Kraft Gets Grated on Wall Street

Celestica drops; Applebee's advances; plus more of today's stocks in the news

Kraft (KFT ) posted 51 cents fourth quarter earnings per share on 4.3% higher revenue growth (pro forma). The food manufacturer sees $2.10-$2.15 2003 earnings per share. Kraft says the impact of higher pension and post retirement expenses are expected to hurt 2003 earnings per share by about seven cents a share. Merrill downgraded to neutral from buy. S&P cut to hold.

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