Packaged foods maker Kraft Foods likes to stay up on the trends. Therefore, Kraft is following in line with the likes of this year's trendsetters, including Mattel (MAT), RC2 (RCRC), and Jo-Ann Stores (JAS) in announcing the recall of Baker's Premium White Chocolate Baking Squares in the U.S.
The product is recalled due to concerns that the chocolate may be contaminated with Salmonella bacteria. Effected packages have the UPC Code 0043000252200 and 4 best-when-used-by dates, including March 31 and April 1-3, 2008. Contamination was noted after testing by the FDA detected the presence of Salmonella in some packages of the chocolate.
The company's stock sunk below its 10-day moving average earlier this week. Shares have remained fairly steady around the 34.30 level, slightly above its 20-day moving average. The stock has been struggling around its 50% resistance level from its June peak ($37.20) to its August low ($30.50).
Shareholders don't seem to be too worried, though, as Kraft shares are currently at $34.26, down 0.08%.