Kraft Foods | featured news

This the latest portfolio update for Berkshire Hathaway. Warren Buffett continued to add to his favorite companies such as Wells Fargo and IBM, while his new managers Ted Weschler and Todd Combs bought into three new positions and added to existing positions.

The former owner of a California tomato processing company was sentenced Tuesday to six years in federal prison for engaging in a price-fixing scam that authorities said involved bribing purchasing managers at food giants including Kraft Foods Inc. and Frito-Lay.

Kraft Foods' net income rose 13 percent in the third quarter, the food maker said Wednesday, as new products and increased advertising helped it top Wall Street expectations.

UnitedHealth Group, the health insurance company, will replace Kraft Foods in the Dow Jones industrial average, the most widely known barometer of the American stock market... The change takes effect Sept. 24. S&P Dow Jones Indices, which manages the average, said it was dropping Kraft because it is about to become a much smaller company after spinning off its North American grocery business.