beginning with the integration of e-commerce platform ShopRunner, a FedEx Services subsidiary, with Adobe Commerce.

With the integration, Adobe merchants expect to gain easy access to FedEx post-purchase logistics skills, which will be helpful to increase demand, bring down costs and get an in-depth knowledge as to what the customer requires.

FDX was trading at $289.56, up $13.80 or 5 percent on the NYSE.

The stock has traded between $103.40 and $305.66 in the past 52-weeks.

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