Goldman Warns World's Best Carry Trade at Threat From Lira Slide
Turkey's monetary authority is allowing the lira to depreciate against the dollar at a faster pace than usual, possibly to limit hot money inflows and counter exporters' complaints that the currency is overvalued, Goldman economists Clemens Grafe and Basak Edizgil said in a note on Wednesday.
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UnitedHealth makes Goldman's coveted hedge fund VIP basket that's up 15% this year
UnitedHealth was among the stocks that made the coveted Goldman Sachs "Hedge Fund VIP" basket last quarter as professional traders piled into the beaten-down insurer. The Wall Street bank analyzed the holdings of 981 fundamentally driven hedge funds with $3.8 trillion of gross equity positions at the end of the second quarter, based on regulatory filings. It then compiled a basket of the most popular long positions, consisting of 50 stocks that most frequently appear among hedge funds' 10-largest holdings. This VIP basket has outperformed the S & P 500 this year with a gain of 15%, compared to the S & P 500′s advance of more than 8%. This Goldman portfolio has a long history of beating the market with an outperformance of 50 basis points on average each quarter since 2001. UnitedHealth had 15 funds owning the stock as one of their top 10 holdings. New additions to the basket also included Skechers USA , Insmed , SharkNinja and Advanced Micro Devices . Goldman said hedge fund position turnover last quarter jumped to the highest level since 2021 due to the increased market volatility. UnitedHealth shares got a big boost, up 21% last week, after legendary investor Warren Buffett revealed a significant stake in the troubled insurer. The "Big Short" investor Michael Burry and Appaloosa Management's David Tepper also disclosed sizable stakes in the company. The top of the VIP list was occupied by the so-called Magnificent Seven names, such as Amazon , Microsoft , Meta Platforms , Google's Alphabet and Nvidia . Chipmakers Taiwan Semiconductor and Broadcom also were high up on the list.
Yahoo
27 minutes ago
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Big Trouble At Lockheed As Classified Program Blowups Trigger Billions In Losses
Lockheed Martin Corp. (NYSE:LMT) reported $1.8 billion in charges in the second quarter, led by a classified Aeronautics program and two Rotary and Mission Systems projects, prompting Bank of America Securities (BofA) analyst Ronald J. Epstein to trim his outlook. The analyst reaffirmed a Neutral rating and lowered his price forecast to $480 from $495, citing ongoing program challenges and limited near-term catalysts. Epstein said the recurring charges, which follow roughly $2 billion recorded in 2024, have shaken investor confidence. The latest write-downs included $950 million tied to a classified Aero effort, $570 million on Canada's Maritime Helicopter Program, and $95 million related to Turkey's utility helicopter the charges cut $5.83 per share from quarterly earnings. Additional hits came from a $66 million NGAD asset write-off and a $103 million tax adjustment, partly offset by state tax benefits. The bright spot remains the Missiles and Fire Control (MFC) unit, which Epstein identified as the primary driver of potential upside. Programs such as Long Range Anti-Ship Missile (LRASM), Joint Air-to-Surface Standoff Missile (JASSM), Patriot Advanced Capability-3 (PAC-3), and Guided Multiple Launch Rocket System (GMLRS) remain in high demand as the U.S. and allies replenish stockpiles. MFC's backlog rose 4% from 2024 and 25% over two years, signaling a strong pipeline. However, he added, supply chain constraints limit how fast the segment can scale, meaning it cannot fully counterbalance headwinds elsewhere. Looking ahead, BofA lowered its adjusted EPS forecast for 2025 to $21.95 from $27.30. Projections for 2026 and 2027 were also reduced slightly. Epstein set his price forecast at $480, down from $495, based on a 12x EV/EBITDA multiple on 2026e, a level he sees as capped at Lockheed Martin's 10-year historical average while the company works through margin pressure and tax headwinds. Epstein flagged additional risks, including a potential $4.6 billion IRS tax dispute, program execution challenges, and budget-related uncertainty around the F-35. While long-term demand for missiles remains supportive, Epstein said Lockheed Martin may remain in the penalty box until management resolves program issues and restores investor confidence. U.S. Army Awards $720 Million Contract for JAGM, HELLFIRE Production Additionally, Lockheed Martin on Thursday announced it has secured a $720 million contract from the U.S. Army to produce Joint Air-to-Ground Missiles (JAGM) and HELLFIRE missiles, marking the fourth and final follow-on award under its current multi-year agreement. The deal will support U.S. Army, Navy, and international customers, including a Foreign Military Sales order of 160 JAGMs for the United Kingdom and HELLFIRE deliveries to NATO allies Poland, Spain, Czech Republic, Italy, and new customer Canada. Price Action: LMT shares are trading lower by 0.12% to $445.62 at last check Thursday. Read Next:Image by MC MEDIASTUDIO via Shutterstock Latest Ratings for LMT Date Firm Action From To Mar 2022 Wells Fargo Maintains Equal-Weight Mar 2022 Morgan Stanley Maintains Overweight Feb 2022 Wolfe Research Upgrades Peer Perform Outperform View More Analyst Ratings for LMT View the Latest Analyst Ratings 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? LOCKHEED MARTIN (LMT): Free Stock Analysis Report This article Big Trouble At Lockheed As Classified Program Blowups Trigger Billions In Losses 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
Associated Press
30 minutes ago
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A Hair Transplant Journey Starting in the UK, Completed in Turkey
ISTANBUL, TURKEY / ACCESS Newswire / August 21, 2025 / Established in Turkey, Esteworld now offers face-to-face consultations in London and continues its operations in its state-of-the-art hospitals in Istanbul. This combines clinical quality with the value that has made Turkey a global destination. Post-procedure care is provided in the country where the procedure was performed. August 20, 2025 Esteworld announced the launch of a new office in London, marking the next step in the brand's international growth. Having built its reputation by delivering hair transplant in Turkey services, Esteworld is expanding access for UK and European patients who want local guidance before and after surgery, with the procedure itself performed by experienced teams in Istanbul. 'Patients told us they want two things: the clinical excellence and value associated with Turkey, and the convenience of a local touchpoint,' said an Esteworld spokesperson. 'Our London office brings those together. People can receive assessments, treatment planning, and follow-ups close to home, while their surgical journey remains anchored in our established Turkish hospitals.' A seamless UK-Turkey care pathway The London location is designed for consultations (not surgical procedures) so patients can meet a medical consultant, discuss candidacy, choose the most suitable hair transplant method, and understand the expected timeline before traveling. This model makes the experience more accessible for patients who prefer face-to-face guidance without sacrificing the standards and efficiencies that Turkey offers. A great opportunity for those who cannot have a hair transplant in London. In Istanbul, Esteworld performs procedures such as FUE (Follicular Unit Extraction), Sapphire FUE, DHI (Direct Hair Implantation), and unshaven approaches for qualifying candidates. Technique recommendations are individualized, taking into account donor density, hair caliber, curl pattern, hairline design goals, and long-term planning to maintain a natural look as hair loss progresses. About Esteworld Established in 1994, Esteworld is an international healthcare group specializing in hair transplantation, plastic surgery, medical aesthetics, and dental aesthetics. With a network spanning 35+ countries, Esteworld delivers end-to-end patient pathways through coordinated local offices and advanced hospital facilities. Esteworld's hair restoration portfolio includes FUE, Sapphire FUE, DHI, and suitable unshaven approaches, supported by standardized clinical protocols, donor management strategies, and natural hairline design principles. Multilingual patient coordination, transparent pricing structures, and comprehensive post-operative follow-up are integral to the group's service model. Combining high surgical experience with evidence-based practice and rigorous safety standards, Esteworld focuses on outcomes that look natural and remain sustainable over time. The group's integrated approach aligns medical necessity with aesthetic goals, providing patients a reliable, seamless, and internationally accessible care experience. Why Turkey remains a leader in hair transplantation Turkey's prominence in hair restoration stems from high surgical volumes, specialized teams, and a service model that streamlines logistics for international patients. Many clinics (Esteworld included also) organize airport transfers, translation assistance, and post-operative kits to reduce friction during a short medical stay. The combination of experience, coordinated care, and competitive pricing has drawn patients from around the world. About hair transplant prices in Turkey While pricing always depends on the clinic, technique, surgeon seniority, and graft count, Turkey is widely recognized for cost-effective options compared with Western Europe and North America. Patients commonly encounter two pricing structures: Because individual needs differ (some require 2,000 grafts, others 4,000 or more) final costs are best determined after a professional evaluation that considers donor capacity and long-term hair-loss patterns. Esteworld emphasizes transparent quoting so patients understand exactly what is included before traveling. What patients can expect with Esteworld Consultation & candidacy: At the London office, patients receive a structured assessment that reviews medical history, scalp condition, and donor area. The consultant discusses realistic outcomes, hairline philosophy, and potential graft counts, and sets expectations around the growth timeline. Technique selection: FUE and DHI are the most frequently recommended techniques. FUE involves extracting follicular units individually and implanting them into micro-channels; Sapphire FUE uses sapphire-tipped tools for channel creation; DHI places grafts with pen-like instruments that allow precise angle and direction. The goal is to harmonize density, direction, and hairline shape with each patient's unique features. Surgery in Istanbul: Procedures are performed by dedicated teams in Esteworld's Turkish hospitals, where standardized protocols govern anesthesia, sterile technique, graft handling, and recipient site creation. High case volumes help refine micro-surgical skills and consistency, supporting natural, age-appropriate results. Safety, ethics, and realistic expectations Hair transplantation is a medical procedure, not a commodity. Esteworld advocates for evidence-based practice and thorough informed consent. Not every patient is an ideal candidate. Donor limitations, diffuse thinning, scarring alopecia, or certain medical conditions may call for conservative plans or a staged approach. Adjunct therapies (including topical agents, oral medications when appropriate, low-level laser therapy, and PRP) may be discussed as part of a personalized long-term strategy. A natural outcome depends on more than graft numbers. Key variables include the hairline's anatomic placement, graft angulation, distribution in zones of visual priority, and respect for future hair-loss progression. Esteworld's planning process prioritizes long-term aesthetics to avoid an unnaturally dense front with inadequate reserves for later. The patient journey, step by step Value without compromise By originating in Turkey and later opening a London office, Esteworld aims to combine the best of both worlds: the experience and efficiencies that come from a leading hair transplant Turkey ecosystem, and the reassurance of local, ongoing support. For many, this hybrid model shortens decision time, clarifies expectations, and maintains continuity from first conversation to final results. 'Patients deserve clarity,' the Esteworld spokesperson added. 'Our approach is to explain the medical reasoning, set goals that make sense for the long term, and deliver attentive aftercare. Opening in London lets us do even more of that, face-to-face.' Media Details : Name: Burak Tuncer E-mail: [email protected] Phone number: +90 216 474 54 54 Web: SOURCE: Burak Tuncer press release
