Kraft ... spin-off details

Kraft Foods Inc. To Transfer Stock Listing to NASDAQ

 Excerpt:

At the time of the spin-off later this year, Kraft Foods Inc. will change its name to Mondelez International, Inc., and the company's common stock will trade under the symbol MDLZ. Concurrently, the North American grocery business will be spun off to form a new company, Kraft Foods Group, Inc., whose common stock will trade under the symbol KRFT. The symbol KFT will be retired at that time.

Comment: On "Mondelez" = "delicious world" but some people find the name offensive.

Kraft reports ... falls

Kraft Foods Q3 Profit Falls on Higher Costs; Sales Jump (KFT)

Excerpt:

Packaged foods giant Kraft Foods Inc. (KFT) late Thursday said its third quarter profit fell 8.5% from last year, despite higher revenue, as higher materials costs weighed on results.

The Northfield, IL-based company reported third quarter net income of $754 million, or 43 cents per share, or 47 cents per share on an adjusted basis. On average, Wall Street analysts expected a smaller profit of 45 cents per share.

Sales surged 26% from last year to $11.9 billion, mainly helped by the company’s recent acquisition of candy maker Cadbury.

Looking ahead, the company reiterated its full-year 2010 earnings forecast of $2 per share.

Kraft Foods shares fell 49 cents, or -1.5%, in premarket trading Friday.

Comment: I bought it at $ 28.73 / now trading at $ 30.80. I still regard it (KFT) as a good dividend paying stock. I am holding.