Kraft Foods Inc (NYSE:KFT), Worlds biggest foods company which is splitting into two publicly traded companies later current year, is moving its stock listing to the NASDAQ OMX Group, Inc (NASDAQ:NDAQ) from the New York Stock Exchange to lower costs.
Also, the packaged foods company reported on Friday that the action would give its brands like Oreo and Cadbury better visibility.
Spokesperson of Kraft Foods Michael Mitchell reported that the listing fees were significantly less for Nasdaq. Michael Mitchell also reported that the corporation was also impressed with the advertising and brand building Nasdaq performed on behalf of its member corporations.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. J&J Snack Foods Corp. (NASDAQ:JJSF) increased +0.86% to settle at $56.06, General Mills, Inc. (NYSE:GIS) moved up +0.47% to end at $38.20 while The Hain Celestial Group, Inc. (NASDAQ:HAIN) jumped +0.65% to finish on Friday at $53.91.
Kraft Foods Inc (NYSE:KFT) on June 08, 2012 increased +0.24% to the closing price of $38.24. The overall volume in the last trading session was 8.43 million shares. Its fifty two week range was $31.88-$2.34. The total market capitalization remained $67.80 billion.
KFT is ahead its 52 week low with +21.80% and lagging behind from its 52 week high price with -4.38%. KFT last month stock price volatility remained 0.97%. In its share capital KFT has 1.77 billion outstanding shares among them 1.77 billion shares have been floated in market exchange. KFT stock institutional ownership remained 73.62% while insider ownership included 0.15%.
The stock price of KFT is moving down from its 20 days moving average with -0.51% and remote negatively from 50 days moving average with -0.49%. KFT current year earnings per share experienced an addition with +38.60% while its current quarter performance remained +1.54%. Company’s beta coefficient included 0.54. Beta factors measures the amount of market risk associated with market trade.
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