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.