UPDATE 1-US-focused stock funds worldwide post $8.5 bln outflows in week-BofA May 22- Investors worldwide pulled $8.5 billion out of funds that specialize in U.S. stocks in the week ended May 20 on appetite for cheaper share prices in Europe, data from a Bank of America Merrill Lynch Global Research report showed on Friday. Stock funds overall returned to outflows, with $600 million pulled after $1.9 billion in inflows the prior week,...
| By: Sam Forgione
UPDATE 7-Oil down more than 1 pct ahead of long U.S. Memorial Day weekend *Coming up: Baker Hughes rig count at 1700 GMT. NEW YORK, May 22- Oil fell more than 1 percent on Friday as a rallying dollar and profit-taking ahead of a long U.S. holiday weekend cut short a two-day run-up in crude prices. U.S. crude was down 95 cents at $59.77 a barrel by 11:45 a.m. EDT.
| By: Barani Krishnan
WRAPUP 2-Rising underlying inflation keeps Fed on rate hike path WASHINGTON, May 22- Rising shelter and medical care costs boosted underlying U.S. inflation pressures in April, a welcome sign for the Federal Reserve as it contemplates raising interest rates this year. The Labor Department said on Friday its Consumer Price Index, excluding food and energy, increased 0.3 percent last month. "It will give the Fed greater...
| By: Lucia Mutikani
UPDATE 1-Actavis cannot drop old version of Alzheimer's drug -appeals court NEW YORK, May 22- Actavis Plc cannot pull its top-selling Alzheimer's drug from the market in favor of a pricier extended-release version, a federal appeals court in New York ruled on Friday. The decision at the 2nd U.S. Circuit Court of Appeals is a win for New York State Attorney General Eric Schneiderman, who sued to block the switch, arguing that Actavis was...
| By: Joseph Ax and Brendan Pierson
UPDATE 3-Campbell Soup profit beats on lower promotion costs, higher prices *Q3 adjusted profit $0.62/ share vs estimate of $0.52. May 22- Packaged foods maker Campbell Soup Co on Friday reported an unexpectedly better quarterly profit, helped by lower spending on promotions, higher prices for its products and cost cuts. Shares of the company, known for its soups, Pepperidge Farm cookies and Goldfish crackers, rose about 1.5 percent.
| By: Anjali Athavaley and Sruthi Ramakrishnan
Actavis cannot drop old version of Alzheimer's drug - appeals court NEW YORK, May 22- Actavis Plc cannot pull its top-selling Alzheimer's drug from the market in favor of a pricier extended-release version, a federal appeals court ruled on Friday. A three-judge panel at the 2nd U.S. Circuit Court of Appeals in New York upheld an order by U.S. District Robert Sweet in December requiring Actavis to keep the older drug, Namenda IR, on the...
The quest to healthier snacks Tom Bilyeu, Quest Nutrition President, discusses his business strategy and mission to pushing forward healthy snacks.