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Cathie Wood's decision to sell more than 1 million shares of Nvidia came as the stock rocketed to astronomical highs. Ark Invest has missed out on more than $1 billion in returns by selling Nvidia stock too early. Ark Invest sold 859,000 Nvidia shares in the fourth quarter of 2022, when the stock was trading below $150 per share. In the first quarter of 2024, ARK Invest continued to pare down its Nvidia stake, selling 81,239 shares. ARK Invest has redeployed its proceeds from selling Nvidia stock into other potential AI companies, though few of those investments have panned out.
Persons: Cathie, , ChatGPT, Wood, pare, it's Organizations: Nvidia, Invest, Ark Invest, Service, Securities and Exchange Commission, CNBC, ARK Invest, Wall Street
Donald Trump tried to turn his criminal conviction to his advantage today, delivering a 33-minute speech laden with baseless attacks on the prosecution team and the presiding judge, along with other falsehoods and misleading claims. He also said he would appeal his conviction, a process that could take months or even years to resolve. Trump’s campaign announced that it had raised a record-breaking $34.8 million in the hours after the jury found him guilty on all 34 counts of falsifying business records. Republicans used the first criminal conviction of a former president as a rallying cry — for campaign cash, for congressional hearings and for motivation to vote in November. President Biden broke his long silence on Trump’s legal troubles, calling the former president’s remarks reckless, dangerous and irresponsible.
Persons: Donald Trump, Trump’s, , Biden Organizations: Republicans
A day after U.S. officials said Ukraine could use American weapons in limited strikes inside Russia, a deepfake video of a U.S. spokesman discussing the policy appeared online. The 49-second video clip, which has an authentic feel despite telltale clues of manipulation, illustrates the growing threat of disinformation and especially so-called deepfake videos powered by artificial intelligence. But they are particularly concerned about how Russia might employ such techniques to manipulate opinion around the war in Ukraine or even American political discourse. Belgorod “has essentially no civilians remaining,” the video purports to show Mr. Miller saying at the State Department in response to a reporter’s question, which was also manufactured. “It’s practically full of military targets at this point, and we are seeing the same thing starting in the regions around there.”
Persons: Matthew Miller, Miller, It’s, Organizations: State Department, Belgorod “ Locations: Ukraine, Russia, Russian, Belgorod, Ukraine’s
Welcome to Opinion’s coverage of the guilty verdict in the Manhattan trial of Donald Trump. It is hard to imagine that he was helped, in any way, by his constant attacks on judge, jury and the trial itself. voters to Trump, helping him win a third consecutive Republican nomination. And when Trump concealed the nature of the payments, the prosecution could easily make the case — at least to a jury — that he must have known that the payments were legally problematic. Trial outcomes are often dictated by the side that can create the most coherent narrative, and the prosecution’s theory of the case was easy for the jury to grasp.
Persons: Donald Trump, Donald Trump —, Matthew Continetti, Alvin Bragg, Trump, G.O.P, Bragg, David French, Daniels Organizations: Trump, Republican, Trumpism Locations: Manhattan
At the end of the event, the site of a future memorial will be dedicated, where, eventually, the 12 names will be etched into the landscape of Virginia Beach. The children of Mary Louise Gayle, whose name will be among them, have no plans to be at the ceremony. Matthew Gayle, her son, is resuming a sailing trip he cut short exactly five years earlier when he learned of a shooting at his mother’s workplace. They could not bring themselves to join hands with a city that they, and members of some of other victims’ families, say let them down. What troubled her so much was that her mother, along with nearly all the other victims, had spent most of her career with the city.
Persons: Mary Louise Gayle, Sarah Leonard, Matthew Gayle, ” Ms, Leonard Locations: Virginia Beach
Trump Media and Technology Group stock fell as much as 9% after Donald Trump became a convicted felon. Trump Media stock has been volatile since the conviction, having risen 7% in premarket trading. AdvertisementTrump Media and Technology Group experienced a rollercoaster ride of trading in the aftermath of Donald Trump becoming a convicted felon. Trump Media, which is the parent company of Truth Social, saw its stock decline as much as 9% on Friday. Trump Media Group has largely become a meme-stock with a fervent base of supporters who are politically aligned with the former President.
Persons: Donald Trump, Trump, , Trump's, Stormy Daniels Organizations: Trump Media, Technology Group, Service, Truth, Trump Media Group
Instead, Trump delivered a rambling monologue that was filled with false claims on subjects ranging from the Manhattan trial to immigration to tax policy. He said this time that “you have violent crime all over this city at levels that nobody’s ever seen before.”Facts First: Trump’s claim is not even close to true. Michael Cohen’s crimesCriticizing key prosecution witness Michael Cohen, Trump repeated a claim he made during the trial in April. Facts First: There is no basis for Trump’s claim. It was dead.”Facts First: Trump’s claim is false.
Persons: Donald Trump, Trump, New York City Trump, Michael Cohen’s, Michael Cohen, Cohen, , Robert Mueller, Trump’s, ” Cohen, , ” Trump, Biden, Joe Biden, Alvin Bragg’s, , Bragg, Matthew Colangelo, Colangelo, Judge Juan Merchan, Merchan, Bradley Smith, Rather, Smith, Congo ’ Trump, Africa –, Patrick Muyaya Katembwe, ” Serge Mombouli Organizations: Washington CNN, New York City, New, Trump, Republican, Intelligence, Biden, DOJ, of Justice, federal, Department, Democrat, Justice Department, Congo, Democratic, CNN, PAC, Nord Locations: Manhattan, New York, , New York City, New York City, , Russia, Moscow, York’s, Congo, Democratic Republic of Congo, Republic of Congo, Africa, United States of America, Republic of, Germany, Russian, Trump’s, Ukraine
Read previewFormer President Donald Trump's fundraising page crashed Thursday evening after he called for donations following his guilty verdict in a criminal trial in Manhattan. "So many Americans were moved to donate to President Trump's campaign that the WinRed pages went down," the post read. AdvertisementDonors can contribute $100 to his campaign under the option: "DONATE THIS AMOUNT IF YOU THINK PRESIDENT TRUMP DID NOTHING WRONG!" After being indicted in Manhattan in April 2023, the Trump campaign said he made about $5 million in donations in 48 hours. A spokesperson for Trump's campaign did not immediately respond to a request for comment sent outside regular business hours by Business Insider.
Persons: , Donald Trump's, Trump's, Donald Trump, Trump, TRUMP, He's, MAGA, MoveOn Organizations: Service, Business, New York Times, CNBC, Google, Trump, Democratic Locations: Manhattan, Georgia, Fulton, New York
Investors should buy stocks ahead of next week's May jobs report, according to Fundstrat's Tom Lee. "We see high probability that stocks perform well into next week's May jobs report," Lee said. AdvertisementInvestors should buy the dip in stocks ahead of next week's release of the May jobs report, according to a Friday note from Fundstrat's Tom Lee. "Thus, we see high probability that stocks perform well into next week's May jobs report," Lee said. Such a report would match the April jobs report and likely put some pressure on the Fed to cut interest rates sooner than later.
Persons: Tom Lee, Lee, Organizations: Service, Nasdaq, Dow Jones, PCE, Housing
Shares of Trump Media & Technology Group whipsawed after former President Donald J. Trump, the company’s largest investor and primary user of its Truth Social platform, was found guilty of 34 felony counts of falsifying business records to cover up a sex scandal. Trump Media’s stock began falling immediately after the verdict in Mr. Trump’s trial in Manhattan was announced on Thursday, which came after the stock market had closed. The company’s stock is typically volatile, so such large moves are not unusual, especially after the official close of regular trading, when low trading volumes can accentuate price swings. Trump Media remains richly valued relative to the size of its business. The stock has become his main source of wealth since Trump Media make its market debut in March, but he cannot sell or borrow against the shares until September.
Persons: Donald J, Trump, Trump’s, Still Organizations: Trump Media & Technology, Trump Media’s, Trump Media Locations: Manhattan
The World Food Programme (WFP) is currently serving only 27,000 people in Rafah, according to Matthew Hollingworth, the organization’s country director in Gaza. Rafah had previously been the central artery for aid to flow into Gaza, as the only border crossing not controlled by Israel. Israel’s military has continued to push further into Rafah, defying international concern and anger over its operations in the city. “IDF troops in central Rafah located Hamas rocket launchers, terror tunnel shafts, and weapons. Hollingworth added that the WFP’s warehouse in Rafah, which was once capable of storing 2,700 tons of food, is no longer operational.
Persons: Matthew Hollingworth, ” Hollingworth, , Hollingsworth, Jack Guez, Israel, Erez, Hollingworth, Organizations: CNN, United, Food Programme, Getty, WFP, Israel Defense Forces, , UN, IDF Locations: United Nations, Rafah, Gaza, Israel, AFP, Egypt, , May, Kerem, Erez
The company said just two customers represented 24% of its revenue in the first quarter. UBS thinks the biggest mystery customer — accounting for 19% of revenue last year — is Microsoft. And UBS believes Nvidia's biggest customer of them all is Microsoft. According to supply chain data estimates from Bloomberg, Arcuri is spot on with Microsoft being Nvidia's largest customer. Bloomberg data estimates that Microsoft makes up 15% of Nvidia's revenue, followed by Meta Platforms at 13% of revenue, Amazon at 6% of revenue, and Alphabet at about 6% of revenue.
Persons: , Blackwell, Timothy Arcuri, Arcuri Organizations: Nvidia, UBS, Microsoft, Service, SEC, OpenAI, Bloomberg, Meta, Amazon
Trump Is Guilty on All Counts
  + stars: | 2024-05-30 | by ( Matthew Cullen | ) www.nytimes.com   time to read: +1 min
Donald Trump was convicted today of falsifying records to cover up a sex scandal that threatened to derail his 2016 presidential campaign. He is the first American president to be declared a felon. After two days of deliberations, a jury of 12 New Yorkers found the former president guilty of all 34 felony charges. Trump did not visibly respond to the verdict, my colleague Jonah Bromwich reported from the courtroom. “The real verdict is going to be Nov. 5, by the people,” Trump said.
Persons: Donald Trump, Trump, Jonah Bromwich, ” Trump Organizations: Yorkers, White Locations: American, Manhattan
Jurors in the criminal trial of Donald J. Trump heard testimony from two key witnesses and a portion of the judge’s instructions to the jury read back to them in court on Thursday morning, one day after they asked for a refresher on the material. It is unclear what the requested material may reveal about what is happening in the jury room, and it is difficult to draw any conclusions about the state of their conversations over Mr. Trump’s guilt or innocence. The testimony the jurors requested to hear included questions posed by both the defense and the prosecution to David Pecker, the former publisher of The National Enquirer, and Michael D. Cohen, Mr. Trump’s former fixer. They were the first and last witnesses to testify for the prosecution and the two who spent the most time on the stand during the trial. Both spoke about working during Mr. Trump’s 2016 presidential campaign to suppress unflattering stories about Mr. Trump while promoting negative stories about his political rivals.
Persons: Donald J, Trump, David Pecker, Michael D, Cohen, Trump’s Organizations: National Enquirer
Salesforce stock plunged 21% after the company reported its first revenue miss since 2006. AdvertisementSalesforce stock plunged as much as 21% on Thursday after the company reported its first revenue miss since 2006. Here are the key numbers:AdvertisementQ1 Revenue: $9.13 billion, versus analyst estimates of $9.17 billion$9.13 billion, versus analyst estimates of $9.17 billion Q1 Adjusted earnings per share: $2.44, versus analyst estimates of $2.38$2.44, versus analyst estimates of $2.38 Q2 Revenue guidance: $9.2 billion to $9.25 billion, versus analyst estimates of $9.37 billion"Macro headwinds returned with a vengeance," analysts at Citi said in a note on Thursday. AdvertisementGoldman Sachs reiterated its "Buy" rating on Salesforce and categorized the weakness in the company's results as "cyclical headwinds" that should ultimately dissipate. AdvertisementCiti reiterated its "Neutral" rating and took a more cautious view on Salesforce following their results.
Persons: , Goldman Sachs, Dan Ives, Ives Organizations: Service, Citi, Bank of America, Sales
Markets are bracing for the release of PCE inflation data on Friday. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Markets are now bracing for the release of personal consumption expenditures data, which is the Fed's preferred inflation measure. Economists expect the data to show inflation in April rose 2.7% year-over-year, while core PCE rose 0.2%, compared to 0.3% in March.
Persons: , Bill Adams Organizations: Service, Dow Jones, Comerica Bank, Treasury, Fed Locations: Salesforce, Here's
Trump sat still after the verdict was read, with his hands in his lap, looking forward. At the heart of the criminal case against Trump was a payment that prosecutors said was designed to influence the 2016 election. A historic trial with tawdry detailsThe verdict follows the first-ever criminal trial of a former American president. AdvertisementFormer U.S. President Donald Trump departs the courtroom after being found guilty on all 34 counts in his hush money trial at Manhattan Criminal Court. In opening statements at the trial, prosecutor Matthew Colangelo described the case against Trump as being about a "criminal conspiracy," while Blanche likened hush money to "democracy."
Persons: , Donald Trump, Trump, Stormy Daniels, Juan Merchan, Michael Cohen, Trump's, Daniels, Cohen, Merchan, Cohen —, Justin Lane, Robert Costello, Costello, scoffing, Matthew Colangelo, Blanche, Joe Biden, Robert De Niro, Eric Trump, Alina Habba Organizations: Service, Business, New, Trump, Manhattan Criminal, Prosecutors, Biden, Secret Service, Georgia — Locations: Manhattan, Tahoe, American, Washington ,, Georgia, Florida
Read previewThe jury in former President Donald Trump's criminal hush-money trial has reached a verdict. At the heart of the criminal case against Trump was a payment prosecutors said was designed to influence the 2016 election. Trump repaid Cohen with a series of checks in 2017, once he was already president, prosecutors alleged. The verdict follows the first-ever criminal trial of a former American president. "Just take care of it," Cohen said Trump told him in ordering him to quash Daniels' sex story.
Persons: , Donald Trump's, Trump, Stormy Daniels, Michael Cohen, Trump's, Daniels, Cohen, Juan Merchan, Cohen —, Robert Costello, Costello, scoffing, Matthew Colangelo, Todd Blanche, Merchan, Joe Biden, Robert De Niro Organizations: Service, Business, Trump, New, Prosecutors, Biden, Georgia — Locations: Manhattan, Tahoe, American, Washington , DC, Georgia, Florida
Here’s a look at the importance of the border strip to Israel, to Palestinians and to Egypt:What is the border strip? It is land around 100 yards wide that runs roughly eight miles from Israel’s border to the Mediterranean. The Israelis used the code name Philadelphi for the strip, while Egyptian officials call it Salah Al Din. Why does it matter to Israel? Senior Israeli officials had set control of the strip, which in Israel is called the Philadelphi Corridor, as a military objective.
Persons: Israel, Salah Al Din Organizations: Hamas, Senior Locations: Gaza, Israel, Egypt, Israel’s, Rafah
A court in Tianjin sentenced a former executive for a state-owned firm to death for bribery on Tuesday. Bai Tianhui was found guilty of accepting bribes worth $151 million. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA former senior banker for a Chinese state-owned asset management firm has been sentenced to death for bribery, a court in Tianjin said on Tuesday. Bai Tianhui, an ex-general manager of China Huarong International Holdings, was found guilty of taking bribes worth $151 million from 2014 to 2018, the court wrote in an announcement.
Persons: Bai Tianhui, wouldn't, , Bai Organizations: Service, China Huarong International Holdings, Authorities, Business Locations: Tianjin, China
The stock market is primed for a correction as equity valuations hit historically high levels, according to economist David Rosenberg. AdvertisementThe stock market is "primed for a correction" as earnings valuations hit historically high levels, according to economist David Rosenberg. That suggests that the expansion in the S&P 500's forward price-to-earnings valuation multiple to 21x from 18x in October is getting stretched. Wall Street consensus for the S&P 500's 2024 earnings per share is $245, which is the same forecast today as it was in October, before the stock market staged a near-30% rally. AdvertisementThat has informed Rosenberg's consistently bearish view, but the economist did say that high valuations on their own do not mean the stock market can't go higher from here.
Persons: David Rosenberg, Rosenberg, , " Rosenberg, Rosenberg's Organizations: Service
Two senior US officials told the NYT that Washington has sent plans for more than 1,000 weapons to Ukraine. The officials declined to say which weapons plans were included, but left a clue, per the NYT. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe US has given Ukraine manufacturing plans for more than 1,000 American weapons in hopes of helping Kyiv bolster its own arms production, two officials told The New York Times. The military officials told NYT's John Ismay of the transfer during a reporting visit to a new factory for Howitzer artillery shells near Dallas.
Persons: , NYT's John Ismay, William A, Douglas R, Bush Organizations: Washington, Service, New York Times, Defense, Army, Acquisition, Logistics, Technology, Business Locations: Ukraine, Kyiv, Dallas
At the Cannes Film Festival earlier this month, Moore's latest movie, "The Substance," received a 13-minute standing ovation. And Moore's three daughters — Rumer, 35, Scout, 32, and Tallulah, 30 — are here for all the praise. Advertisement(L-R) Rumer Willis, father Bruce Willis, sister Tallulah Willis, mother Demi Moore, and sister Scout Willis. Getty"We have a thread that we call 'Lineage of Females' that has all my sisters and I on it, and we don't see the looks she's going to do, so when we do, we're like, 'Oh my god, mom, mom, mom, this is amazing, you look iconic! Moore, 61, who had her daughters while married to Bruce Willis before they divorced, found fame in the 1980s.
Persons: , Matthew McConaughey's, Brendan Fraser's, Demi Moore's, Moore's, Margaret Qualley, Dennis Quaid, didn't, — Rumer, Rumer, Rumer Willis, Bruce Willis, Tallulah Willis, Demi Moore, Scout Willis, Getty, Jenna Bush Hager, Matthew McConaughey, Moore Organizations: Service, Cannes Film, Business, York Locations: Tallulah, South, France, Elmo's
Washington CNN —Former President Donald Trump has uttered multiple false or misleading claims about his Manhattan criminal trial this week as the trial has neared a conclusion. An “advice of counsel” defense typically requires the defendant to waive attorney-client privilege. This Court can not endorse such a tactic.” Therefore, Merchan ruled, Trump could not invoke or even suggest a “presence of counsel” defense in the trial. Prosecutors provided three theories of what unlawful means Trump used. After Merchan refused last week to change his mind, Trump’s defense decided not to call Smith as a witness.
Persons: Donald Trump, Trump, , Juan Merchan, , MERCHAN, , Merchan, ” Trump, ” Merchan, Defendant, you’ve, It’s, it’s, John Roberts, don’t, ” Lee Kovarsky, Jeremy Herb, doesn’t, didn’t, Brad Smith, Wouldn’t, Bradley Smith, Rather, Smith, Biden, Joe Biden, Attorney Alvin Bragg, Bragg, Matthew Colangelo, Colangelo Organizations: Washington CNN, Manhattan, Fox News, Prosecutors, Federal, University of Texas, Trump, Records, Attorney, Justice Department Locations: New York, York, , Manhattan, York’s
Read previewThe US has opened a new factory for Howitzer ammo near Dallas, which aims to pump out 30,000 of the 155mm shells a month as the Ukraine war chews through Western stocks. The new facility at max capacity would bump total production to 66,000 shells a month for the US. Kofman told the outlet that while the Mesquite plant would be important for long-term production, Russia would likely still be producing more ammo than the West even if the US hits its 2025 goal. The US and Europe have sent Ukraine more than 3 million 155mm artillery shells since the war began. With Washington and its allies expected to produce about 1.3 million rounds in 2024, that would be about a third of Russia's forecast capacity at triple the cost.
Persons: , John Ismay, Ismay, Michael Kofman, That's, Kofman, Doug Bush Organizations: Service, General Dynamics, The New York Times, Business, Texas, US Army, CNN, Kyiv, Carnegie Endowment, International, European Union, Sky News, Bain & Company, Washington, Press, Pentagon Locations: Dallas, Ukraine, Mesquite , Texas, The, Pennsylvania, Moscow, Kyiv . Washington, Israel, Europe, Russia, Mesquite, Kyiv
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