Kraft (KFT) to Replace AIG in DJIA; Stock Jumps 2%
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Shares of Kraft Foods (NYSE: KFT) are seeing upside this morning as Dow Jones announces that Kraft will replace AIG (NYSE: AIG) in the Dow Jones Industrial Average on September 22. The stock most recently traded at $33.34, up about $0.70, or 2% from yesterday's close.
Warren Buffett's Berkshire Hathaway is currently the largest shareholder of Kraft, holding over $4 billion, or about 138 million shares, of the stock at the quarter ended June 30. Another hedge fund billionaire, Nelson Peltz, Chairman of Triarc, currently holds more than $1 billion, or about 31 million shares of Kraft, making it his funds largest position.
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Kraft Foods, Inc., together with its subsidiaries, engages in the manufacture and marketing of packaged foods and beverages worldwide.
Warren Buffett's Berkshire Hathaway is currently the largest shareholder of Kraft, holding over $4 billion, or about 138 million shares, of the stock at the quarter ended June 30. Another hedge fund billionaire, Nelson Peltz, Chairman of Triarc, currently holds more than $1 billion, or about 31 million shares of Kraft, making it his funds largest position.
Stay tuned to StreetInsider.com's Entities page to receive the latest news on all of your favorite hedge fund managers!
Kraft Foods, Inc., together with its subsidiaries, engages in the manufacture and marketing of packaged foods and beverages worldwide.
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