Operator

Ladies and gentlemen, welcome to the Annual General Meeting of Shareholders of TMC the metals company Inc. Please note that today’s meeting is being recorded.

I would like to introduce you to Mr. Gerard Barron, CEO and Chairman of the company. Mr. Barron, the floor is yours.

Gerard Barron
CEO & Chairman of the Board

Well, good morning or good evening, wherever you are. My name is Gerard Barron, and I’m the Chairman of TMC the metals company Inc., and I am pleased to welcome you to our annual meeting. The meeting is being held virtually as we believe hosting a virtual meeting enables greater shareholder attendance and participation from any location around the world, improves meeting efficiency and our ability to communicate effectively with our shareholders and reduces the cost and the environmental impact of our annual meeting.

At the meeting, registered shareholders and duly appointed proxy holders will have an opportunity to participate, ask questions and vote, all in real time, through a web-based platform. And I would like to remind you that only registered shareholders that have logged in to the meeting with their previously obtained 12-digit control number or duly appointed proxy holders are entitled to vote at the meeting. Ask questions or take an active part in the meeting on the web-based platform. If during the meeting, we encounter any technical difficulties, please remain logged on, and we will resume as soon as practical.

I remind everyone that today’s meeting may include forward-looking statements. These statements are given as of today’s date and involve risks

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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

NEW YORK — NVIDIA Corp. shares rose modestly on Thursday, climbing 0.014 percent to $212.63, as investors continued to reward the chipmaker’s dominant position in artificial intelligence infrastructure amid strong demand for its advanced GPUs and software ecosystem.

The slight gain came in a session marked by broader market caution over geopolitical tensions and mixed economic signals. NVIDIA, widely regarded as the leading beneficiary of the global AI boom, has delivered exceptional returns in 2026, with the stock more than doubling year-to-date despite periodic pullbacks. The company’s market capitalization remains well above $5 trillion, cementing its status as one of the world’s most valuable public companies.

NVIDIA’s performance reflects sustained enthusiasm for its data center and AI platforms. The company’s H100, H200 and upcoming Blackwell series GPUs have become essential building blocks for training and inference workloads at major cloud providers, hyperscalers and enterprise customers. CEO Jensen Huang has repeatedly highlighted the transition to “agentic AI” systems that require massive computational power, a trend that continues to drive record demand for NVIDIA hardware and CUDA software.

Strong Fundamentals Underpin Performance

NVIDIA’s fiscal first-quarter results, reported in late February, showed explosive growth. Revenue reached $39.1 billion, up 262 percent year-over-year, while data center revenue alone surged 427 percent to $30.8 billion. Adjusted earnings per share hit $1.15, far exceeding expectations. The company raised its full-year guidance multiple times, citing “incredibly strong” demand across AI infrastructure.

Partnerships with Microsoft, Google, Amazon, Meta and Oracle have further solidified NVIDIA’s ecosystem advantage. The company’s CUDA platform remains the de facto standard for AI development, creating significant stickiness even as competitors attempt to challenge its dominance.

Analysts remain overwhelmingly bullish. The consensus rating stands at Strong Buy, with an average 12-month price target around $240–$260. Optimistic forecasts from firms such as Rosenblatt Securities reach as high as $300, citing continued AI capital expenditure cycles and NVIDIA’s expanding software and services revenue.

Valuation Debate and Market Risks

Despite the strong momentum, some voices have grown more cautious on valuation. At current levels, NVIDIA trades at elevated forward multiples, prompting concerns that the stock has priced in much of the expected near-term growth. A recent note from HSBC maintained a Hold rating while acknowledging the company’s technological leadership.

Geopolitical risks, particularly U.S.-China trade restrictions on advanced chips, remain a persistent headwind. NVIDIA has developed compliant products for the Chinese market, but any escalation could impact future revenue. Supply chain constraints on advanced packaging and high-bandwidth memory have also occasionally limited shipments.

Broader market sentiment has been mixed. While AI enthusiasm remains high, some investors worry about potential slowdowns in hyperscaler spending or delays in enterprise adoption. Thursday’s modest move reflects this balanced view — continued confidence in NVIDIA’s leadership tempered by profit-taking and macro caution.

Strategic Initiatives and Future Growth

NVIDIA has expanded beyond pure hardware into full-stack AI solutions. Its DGX Cloud offering, software platforms and Omniverse digital twin technology provide multiple revenue streams with higher margins. The company’s acquisition strategy, including the completed Run:ai deal, aims to strengthen its position in enterprise AI orchestration.

Looking ahead, the upcoming Blackwell architecture is expected to drive another wave of upgrades across data centers. Analysts project NVIDIA’s data center revenue could exceed $150 billion annually within the next few years if current trends hold.

The company also maintains leadership in gaming, professional visualization and automotive markets. Its DRIVE platform continues to gain traction in autonomous vehicles, while GeForce GPUs remain popular among gamers and creators.

Investment Considerations for 2026

For investors evaluating NVIDIA stock, the long-term case remains compelling due to its structural advantages in the AI megatrend. The company’s combination of hardware innovation, software moat and ecosystem lock-in creates a powerful competitive position.

Potential buyers may look for pullbacks toward the $190–$200 range for improved entry points, especially if broader market volatility creates opportunities. Long-term investors benefit from NVIDIA’s history of execution and exposure to multiple high-growth markets.

Those considering selling cite valuation risk and potential cyclical slowdowns in AI spending. However, the overwhelming analyst consensus and consistent earnings beats support a generally bullish outlook.

Diversification is recommended. While NVIDIA offers high-quality growth exposure, pairing it with more defensive holdings can help manage the volatility inherent in semiconductor stocks.

Broader AI and Semiconductor Context

NVIDIA’s performance mirrors strength across the AI supply chain. Companies involved in data centers, networking and memory have also seen strong demand. The company’s success has ripple effects throughout the technology sector, boosting suppliers and partners while pressuring traditional computing players.

As enterprises and governments increase investment in AI infrastructure, NVIDIA is expected to remain a primary beneficiary. Its ability to scale production and innovate rapidly has been a key differentiator.

Thursday’s modest gain reflects a mature market reaction to NVIDIA’s established leadership. While the stock no longer delivers the explosive daily moves seen in earlier AI hype cycles, its consistent upward trajectory underscores investor belief in its long-term potential.

As the year progresses, focus will shift toward Blackwell ramp-up, major customer announcements and quarterly results. NVIDIA’s execution on these fronts will determine whether current valuations prove justified or present further upside.

For now, the company continues to set the pace in the global AI race. Its modest move on Thursday adds another steady chapter to what has been one of the most remarkable stock stories of the decade.

If you want to know how to fix America’s housing crisis, look no further than the stark divide playing out along the Hudson River.

In Manhattan, where years of heavy regulation, strict zoning laws and a sub-2% vacancy rate have choked off new development, rents have just hit historic records. But in neighboring Jersey City, a massive post-pandemic building boom has forced landlords to compete on price, driving local rents down from their 2024 peaks and giving inflation-weary tenants a much-needed break.

According to the latest Zumper National Rent Report, Manhattan’s median one-bedroom rent rose to an all-time high of $4,680 in May 2026. But right across the Hudson in Jersey City, rents have leveled off at a median of $2,860 — remaining 2.1% lower year over year

THESE 5 CITIES ARE SEEING BIG HOME PRICE CUTS

One-bedroom rents in Jersey City peaked at $3,430 in mid-2024 before a massive supply correction pulled costs down to $2,650 by August 2025.

Zumper’s report shows that instead of stifling development, local housing supply surged in Jersey City, giving renters rare negotiating leverage when thousands of units hit the market simultaneously.

“Manhattan has largely sat out of the city’s rental construction boom, with developers favoring condos over rental buildings, and inventory has fallen for one of the longest stretches on record,” the report reads.

“New Yorkers simply aren’t moving,” Zumper said. “Nearly 90% of New York City renters stayed in the same unit they occupied a year earlier, which is far above the national average. With asking rents at record highs, the gap between what a sitting tenant pays and what the open market charges has rarely been wider, turning a move across town into a major financial decision.”

Two-bedroom units in New York City and San Francisco are now tied for the title of most expensive in the nation at $5,500. San Francisco’s one-bedroom rent also topped $4,000 for the first time this month.

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On a macro level, American renters are starting to feel the squeeze again as the national median one-bedroom rent increased 0.7% month over month to $1,519 in May, and two-bedroom rents rose 0.4% to $1,903.

“National averages are masking two very different housing markets right now,” Zumper CEO Shawn Mullahy wrote in the report. “In supply-constrained coastal cities, pricing power has returned quickly. Across much of the Sun Belt, operators are still working through the inventory wave delivered over the last several years. Demand is there, but supply still needs time to normalize.”

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Truck-maker Ashok Leyland on Thursday reported a consolidated net profit of nearly Rs 1,291 crore for the January-March quarter of the financial year 2026, marking a 14% year-on-year (YoY) rise from the Rs 1,130 crore net profit reported in the corresponding quarter of the previous financial year.

The firm’s revenue from operations meanwhile grew more than 17% YoY to Rs 17,246 crore during the quarter under review, as against Rs 14,695 crore reported in the year-ago period. Total expenses increased over 18% YoY to Rs 15,493 crore, while total income rose over 17% YoY to Rs 17,417 crore during the fourth quarter of the financial year which ended on March 31, 2026.

Along with the Q4 results, Ashok Leyland announced a second interim dividend of Rs 2.5 per share with a face value of Re 1 each for the financial year 2026. The dividend would be paid on or before June 26.

Ashok Leyland announces dividend

The record date to determine the eligibility of shareholders set to receive the payment has been fixed on June 3 (Wednesday). The company said that there will not be any final dividend for the financial year 2026.

Ashok Leyland said that its revenues overall rose 14% to Rs 44,007 crore during the financial year 2026, while profit increased 8% to Rs 3,566 crore, after a one-time charge of Rs 308 crore owing to the new labour code.
“Overall CV volumes scaled a new all-time high of 220,437 units, surpassing the previous peak of 197,366 units achieved in FY19. The CV Volumes in FY26 were up 13% from last year. LCV volumes set a new benchmark, reaching 74,322 units, well above the earlier high of 66,633 units in FY24. Export volumes also reached a historic high of 18,082 units, delivering a robust growth of 18.5% over the previous year’s 15,255 units. The Power Solutions and Aftermarket businesses continued their strong momentum, posting impressive growth during the year,” the company said.
What Ashok Leyland’s management says
Speaking about the company’s results, Ashok Leyland’s Chairman Dheeraj Hinduja said that achieving record-breaking milestones and delivering a strong financial performance across businesses is a matter of immense “pride for us”. “Our CV and export volumes were at an all-time high, reflecting the deep trust our customers place in us. The Company delivered significant growth in Power Solutions, Aftermarket and Electric Mobility businesses. Our Defence order pipeline is at its all-time high, signifying ability to deliver superior growth in the coming years. Our entry into Indonesia gives further boost to our ambition in global markets. The record financial performance is backed by relentless innovation, unwavering focus on customer satisfaction, and ability to accelerate our ambition in global markets. We are well-positioned to sustain profitable growth and create long-term value,” he added.

Ashok Leyland Managing Director & CEO Shenu Agarwal meanwhile said that FY26 was a defining year for the company, marked by record-breaking achievements across revenue, EBITDA, profitability and cash generation. “Our strong margin expansion reflects the success of our premiumization strategy, the resilience of our operations, and the growing strength of our diversified business portfolio. A record cash surplus of nearly Rs. 6,000 Cr provides us with significant firepower for enhanced investments in products, technology and future-ready solutions, while continuing to elevate customer experience. With consecutive three years of record performance, we are more confident than ever in our ability to strengthen our technology leadership, gain market share and further enhance price realization through superior value delivery,” he further said.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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Figure Technology Solutions, Inc. (FIGR) Bernstein 42nd Annual Strategic Decisions Conference May 27, 2026 3:30 PM EDT

Company Participants

Michael Tannenbaum – CEO & Director

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Conference Call Participants

Gautam Chhugani – Bernstein Institutional Services LLC, Research Division

Presentation

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Gautam Chhugani
Bernstein Institutional Services LLC, Research Division

Hi. Good afternoon, everyone. My name is Gautam Chhugani. I cover digital assets at Bernstein. One significant shift that’s happened in my space is I used to cover crypto, but native crypto has moved to what we call real-world assets. I think that’s where Figure fits in. So Mike, thanks for doing this.

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Question-and-Answer Session

Gautam Chhugani
Bernstein Institutional Services LLC, Research Division

I mean, Figure has had a bit of a history. You’ve been around for a while. How has that Figure vision evolved over time? Because there’s been regulatory shift, there’s been technological shift. Just like take us through that.

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Michael Tannenbaum
CEO & Director

Thanks for having me. The vision of Figure has actually been remarkably consistent since the beginning. And I think the company has been really purposeful in the way it’s built out marketplaces on blockchain rails. So if you go back — and that’s been consistent through a number of different regulatory environments, a number of different crypto winters and summers and also a number of different interest rate environments.

So I think Figure has been a business that’s thrived through all of those things. And to go back to the vision of the company when it was founded in 2018, Figure came out of SoFi in many ways. And SoFi, when I was there, we were doing about $1.5 billion a month of volume. And like many SoFi was not a bank then. Many nonbanks, you’re always thinking like how could you — how do you find a solution for all the assets you originate. And blockchain at

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Defence major Bharat Dynamics (BDL) on Thursday reported a standalone net profit of Rs 113.18 crore for the January-March quarter of the financial year 2026, marking a 58.5% year-on-year (YoY) drop from the Rs 272.77 crore net profit reported in the corresponding quarter of the previous financial year.

Revenue from operations more than halved, dropping nearly 73% YoY to Rs 480 crore during the quarter under review, as against Rs 1,777 crore reported in the year-ago period.

Total expenses also sharply declined to Rs 445.47 crore in Q4 FY26 from Rs 1,498 crore in the year-ago period. Total income fell to Rs 599 crore in the January-March quarter of FY26, from Rs 1,876 crore in the same period last year.

Along with the Q4 results, Bharat Dynamics said that its board of directors have recommended a final dividend of Rs 0.40 per equity share with a face value of Rs 5 each for the financial year which ended on March 31. This is however subject to shareholders’ approval at its upcoming Annual General Meeting (AGM).

BDL FY26 Results

For the entire financial year which ended on March 31, 2026, Bharat Dynamics reported a standalone net profit of Rs 420 crore, marking a 23% YoY drop from the Rs 550 crore net profit reported in FY25. The firm’s revenue from operations meanwhile fell 27% YoY to Rs 2,442 crore in FY26.
Total expenses also reduced to Rs 2,298 crore, while total income fell to Rs 2,866 crore during the financial year. Earnings per share (EPS) meanwhile fell to Rs 11.47 per share in FY26, from Rs 14.99 per share in FY25.
BDL share price
Bharat Dynamics announced its earnings on March 28, when markets were closed on account of Bakrid. The stock will be in focus tomorrow when markets reopen. The stock has fallen over 1% in one week, 7% in one month and are down 13% so far in 2026.

The shares of the defence player have declined 33% in one year, but gained over 145% in three years and 621% in five years.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Humber Doors Ltd, which traded as Summerbridge, has been a major supplier of kitchen, bedroom and bathroom furniture

Jobs have been shed at an East Yorkshire furniture manufacturer which has ceased operations after more than three decades in business. The Anlaby-based producer Humber Doors Ltd – which operated under the name Summerbridge – has been a significant supplier of kitchen, bedroom and bathroom furniture to numerous clients including developers, contractors and distributors across the leisure, housing and commercial sectors.

However, the firm filed a notice of intention to appoint administrators on 18 May. It is understood that directors are liaising with business advisers, and that the company has stopped trading ahead of an insolvency process.

The development comes eight years after Humber Doors Ltd stepped in to rescue Summerbridge, when it went into administration. The company had been established by the buyers, when they acquired the furniture business from administrators at the time.

Now, letters have been issued to staff at the Springfield Way premises confirming Humber Doors Ltd has ceased operations.

The letter, dated 18 May, which has been seen by Business Live, tells employees: “I write to inform you that a decision has been taken for the company to cease to trade and be placed into an Insolvency process. As a consequence, your contract of employment is terminated with immediate effect and today will be your last day worked.

“Dow Schofield Watts Business Recovery LLP has been instructed to assist the director with placing the company into administration.”

The letters note that the Government’s Redundancy Payment Service will be unable to process claims until after the date of administration, “which is expected to be this week”, reports Hull Live.

The most recent company accounts, covering the period up to the end of February 2025, reveal the business owed creditors approximately £1.8m, up from £1.4m the previous year. The firm employed 100 members of staff during that period, according to the filings.

Humber Doors was acquired by heating and bathroom supplier Kartell UK for an undisclosed sum in 2022, subsequently operating as an independent business within the Kartell UK group. That takeover came three years after Humber Doors Ltd was established following the collapse of Summerbridge into administration.

Humber Doors Ltd was set up in late October 2018 to take on the Anlaby-based manufacturer, securing around 100 jobs in the process. According to the company’s website, Summerbridge was established in 1992, with its Anlaby headquarters dedicated to the manufacture of kitchen, bedroom and bathroom furniture.

The site states that “our 80,000 sq ft facility is packed with the very latest in production technology and machinery, allowing us to design and manufacture products in a wide choice of finishes. We supply the trade; whether that be house developers, student accommodation companies, merchants, retailers or the leisure market with quality UK made products for these key rooms in the home.”

Dow Schofield Watts Business Recovery LLP has declined to comment.