Also . . .

* Fidelity Investments mutual fund group cut its stake in RJR Nabisco Holdings Corp. almost in half to 6.75% during the first quarter of the year, according to a regulatory filing. Fidelity told the Securities and Exchange Commission that its mutual funds sold about 17.24 million common shares with a market value of almost $500 million. It previously held 12.1% of the tobacco and food company.

* Excel Communications Inc. said President and Chief Operating Officer John McLaine, 48, resigned to spend more time with his family. The long-distance company said Chief Executive Kenny Troutt, 50, will reassume the president’s position and the COO post will be eliminated.

* Federal Express Corp., a unit of FDX Corp., plans to build a $300-million air hub and package-sorting facility in Greensboro, N.C. FDX received $272.3 million in incentives from state and local authorities for the hub, which it would begin to construct in 2000 for opening in 2003.