On tonight’s MAD MONEY on CNBC, Jim Cramer has gone out with an activist investor pick on Kraft Foods Inc. (NYSE:KFT).  He said he has been negative on the stock for too long.  Cramer also noted that professionals are piggy-backing off of top activist investors Norman Peltz and Carl Icahn, so there is no reason you can’t too.  This is a situation that he hopes the CEO will actually embrace the activist holders, but thinks you can make money off this either way now that shares have pulled back since it came public that Icahn and Peltz are both shareholders.  A divestiture or other action was noted as the would-be the method of unlocking value.

Jon C. Ogg
July 17, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.