In a filing with the regulator, Kraft Foods Inc. (KFT) disclosed that its subsidiaries, on March 1, 2010, completed the sale of the assets of frozen pizza products and certain related frozen food products business to Nestle USA, Inc.
Kraft specified that it expects earnings to be reduced by approximately $0.05 per diluted share on an annual basis as a result of this transaction, also assuming combination of debt reduction and share repurchases.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.