Here is another collection of breaking news stories which may affect companies as trading continues later.

The following companies should see some movement: Hewlett-Packard Co. (NYSE:HPQ), IBM (NYSE:IBM), Kraft Foods Inc. (NYSE:KFT).

Here is a more detailed look at the news that will affect each company when trading continues.

Hewlett-Packard Co. (NYSE:HPQ)

Hewlett-Packard Co. (NYSE:HPQ) shareholders faces may have smiled to hear that the company has authorized a $10 billion stock buyback, and that $3 billion of that could happen this quarter.

But investors shouldn’t get too excited.

Share buybacks are a mixed bag. Though they boost a stock’s EPS and investor confidence, it’s also a subtle signal that the company doesn’t want to invest in its operations, effectively making a buyback a one-time bonus for shareholders, not a good omen of a better future for the company.

IBM (NYSE:IBM)

International Business Machines Corp. (IBM) has released details of its new cutting-edge mainframe chips that can process information at record-breaking speeds, according to the company, which said it spent more than $1.5 billion on research and development for the new technology.

The chip will go into business applications which need to manage large amounts of data and transactions.

Kraft Foods Inc. (NYSE:KFT)

Kraft Foods (NYSE:KFT) announced today the kickoff of Huddle to Fight Hunger, a humanitarian aid project and marketing campaign aimed at delivering 20 million meals or more to a relief organization called Feeding America.

The campaign kickoff is being held in San Francisco, January 9, 2011 at the Kraft Hunger Bowl football event, which will feature college football teams from the WAC and the PAC-10.

There will probably be more movement when trading continues for Hewlett-Packard Co. (NYSE:HPQ), IBM (NYSE:IBM) and Kraft Foods Inc. (NYSE:KFT).