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5 hours ago
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$110M Wiped Out: Bitcoin Whale Trader Gets Burned As BTC Tags $104,150
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Pseudonymous crypto trader James Wynn, known for his high-leverage strategies, suffered losses exceeding $110 million after Bitcoin's (CRYPTO: BTC) price slipped below key support levels on Friday. Wynn had taken a bold bet on Bitcoin's upward trajectory, opening a massive $830 million long position on May 21, acquiring over 7,700 BTC at roughly $105,000 per coin. By May 24, he had increased his exposure to 11,588 BTC, pushing his position's value to $1.25 billion at an average cost of $108,243. Don't Miss: Trade crypto futures on Plus500 with up to $200 in bonuses — no wallets, just price speculation and free paper trading to practice different strategies. Grow your IRA or 401(k) with Crypto – unlock the power of alternative investments including a Crypto IRA within your retirement account. However, the market turned sharply following U.S. President Donald Trump's announcement of a 50% tariff on EU exports, pushing Bitcoin below $105,000 and triggering large-scale liquidations of Wynn's leveraged holdings. According to Hypurrscan, Wynn faced a series of painful liquidations: 527 BTC worth $55 million was wiped out at $104,950, followed by another 422 BTC at $104,150, and a final 95.5 BTC at $104,620. In total, 1,044 BTC were liquidated over the week. Wynn expressed frustration over market integrity, posting on X: "I have exposed just how corrupt these markets are. Guess it's better to just buy and hold BTC on spot." Despite the drawdown, Wynn reportedly maintains a remaining long position of 1,591 BTC, worth approximately $167 million, with a high-risk 40x leverage and a liquidation threshold near $104,530. Read Next: New to crypto? Get up to $400 in rewards for successfully completing short educational courses and making your first qualifying trade on Coinbase. A must-have for all crypto enthusiasts: Sign up for the Gemini Credit Card today and earn rewards on Bitcoin Ether, or 60+ other tokens, with every purchase. Image: Shutterstock Send To MSN: Send to MSN This article $110M Wiped Out: Bitcoin Whale Trader Gets Burned As BTC Tags $104,150 originally appeared on Sign in to access your portfolio
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13 hours ago
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GAP Flags Over $100 Million Tariff Burden Outside Guidance, Near-Term Stock Pressure Likely: Analyst
Goldman Sachs analyst Brooke Roach reiterated the Buy rating on Gap, Inc. (NYSE:GAP), raising the price forecast from $25 to $28. On Thursday, the firm reported first-quarter earnings of 51 cents per share, which beat the consensus estimate of 45 cents. Quarterly revenue came in at $3.46 billion, which beat the Street estimate of $3.42 billion. Gap has reaffirmed its full-year 2025 guidance, excluding any potential tariff-related impacts. While core business trends remain solid, the analyst highlighted that the investor sentiment may have been tempered by heightened expectations and Gap's acknowledgment of a larger-than-expected tariff headwind in the second half, even after mitigation, estimated at $100 million to $150 continues to shift its sourcing strategy to reduce exposure to China. The company expects less than 3% of its products to come from China by the end of 2025, down from under 10% in 2024. By the end of 2026, Gap aims to ensure no single country accounts for more than 25% of its sourcing. The estimated unmitigated tariff impact stands at $250 million to $300 million, while mitigation efforts could bring that down to $100 million to $150 million. However, this range is not formally included in the company's current outlook. Gap is using standard mitigation levers such as adjusting sourcing, manufacturing, assortments, and negotiating with vendors, but does not plan to raise prices in response to the tariff risk. Despite the uncertainty, the company is continuing to invest in key strategic initiatives and intends to reinvest a portion of its projected FY25 cost savings to support its growth plans. While the analyst has reduced Gap's second-half forecasts due to higher-than-expected tariff headwinds and expects this to weigh on the stock in the near term, Roach remained confident in the company's ability to manage these challenges into FY26 using additional 'mitigatory levers,' including the 'unused option' of pricing. The analyst added that Gap has additional mitigation tools available, including the option to adjust pricing, which it has not yet utilized. Roach stated that their 2025, 2026, and 2027 EPS estimates have been revised to $2.19, $2.34, and $2.61, compared with the previous forecasts of $2.28, $2.37, and $2.61. The update reflects Gap's strong first-quarter performance and incorporates the latest tariff guidance provided by management, the analyst said in the note. Price Action: GAP shares are trading lower by 18.2% to $22.87 at last check Friday. Read Next: Photo via Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? This article GAP Flags Over $100 Million Tariff Burden Outside Guidance, Near-Term Stock Pressure Likely: Analyst originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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13 hours ago
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Pfizer Reports Survival Gains In Colorectal Cancer Study, Combo Therapy Cuts Death Risk By Over 50%
Pfizer Inc. (NYSE:PFE) on Friday released data from Phase 3 BREAKWATER trial evaluating BRAFTOVI (encorafenib) in combination with cetuximab (marketed as ERBITUX) and mFOLFOX6 (fluorouracil, leucovorin, and oxaliplatin) for metastatic colorectal cancer (mCRC) with a BRAF V600E mutation. The study showed statistically significant and clinically meaningful survival results. The data will be presented at the 2025 American Society of Clinical Oncology (ASCO) Annual Meeting and published in the New England Journal of a second interim analysis of overall survival (OS), a key secondary endpoint, the BRAFTOVI combination regimen reduced the risk of death by 51% compared to standard-of-care chemotherapy with or without bevacizumab (Hazard Ratio [HR] 0.49). Median OS was 30.3 months with BRAFTOVI in combination with cetuximab and mFOLFOX6 compared to 15.1 months with chemotherapy with or without bevacizumab. In the primary analysis of progression-free survival (PFS), the BRAFTOVI combination regimen reduced the risk of disease progression or death by 47% compared to standard-of-care chemotherapy with or without bevacizumab (HR 0.53) as assessed by blinded independent central review (BICR). Median PFS was 12.8 months with the BRAFTOVI combination regimen compared to 7.1 months. The updated objective response rate (ORR) by BICR confirmed the improvement previously observed with the BRAFTOVI combination regimen compared to patients receiving chemotherapy with or without bevacizumab. The prior primary analysis also maintained the estimated median duration of response and median time to response. The BRAFTOVI combination regimen received accelerated approval by the U.S. Food and Drug Administration (FDA) in December 2024 for patients with BRAF V600E -mutant mCRC based on a clinically meaningful and statistically significant improvement in confirmed ORR in treatment-naïve patients, the study's other dual primary endpoint. Continued approval for this indication is contingent upon verification of clinical benefit. The BREAKWATER survival data are being discussed with the U.S. FDA to support potential conversion to full approval in 2025. Price Action: PFE stock is up 0.51% at $23.57 at the last check on Friday. Read Next:Photo via Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? PFIZER (PFE): Free Stock Analysis Report This article Pfizer Reports Survival Gains In Colorectal Cancer Study, Combo Therapy Cuts Death Risk By Over 50% originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. 登入存取你的投資組合
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15 hours ago
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Roche's Multiple Sclerosis Drug Shows Low Disease Activity Over Two Years
Roche Holdings AG (OTC:RHHBY) on Friday announced new 96-week data for fenebrutinib demonstrating that patients with relapsing multiple sclerosis (RMS) maintained no disability progression and low disease activity levels for up to two years. The latest results for this investigational Bruton's tyrosine kinase (BTK) inhibitor from the Phase II FENopta open-label extension (OLE) study were presented at the Consortium of Multiple Sclerosis Centers (CMSC) Annual Meeting. Ninety-nine patients entered the OLE and 93 remained in the OLE after 96 the OLE period, patients treated with fenebrutinib for up to 96 weeks had a low annualised relapse rate (ARR) of 0.06, and during this time there was no disability progression, as measured by the Expanded Disability Status Scale (EDSS). MRI scans showed that fenebrutinib treatment suppressed disease activity in the brain. At 96 weeks zero new T1 gadolinium-enhancing (T1-Gd+) lesions, which are markers of active inflammation, were detected. In the treatment group that switched from placebo to fenebrutinib in the OLE, the annualized rate of new or enlarging T2 lesions, which represent chronic disease burden, decreased from 6.72 at the end of the 12-week double-blind period to 0.34 by 96 weeks. The safety profile of fenebrutinib in the OLE was consistent with previously reported data, with no new safety concerns identified at 96 weeks. During the OLE, one patient experienced asymptomatic alanine aminotransferase elevation at OLE week 4, after 16 weeks on treatment, which resolved with treatment discontinuation. Three Phase 3 trials are ongoing, including the FENhance 1 and 2 trials in RMS and the FENtrepid trial in primary progressive multiple sclerosis (PPMS). The first data from these studies are expected at the end of 2025. In April, Roche announced it would invest $50 billion in the U.S. over the next five years. These investments further strengthen Roche's already significant U.S. footprint, which includes 13 manufacturing and 15 R&D sites across the Pharmaceutical and Diagnostics Divisions. The investment is expected to create over 12,000 new jobs, including nearly 6,500 construction jobs and 1,000 jobs at new and expanded facilities. Price Action: RHHBY stock is trading higher by 1.83% to $40.25 at last check Friday. Read Next:Photo by OleksSH via Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? This article Roche's Multiple Sclerosis Drug Shows Low Disease Activity Over Two Years originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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17 hours ago
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Inquiries From Wealthy Americans Seeking Overseas Citizenship To Protect Their Assets Have Risen By A Staggering 183% In One Year
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Inquiries from wealthy Americans seeking overseas citizenship to protect their assets have risen by a staggering 183% in one year, according to Henley & Partners' USA Wealth Report 2025, released May 20. Reasons to obtain citizenship outside of the U.S. are mostly related to asset management and extend beyond the knee-jerk reaction that led to the first wave of U.S. citizens applying for foreign citizenship in the first three months of this year, the report states. Rather, Basil Mohr-Elzeki, managing partner of Henley & Partners North America, believes the desire to step away from the U.S. is fueled by careful consideration of the rich insuring their wealth against geopolitical instability. Don't Miss: Hasbro, MGM, and Skechers trust this AI marketing firm — Inspired by Uber and Airbnb – Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets – 'We're witnessing a new level of sophistication in how affluent Americans manage and diversify their wealth,' Mohr-Elzeki said in the report. 'Securing alternative residences and citizenships is now a strategic form of risk management—a thoughtful Plan B that enhances family resilience, unlocks global opportunities, and safeguards multigenerational legacies.' According to the report data, the wealthiest Americans are not simply inquiring about overseas citizenship but acting on it, too. The report says that around 30% of all investment migration applications submitted through the wealth management firm were by U.S. citizens. Professor Peter J. Spiro of Temple University Law School said in the report that, given the current instability in the U.S., including trade, stocks, and tensions with other countries, high-net-worth citizens are taking prudent steps to safeguard their wealth. 'The enduring value of an American passport is now paired with a growing desire for a backup plan,' said Spiro. 'Dual citizenship, once a luxury, is becoming the new American dream. In an era of rising uncertainty, many are seeking not just the right to stay, but the right to leave.' Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — According to Henley & Partners' data, most wealthy Americans are looking to park their portfolios in Europe, depending on each country's residence programs. Greece, Italy, Portugal, and Switzerland all offer highly incentivized citizenship/investment programs. Other countries in the Caribbean and Turkey are attractive because of their low tax rates. A surprising addition to the list is a place many people haven't heard of — Nauru in Micronesia. The tiny South Pacific Island is the third smallest country in the world after the Vatican and Monaco. However, it packs a mighty punch in terms of tax incentives and its gateway citizenship program, which allows visa-free entry to 89 other countries. , Despite the desire to have overseas options, Henley & Partners reports that most of the world's wealth is concentrated in the U.S., with over 6 million people able to invest $1 million or more — accounting for 37% of the world's millionaire population. 'America is the undisputed world leader when it comes to high-growth tech sectors such as software, microchips, online retail, internet hosting, social media, search engines and AI. As a result of this dominance, many tech entrepreneurs choose to move to the country in order to take their businesses to the next level,' the report says. Henley & Partners Chief Economist Jean Paul Fabri adds: 'The USA remains the world's best place to create and grow wealth, even if some opt to move elsewhere.' Read Next: Nancy Pelosi Invested $5 Million In An AI Company Last Year — 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. Image: Shutterstock Send To MSN: 0 This article Inquiries From Wealthy Americans Seeking Overseas Citizenship To Protect Their Assets Have Risen By A Staggering 183% In One Year originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
