Kraft (KFT) Takes the Cheese
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Price: $42.52 --0%
EPS Growth %: +9.7%
Financial Fact:
Dividends declared: 0.13
Today's EPS Names:
REDF, REX, SNPS, More
EPS Growth %: +9.7%
Financial Fact:
Dividends declared: 0.13
Today's EPS Names:
REDF, REX, SNPS, More
Trade KFT Now!
Shares of Kraft Foods Inc. (NYSE: KFT) are up over 4 percent Friday as investors react to a host of positive developments.
First, the company reported second quarter earnings of Q2 EPS of $0.68, $0.06 better than the analyst estimate of $0.62. Revenue for the quarter came in at $13.3 billion versus the consensus estimate of $14 billion.
Second, the company set a date of October 1 to spin-off its North American grocery business.
Third, Dan Loeb's Third Point LLC has accumulated a new position in the company. It is now his funds fifth largest position. Loeb is known as a rabble-rouser and recently was credited for shaking up the management at Yahoo! (Nasdaq: YHOO), his top holding. It is unclear what Loeb could do at Kraft since the company is already breaking itself up, however investors are liking the news.
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First, the company reported second quarter earnings of Q2 EPS of $0.68, $0.06 better than the analyst estimate of $0.62. Revenue for the quarter came in at $13.3 billion versus the consensus estimate of $14 billion.
Second, the company set a date of October 1 to spin-off its North American grocery business.
Third, Dan Loeb's Third Point LLC has accumulated a new position in the company. It is now his funds fifth largest position. Loeb is known as a rabble-rouser and recently was credited for shaking up the management at Yahoo! (Nasdaq: YHOO), his top holding. It is unclear what Loeb could do at Kraft since the company is already breaking itself up, however investors are liking the news.
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