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Kraft Cuts Third-Quarter Estimate
Kraft Foods (KFT Quote) lowered its guidance for the third quarter but maintained its full-year outlook, and the company's shares were falling slightly on the news.
The company said that because of the timing of a number of items impacting the second half, it expects to post third-quarter earnings of 45 cents to 47 cents a share.
For 2003, Kraft expects volume growth of around 2%, earnings of $2 to $2.05 a share and discretionary cash flow growth of more than 10%. ...
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