Chicago Tribune story pushing my thesis on Kraft and acquisitions.
ConAgra Foods, Inc., (NYSE: CAG - $25.67) expects to report higher-than-projected earnings per share for fiscal 2007. ConAgra expects fiscal 2007 earnings per share to be above the high end of the $1.28-$1.33 range it had previously announced. The consensus is $1.34. Right now, Kraft Foods (KFT - $30.55) shares are being sold off by Altria (MO) {aka Phillip Morris Tobacco Giant} shareholders who don't need them in their portfolios. But preferring tobacco to food is a temporary phenomena. Watch out for a hungry Kraft Foods gobbling up some rivals and new brands.
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