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The manager of a morgue at Harvard Medical School has been charged with selling body parts from donated cadavers and allowing buyers to come to the morgue to choose which parts they wanted, federal prosecutors said on Wednesday. Prosecutors said that the manager, Cedric Lodge, 55, and his wife, Denise Lodge, 63, both of Goffstown, N.H., and three others had been indicted by a federal grand jury in Pennsylvania on charges of conspiracy and interstate transport of stolen goods. A sixth person, Jeremy Pauley, 41, of Bloomsburg, Pa., was charged separately, prosecutors said. A seventh, Candace Chapman Scott, of Little Rock, Ark., was previously indicted in Arkansas, prosecutors said. The defendants were all part of a nationwide network that bought and sold human remains stolen from Harvard Medical School and a mortuary in Little Rock where Ms. Scott worked, prosecutors said.
Persons: Cedric Lodge, Denise Lodge, Jeremy Pauley, Candace Chapman Scott, Scott Organizations: Harvard Medical, Wednesday, Prosecutors, Harvard Medical School Locations: Pennsylvania, Bloomsburg, Pa, Arkansas, Little Rock
Ark Invest's Cathie Wood built a sizable stake in Meta Platforms Monday after the innovation investor missed out on the recent rally in artificial intelligence winner Nvidia . Wood snapped up 150,459 shares of the Facebook parent for her flagship ARK Innovation ETF in the previous session. META YTD mountain Meta Platforms Meta has been a popular tech and AI play for hedge fund investors, including David Tepper, Daniel Sundheim and Philippe Laffont. Meta recently announced AI computer chips, which will power more advanced metaverse-related tasks, such as virtual reality and augmented reality, as well as generative AI. Wood revealed that her reason for dumping Nvidia was its high valuation as the stock was "priced ahead of the curve."
Persons: Wood, David Tepper, Daniel Sundheim, Philippe Laffont, Meta Organizations: Nvidia, Tesla, Taiwan Semiconductor, ARK Autonomous Technology & Robotics Locations: ARKK
Tesla owners have previously enjoyed sole access to the company's charging stations. Tesla owners probably won't be very happy that the EV maker is opening up its Supercharger network to outsiders. Tesla's Supercharger network is comprised of some 7,000 locations in North America, according to the Department of Energy. But allowing other car owners to use the network may also eventually benefit Tesla owners, too. How do you feel about Tesla allowing other EV owners to use the Supercharger network?
Persons: Tesla, Craig Irwin, you've, Irwin isn't, Gene Munster, Cathie Wood, Wood, CThompson Organizations: General Motors, Ford, Morning, Detroit automaker, GM, Roth Capital Partners, Yahoo Finance, Deepwater Asset Management, CNBC, Department of Energy, Ark Invest Locations: North America
Tesla will let Ford and GM access its Supercharger network starting in 2024. Tesla is beginning to show just how much potential its technology and infrastructure really have. Starting in 2024, both automakers will be able to give their customers access to Tesla's expansive charging network with adapters. But this may just be the beginning of Tesla starting to cash in on its proprietary technologies. Even with the addition of Ford, GM, and other car makers," Munster said.
Persons: Tesla, Elon Musk, Dan Ives, Musk, What's, Cathie Wood, Wood, Gene Munster, They've, Munster, It's, Ives Organizations: Ford, GM, EV, Wedbush Securities, CNBC, Ives, Apple, Ark, Deepwater Asset Management, Supercharging Locations: North America
Watch CNBC's full interview with Ark Invest CEO Cathie Wood
  + stars: | 2023-06-09 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Ark Invest CEO Cathie WoodArk Invest CEO Cathie Wood joins 'Squawk Box' to discuss the GM-Tesla partnership, the EV competition at large, SEC's lawsuit against Coinbase, and more.
Persons: Cathie Wood Organizations: Ark, Coinbase
Market Movers rounded up the best reactions from investors and analysts on Tesla . The experts, including Jim Cramer and Cathie Wood of Ark Invest, discussed the electric vehicle maker as its stock popped 4%. Further, Wedbush added Tesla to its " Best Ideas List ," saying investors "recognize the underlying value in the Tesla EV ecosystem." Last month, Ford also reached an agreement with Tesla on charging station access. Cramer said he thinks Ford is the big winner out of the three automakers involved in the new electric vehicle partnerships.
Persons: Jim Cramer, Cathie, Mary Barra, Elon Musk, Wedbush, Tesla, Ford, Cramer Organizations: Tesla, Ark Invest, General, GM, Charitable Locations: Ark
On Thursday, General Motors announced that it was partnering with Tesla to let its customers access Tesla's charging stations. Wood is a long-time Tesla bull, and the electric vehicle stock accounts for more than 12% of Ark's flagship Innovation ETF (ARKK) . Ark projects that Tesla's stock can hit $2,000 per share by 2027. TSLA YTD mountain Tesla's stock has jumped sharply in 2023. Instead of electric vehicle gross margins in the 25%-30% range, we expect autonomous — the platform strategy — to deliver 80%, 90% margin.
Persons: Cathie Wood, Tesla, Wood, Organizations: Detroit's, Ark Invest, General Motors, Ford, Detroit, America, Motors
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailArk Invest's Cathie Wood on GM-Tesla partnership: Will help Tesla roll out more charging stationsArk Invest CEO Cathie Wood joins 'Squawk Box' to discuss the GM-Tesla partnership, the EV competition at large, SEC's lawsuit against Coinbase, and more.
Persons: Wood, Tesla, Cathie Wood Organizations: GM, Ark, Coinbase
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTesla's competitors realized it built a better product, says Ark's Brett WintonBrett Winton, Ark Invest's chief futurist, Tim Higgins of WSJ and Bethany McLean of Vanity Fair discuss Ford and GM's decision to adopt Tesla's charging tech. Hosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.
Persons: Ark's Brett Winton Brett Winton, Ark, Tim Higgins, Bethany McLean, Brian Sullivan, Organizations: Ford, CNBC
When Joan Rivers died in 2014, ending one of the greatest careers in modern comedy, several groups were interested in acquiring her archives, which included a meticulously organized collection of 65,000 typewritten jokes. Her daughter, Melissa Rivers, recalled a conversation with a representative from the Smithsonian Institution who wanted the catalog of jokes but said it would not be on permanent display. Her mind instantly went to the final tracking shot of “Raiders of the Lost Ark,” in which the golden Ark of the Covenant is locked inside a crate and placed in a vast warehouse with hundreds of other crates. “I couldn’t do that because so much of who she was is in those files,” Melissa Rivers told me on a video call from Los Angeles. The fact that the jokes will be accessible is only one of the reasons for Melissa Rivers’s decision.
Persons: Joan Rivers, Melissa Rivers, Rivers, George Carlin, Carl Reiner, Melissa Rivers’s Organizations: Smithsonian Institution, “ Raiders, National Comedy Center Locations: Los Angeles, Jamestown, N.Y
The small-cap index Russell 2000 (.RUT) ticked higher as investors kept moving away from megagap and growth stocks after their strong gains. Recently, U.S. shares have been boosted by a megacap stocks rally and a stronger-than-expected earnings season, with the S&P 500 (.SPX) up almost 20% from its October 2022 lows. Wells Fargo raised the price target on Netflix (NFLX.O) shares to $500 from $400, the highest on Wall Street, according to Refinitiv. Energy index (.SPNY) rose after oil prices edged higher, while the KBW Regional Banking Index (.KRX) hit a two-month high. According to preliminary data, the S&P 500 (.SPX) lost 16.31 points, or 0.38%, to end at 4,267.54 points, while the Nasdaq Composite (.IXIC) lost 170.59 points, or 1.28%, to 13,105.83.
Persons: Wells, Russell, we've, Paul Baiocchi, jitters, Wells Fargo, Campbell, Shubham Batra, Shristi, Vinay Dwivedi, Richard Chang, David Gregorio Our Organizations: Netflix, Nasdaq, SS, C ALPS Advisors, Treasury, Bank of Canada, Federal, Dow Jones, Yext, U.S . Securities, Exchange Commission, SEC, Invest, Thomson Locations: megagap, U.S, KBW, York, Coinbase, Bengaluru
Check out the companies making headlines in premarket trading. GameStop — The meme stock added 2.4% premarket ahead of quarterly results on Wednesday. Petrobras — The Brazilian oil giant rose 2% in premarket trading after Morgan Stanley upgraded the stock to overweight from equal weight. NovoCure — The oncology company added 3.2% before the opening bell. Yext — The online marketing firm soared more than 17% in premarket trading on better-than-expected quarterly results.
Persons: Morgan Stanley, Coinbase, Wood, NovoCure, Yext, CNBC's Hakyung Kim, Jesse Pound, Yun Li Organizations: Netflix, JPMorgan, GameStop, FactSet, Petrobras —, SEC, of Clinical Locations: Krakow, Poland, premarket
Affirm — Shares of the payments company surged 6% after Affirm and Amazon announced a new compatibility feature. Stitch Fix — The stock soared about 32% after the online personalized styling service company reported a narrower-than-expected loss for the fiscal third quarter. Stitch Fix posted a loss of 19 cents per share, compared with the 30-cent loss per share anticipated by analysts, according to Refinitiv. The company reported first-quarter earnings of $1.45 per share, while analysts polled by Refinitiv called for $1.24 per share. Revenue fell short of expectations, however, coming in at $597 million, versus the $602 million estimated by Wall Street.
Persons: Chris Licht, Buster's, Dave, Refinitiv, Morgan Stanley, Rosenblatt, Campbell, Canaccord Genuity, Coinbase, Wood, , Jesse Pound, Brian Evans, Darla Mercado Organizations: Amazon, Revenue, Warner Bros, Dave, Wall Street, GameStop, FactSet, Petrobras —, StreetAccount, U.S . Securities, Exchange Commission Locations: Refinitiv
Ark Invest's Cathie Wood added to her Coinbase holding Tuesday, unfazed by the Securities and Exchange Commission's charges against the crypto exchange. Wood snapped up 329,773 shares of Coinbase for her flagship ARK Innovation ETF in the previous session when the stock tumbled more than 12%. She also added 53,885 shares for ARK Next Generation Internet ETF as well as another 35,666 shares for Ark Fintech Innovation ETF. The crypto exchange is now ARKK's sixth biggest holding with a 5.35% weighting. Wood has been sticking with her bold call on bitcoin despite the regulatory crackdown in the crypto industry.
Persons: Wood, Coinbase, Binance, Changpeng Zhao Organizations: Securities, Exchange, Fintech, SEC, ARK Invest Locations: unfazed, Coinbase, New York
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRep. French Hill: We have confusion in the marketplace on digital asset regulationHouse Financial Services Committee vice chair Rep. French Hill (R-Ark.) joins 'Squawk Box' to discuss the SEC's lawsuit against Binance and Coinbase, and the initial draft of a new bill that seeks to provide a framework for digital asset regulation.
Persons: Binance Organizations: Rep, Financial
Nvidia is worth holding for two to three years, Stanley Druckenmiller said in a Bloomberg conference. His bullishness comes as other investors have called Nvidia overvalued. His bullishness comes as other investors have called Nvidia overvalued after it briefly soared to a market cap of $1 trillion last month. During the Bloomberg interview, Druckenmiller also noted that even if a hard landing for the economy affects some AI development, he expects Nvidia to thrive in the long run. In the first quarter, his family office snapped up $220 million worth of the chipmaker's stock.
Persons: Stanley Druckenmiller, Druckenmiller, , he'd, Bard, they're, Cathie Wood, Asmath Damodaran, Goldman Sachs Organizations: Nvidia, Bloomberg, Microsoft, Service, Privacy, Bloomberg Invest, Duquesne Family, Bank of America, ARK
Summary Futures down: Nasdaq 0.16%, Dow 0.13%, S&P 0.08%June 7 (Reuters) - U.S. stock index futures edged lower on Wednesday as investors remained cautious ahead of inflation data and the Federal Reserve's policy meeting next week, while worse-than-expected China exports data for May hit sentiment. U.S. shares have also been boosted by a rally in megacap stocks and a stronger-than-expected earnings season. However, some analysts say that profit-taking may be round the corner for big tech and other major growth stocks. ET, Dow e-minis were down 43 points, or 0.13%, S&P 500 e-minis were down 3.5 points, or 0.08%, and Nasdaq 100 e-minis were down 23.25 points, or 0.16%. Shares of Yext Inc jumped 18.4% premarket after the New York-based online marketing firm raised its annual earnings forecast.
Persons: Charalampos Pissouros, Wells Fargo, Shubham Batra, Vinay Dwivedi Organizations: Dow, Nasdaq, XM, Dow e, Netflix, Securities and Exchange Commission, Invest, Yext Inc, Thomson Locations: China, U.S, Coinbase, York, Bengaluru
CHONGQING, CHINA - MAY 4, 2023 - Young technicians test the quality of electronic chips at a dust-free production workshop in Chongqing, China, May 4, 2023. CFOTO | Future Publishing | Getty ImagesIndustry analysts are optimistic that Chinese chip makers will develop their own advanced semiconductors despite Washington's attempts to cut the country off from accessing or manufacturing the technology. Washington also reportedly urged South Korea to not let its chip makers fill Micron's void in China. China is pouring more than 1 trillion Chinese yuan ($140 billion) into its chip industry, according to a Reuters report. Domestic chip makers already benefit from government subsidies and state-backed research projects.
Persons: Daniel Newman, Paul Scharre, Washington, Jensen Huang, Huang Organizations: Getty Images Industry, Futurum Group, CNBC, Nvidia, Huawei, Wall Street, New, Micron Technology Locations: CHONGQING, CHINA, Chongqing, China, New American, May, South Korea, Taipei
Andreessen Horowitz partner Marc Andreessen Justin Sullivan | Getty ImagesVenture capitalist Marc Andreessen is known for saying that "software is eating the world." When it comes to artificial intelligence, he claims people should stop worrying and build, build, build. Andreessen writes that there's a "wall of fear-mongering and doomerism" in the AI world right now. Andreessen writes that people in roles like AI safety expert, AI ethicist and AI risk researcher "are paid to be doomers, and their statements should be processed appropriately," he wrote. In Andreessen's own idealist future, "every child will have an AI tutor that is infinitely patient, infinitely compassionate, infinitely knowledgeable, infinitely helpful."
Persons: Andreessen Horowitz, Marc Andreessen Justin Sullivan, Marc Andreessen, Andreessen, It's, it's, Bill Gates, Sam Altman, Demis Hassabis, Ben Horowitz Organizations: Getty Images Venture, Nvidia, Microsoft, Center, AI Safety, Tech Locations: China
Visitors look out to St. Paul's Cathedral from a rooftop in the City of London, UK, on Thursday, March 2, 2023. "I absolutely know there was strong appetite from investors in the U.K. for Arm. And it was always going to be a both sides of the Atlantic trade. The fact that, actually, the U.S. had to fight as hard as they did to get it, I think illustrates how strong our proposition actually is." London reform
Persons: Julia Hoggett, CNBC's Arjun Kharpal, Hoggett, Japan's SoftBank Organizations: City of, Bloomberg, Getty, London Stock Exchange, Nvidia Locations: St, Paul's, City, City of London, New York, U.S, Amsterdam, London
However, Ark Invest's flagship Ark Innovation ETF (ARKK) exited its position in Nvidia entirely in early January —before the chipmaker enjoyed a powerful rally that propelled it to a $1 trillion market capitalization. We saw this potential for deep learning and enjoyed a lot of that ride," said Frank Downing, a research director at Ark Invest. The growth of the industry and the urgent need for powerful AI hardware has led to an increase in the number of companies entering the market. Ark Invest hasn't been alone in trimming an Nvidia stake. However, despite exiting a portion of their Nvidia positions, both Ark Invest and Damodaran maintain a favorable outlook for the company.
Persons: Ark, , We've, Frank Downing, Downing, CNBC's, we've, Aswath, University's Organizations: Tech, Nvidia, AI, Innovation, Ark Invest, ARK Autonomous Tech, Robotics, Google, Amazon, AWS, AMD, Intel, University's Stern School of Business, NYU's Stern School of Business, Ark, Damodaran Locations: New
Two firms specializing in artificial intelligence — UiPath and Twilio — are being underappreciated by investors, according to Frank Downing of Ark Investments. UiPath, a business process automation firm, is one of the companies that Downing views as overlooked. ARKW 1Y line He thinks this could mean fewer manual human interventions, substantially improving efficiency at UiPath for its customers. PATH 1Y line Twilio Twilio, a cloud communications platform founded in 2008, was also flagged by Downing as a potentially undervalued stock. Still, the director of research believes companies such as Twilio and UiPath are likely to capture the next wave of growth as AI is increasingly commoditized.
Persons: Frank Downing, Downing, OpenAI, ChatGPT . Downing, Siti Panigrahi, TWLO Organizations: Ark Investments, Mizuho, Microsoft, Google Locations: ChatGPT .
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailArk Invest's Frank Downing reveals his top picks in the A.I. spaceFrank Downing, a director of research at Ark Invest, shares his top picks on how to play the artificial intelligence space.
Persons: Frank Downing Organizations: Ark Invest
AI will be a “massive opportunity” for Tesla: Ark Invest
  + stars: | 2023-06-02 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAI will be a “massive opportunity” for Tesla: Ark InvestFrank Downing, Director of Research, Next Generation Internet at Ark Invest explains how Tesla can benefit from the latest developments in artificial intelligence.
Persons: Invest Frank Downing, Tesla Organizations: Invest, Research, Ark Invest
—‎‏ Shoppers who click the "buy" button on Walmart 's website and pick up items curbside will soon spot a difference: new packaging. "It's about making sustainability the everyday choice for our customers," said Jane Ewing, Walmart's senior vice president of sustainability. Walmart wants to reduce packaging as online sales become a bigger part of its business. Other retailers are trying to cut down on packaging and cater to customers who care about sustainability, too. Amazon has also used more made-to-fit packaging after investing two years ago in CMC, a company that makes the packaging machine.
Persons: Jane Ewing, Walmart's Organizations: Walmart, U.S, Target Locations: BENTONVILLE, Ark, U.S
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