Kraft - News

Ticker Symbol: KFT

Kraft News - Past

Q1 net income rose to $622 million, or $0.45/share (Beating analyst expectations by 5 cents), up from $601 million in the same quarter last year. Operating income climbed 8.9% in developing nations, offering up strong global diversification. Revenues of $9.4 billion did come up shy of Wall Street's forecasts. Dramatic cost cutting measures - market/admin/research costs were reduced to $1.99 billion from $2.13 billion - were the primary reason for Kraft's first earnings beat since June of 2008. Kraft forecasts annual growth of 8% over the next five years.

Kraft News - Upcoming

On May 20th, Kraft holds its annual shareholder meeting. Kraft CEO Irene B. Rosenfeld is seeking affirmation by shareholders for recommended director nominees as well as a rejection of a shareholder proposal calling for an amendment to by laws reducing the requirement from 20% to 10% to call for special meetings.

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