THE BOTTOME LINE: Kraft Foods Inc. said its first-quarter net income rose 1.8 percent, boosted by higher prices and stronger sales in developing markets.
THE NUMBERS: The maker of Nabisco, Velveeta, Miracle Whip and other packaged foods says it earned $813 million, or 46 cents per share, up from $799 million, or 45 cents per share, a year earlier.
THE BIG PICTURE: Kraft is preparing to split into two publicly traded companies later this year. One will focus on its international snack brands like Cadbury. The other will concentrate on its North American grocery business, which includes Oscar Mayer meats.