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Kraft cooks up hearty earnings

Macaroni and cheese maker Kraft Foods (KRFT) reported stronger-than-expected results and affirmed '12 guidance in its 1st report after splitting off Oct. 1 from the former Kraft Foods, now Mondelez Int'l (MDLZV). EPS climbed 13% to 79 cents per share, beating estimates by 10 cents. Revenue rose 3% to $4.61 bil, ahead of analyst forecasts. The company, whose brands include Oscar Mayer, Miracle Whip and Velveeta, expects full-year EPS of $2.60. Analysts expected $2.79. Shares fell 0.3% to 44.57.