Altria Group Inc, majority owner of Kraft Foods and cigarette maker Marlboro

New York - Altria Group Inc, majority owner of Kraft Foods and cigarette maker Marlboro, on Thursday canceled the 2006 financial forecast reflects a $ 1 billion in tax benefits and have just announced the sale of Milk-Bone PET Kraft brands of food. Altria projected 2006 earnings of $ 5.25 and $ 5.35 per share, compared with the previous range of $ 4.85 to $ 4.95 per share. The company owns the Philip Morris tobacco business and 87 per cent stake in Kraft. $ 1 billion non-cash gain related to the reversal of tax reserves for the Internal Revenue Service considered Altria's tax returns from 1996 to 1999. Altria announced that it will record the transaction in the first quarter.