The following is a round-up of news likely to affect stock prices today:
Kraft Foods (KFT) said fourth-quarter profit more than tripled to $710 million, or 48 cents a share, as business improved in developing markets on price hikes and volume growth. Revenue rose 3% to $11.03 billion. Kraft beat earnings estimates of 45 cents per share, but revenue was lower than the $11.07 expected. Kraft expects comparable sales growth of 4% or more and long-term earnings growth at the high-end of its previous guidance. Shares declined 1.2% ahead of the bell.