NEW YORK — Kraft Foods Inc. is spurning the New York Stock Exchange and moving its stock listing to the Nasdaq, a move the company says will cut costs as it prepares to split into two publicly traded companies.
The packaged foods maker also said Friday that Nasdaq’s billboard in the heart of Times Square will give its brands such as Oreo, Nabisco, and Cadbury greater visibility.
Kraft spokesman Michael Mitchell said the company was impressed with the advertising and brand-building Nasdaq does on behalf of its member companies. He also noted that the listing fees were ‘‘considerably less’’ for Nasdaq. The transfer to the Nasdaq will take place June 26.