Kraft Spinoff to Join S&P 500

Investors in Kraft Foods Inc. (Nasdaq: KFT  ) will see some big changes next week. The spinoff of its North American grocery business, Kraft Foods Group (Nasdaq: KRFTV  ) , will join the S&P 500 Tuesday. Meanwhile, Kraft Food Inc. will officially change its name to Mondelez International and be re-tickered under "MDLZ." It will remain in the S&P 500.

Post-spinoff, current Kraft Foods Inc. shareholders will own 1 share of MDLZ and 0.33 shares of KRFTV for each KFT share they now own. Kraft Foods Group replaces coal producer Alpha Natural Resources on the S&P 500 list. Alpha is moving to the S&P MidCap 400.  

Fool contributor Justin Loiseau has no material interest in any companies mentioned in this article, but he does enjoy eating Oreos. You can follow Justin on Twitter, @TMFJLo, and on Motley Fool CAPS, @TMFJLo.

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