Kraft Foods unveiled a four-part plan on Tuesday that calls for making its products more enticing to consumers, and cutting costs as it tries to boost lagging sales and profits.
It's a stock-watcher's cliché to call Altria shares "smoking" -- but don't tell that to Bonnie Herzog. She's a beverage and tobacco analyst at Citigroup, and she says the company formerly known as Philip Morris is, yes, on fire.
Fourth-quarter earnings of $1.27 outpaced a Thomson Financial consensus estimate of $1.22 a share in the fourth quarter. Last year, Altria earned $1.17 a share.
The world's second-largest food company behind Nestle said progress from its turnaround effort is not yet sufficient, but it will still be some time before investors learn of its strategy.
Altria shareholders will receive 0.7 share of Kraft for every Altria share held. Shareholders will receive cash in lieu of fractional shares for amounts less than one Kraft share. The exact distribution ratio will be determined on the record date.
Altria Group's plan to spin off its Kraft Foods unit is likely to be challenged by at least one plaintiff's attorney representing smokers, which could delay and complicate the transaction.
Kraft Foods agreed to sell 114-year-old hot cereal brand Cream of Wheat to B&G Foods in a $200 million deal.
As we've reported--New York became the first city in the U.S. to ban trans-fats in restaurant food. But the ban will affect companies with a reach far beyond the Five Boroughs. Wendy’s International, McDonald’s, Kraft and Kellogg will all have to adjust as a result – at least in the near term – at the expense of their P&L sheets.
NASCAR ain’t just whistling Dixie: It’s alive and kicking all over America. CNBC’s Darren Rovell proved it in Times Square, where he spoke to some of the racing association’s biggest names. Top drivers toured New York City streets for the fourth straight year, garnering applause while reconfirming the auto sport’s rising popularity beyond its Southern roots.