Ed Kalecki

Congresswoman Nicole Meliotakis talked about it on Bloomberg's Balance of Power.

New York Congresswoman Nicole Meliotakis.

Abbott Laboratories was told by a jury to pay $70 million for claims by four mothers that the company hid the fact its premature infant formula can cause a bowel disease dangerous to frail babies.

Jurors in state court in Chicago found Abbott liable over claims that the company knew premature babies could develop necrotizing enterocolitis, or NEC, by ingesting the company's cow milk-based formula but continued to market the product to hospital intensive care units.

After awarding the mothers $53 million in compensation for their losses Thursday, the jury on Friday imposed $17 million in punitive damages on Abbott.

Company shares fell about 2.4% at the close of trading Friday in New York.

The stock is down 20% for the year.

After two rounds of the Masters, Rory McIlroy 7-under for the day Friday, 12-under for the tournament.

He heads into Saturday's third round with a six-shot lead.

The Friday numbers on Wall Street, the Dow dropped 269, Nasdaq gained 80, the S&P lost 7.

The 10-year Treasury yield 4.31%, the two-year 3.79%.

Checking Oil, West Texas Intermediate,

95.81% down 2%.

Brent crude at 94.33% down 1.5%.

That's news when you want it with Bloomberg News Now.

I'm Ed Kalecki.

This is Bloomberg.

Today's show is brought to you by Vanguard.

To all the financial advisors listening, let's talk bonds for a minute.

Capturing value and fixed income is not easy.