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“Despite our best efforts in ACAS talks, TfL have failed to provide assurances on our members deeply held concerns around fatigue, reduced flexibility, shift lengths and the impact these proposals could have in a safety-critical role like tube driving.

Market overview

Geopolitical uncertainty

US President Donald Trump’s administration pursued unusually aggressive foreign policies during the first quarter of 2026. In early January, President Trump authorized a covert operation to arrest Venezuelan President Nicolás Maduro, who was

In the previous session, shares rallied 6% after the company announced that the U.S. Food and Drug Administration (FDA) has approved ZAYNICH (cefepime and zidebactam), a novel intravenous antibiotic for treating adults with complicated urinary tract infections (UTI), including pyelonephritis, caused by susceptible Gram-negative pathogens.

According to the company, ZAYNICH combines the fourth-generation cephalosporin cefepime with zidebactam and is designed to target multiple penicillin-binding proteins simultaneously. The antibiotic had earlier received Qualified Infectious Disease Product (QIDP) and Fast Track designations from the FDA.

The approval comes at a time when antimicrobial resistance remains a major healthcare challenge. Wockhardt cited data indicating that more than 2.8 million antimicrobial-resistant infections occur annually in the United States, resulting in over 35,000 deaths each year.

Wockhardt Q4 snapshot

The company reported a sharp turnaround in its March quarter performance and improved full-year earnings. The pharmaceutical company reported a net profit of Rs 164 crore in Q4FY26, compared with a loss of Rs 45 crore in the same period last year. Revenue rose 30% year-on-year to Rs 965 crore, up from Rs 743 crore in Q4FY25.
EBITDA also recorded strong growth of 147%, rising to Rs 196 crore from Rs 79 crore a year earlier.

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For FY26, Wockhardt posted revenue of Rs 3,373 crore, up 11% from Rs 3,033 crore in the previous year. EBITDA increased 51% to Rs 630 crore from Rs 418 crore, reflecting improved operating performance across segments.
Biotech operations were a key growth driver, contributing Rs 252 crore in the quarter, a 126% increase over Q4FY25. On a full-year basis, biotech revenue rose 27% to Rs 697 crore, supported by strong momentum in emerging markets, where growth exceeded 34%. Expansion was aided by new partnerships and deals across Thailand, Egypt, Algeria, and Latin America, while domestic biotech operations continued to grow at a double-digit pace.The company reported continued expansion in its product pipeline, with 15 filings, 13 approvals, and 23 launches in international markets. In biosimilars, it recorded 11 filings and 16 approvals, while the NCE segment saw 4 filings and 1 approval. It also secured approvals for EMROK O and EMROK injection in Uganda.

Wockhardt share price performance

The shares of the company have risen 41% in the last 1 year and about 233% in the last 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)

NEW YORK — GameStop Corp. shares slipped 0.24 percent to $21.13 in morning trading on Monday, June 1, 2026, as the meme stock continued to trade in a narrow range amid ongoing uncertainty about the company’s long-term strategic direction despite a substantial cash reserve.

The modest decline reflected cautious investor sentiment at the start of the new month, with limited catalysts to drive significant movement in either direction. Trading volume remained elevated compared to traditional retail stocks, consistent with GameStop’s status as a high-profile name that attracts both dedicated retail traders and short sellers.

GameStop has maintained a volatile trading pattern in 2026, with shares experiencing sharp swings driven by social media sentiment, short interest fluctuations and speculation around CEO Ryan Cohen’s plans for the company. The video game retailer has transformed into something of a holding company with significant cash on hand, but its core brick-and-mortar business continues to face structural challenges from the shift to digital gaming.

Strong Cash Position Provides Flexibility

One of GameStop’s clearest strengths remains its robust balance sheet. The company holds more than $4.6 billion in cash and equivalents, providing a significant financial cushion and strategic optionality. This war chest has fueled speculation about potential acquisitions, investments in new technology or even cryptocurrency-related initiatives under Cohen’s activist-influenced leadership.

Ryan Cohen, who took the helm after a successful proxy battle, has focused on operational efficiency and exploring new revenue streams. The company has reduced costs, streamlined inventory and explored e-commerce improvements, though physical store sales continue to decline as consumers shift toward digital downloads and online marketplaces.

Analysts note that while the cash position offers downside protection — valued at roughly $14 per share by some estimates — the traditional retail operations face ongoing pressure. Revenue trends remain challenged as the video game industry evolves rapidly away from physical media.

Analyst Consensus Remains Cautious

Wall Street coverage of GameStop is limited but consistently cautious. The average 12-month price target sits around $13.50, implying notable downside from current levels. Ratings are split between Hold and Sell, with many analysts citing limited visibility into Cohen’s long-term vision and the structural decline in physical game sales.

Some optimistic scenarios outside mainstream analyst circles project higher values if major strategic moves materialize, such as successful acquisitions or a pivot into technology or digital assets. However, conservative models place expected trading ranges between $12 and $28 for the year, reflecting skepticism about sustainable growth in the core business.

Short interest has moderated from earlier peaks but remains elevated compared to traditional retailers, sustaining the potential for volatility. The stock’s meme heritage continues to influence trading patterns, with social media sentiment often driving short-term moves disconnected from fundamentals.

Recent Performance and Strategic Moves

GameStop reported improved fiscal 2025 results, with net income rising 219 percent year-over-year to $418.4 million and free cash flow reaching $597.3 million. These figures reflect cost-cutting measures and better inventory management, though same-store sales continued to decline.

The company has explored various strategic options, including an unsolicited $56 billion bid for eBay that was rejected. Rumors of Bitcoin treasury strategies and other unconventional moves have circulated, highlighting Cohen’s willingness to think creatively about capital deployment.

Such speculation has kept the stock in the spotlight but has yet to translate into a clear, sustainable growth narrative for the retail operations. Investors remain divided between those betting on Cohen’s vision and those concerned about the long-term viability of physical game retail.

Risks and Challenges Ahead

GameStop faces several structural risks. The video game industry’s shift to digital distribution has reduced demand for physical copies, pressuring store traffic and margins. Competition from online retailers and digital platforms continues to intensify, making differentiation difficult.

Regulatory scrutiny around meme-stock trading and executive compensation remains a factor following past volatility. Potential dilution from capital-raising or share-based compensation could also weigh on shareholder value if not managed carefully.

On the positive side, the company’s cash position provides a significant buffer against downturns and optionality for transformation. Successful deployment of capital into high-return opportunities could shift the narrative and support higher valuations.

Investment Considerations for 2026

Investors evaluating GameStop face a classic high-risk, high-reward scenario. Those with strong conviction in Ryan Cohen’s ability to reinvent the company may see value in the cash-backed floor and potential for volatility-driven gains. However, fundamental analysts warn that without a credible long-term growth strategy, the stock could face sustained pressure.

Portfolio allocation should remain modest given the elevated volatility. Dollar-cost averaging or technical monitoring of support levels around $20 may appeal to speculative traders, while value-oriented investors often view the name as uninvestable at current valuations relative to declining operations.

Market participants should closely monitor short interest, options activity and any announcements regarding acquisitions or treasury strategies. Upcoming quarterly earnings will be critical for updates on operational performance and strategic direction.

Professional financial advice is strongly recommended before taking positions in highly volatile securities like GameStop. Market conditions can shift rapidly, and past performance does not guarantee future results.

Broader Market Context

GameStop’s trajectory reflects evolving dynamics in retail and technology sectors. While traditional video game retailers face existential questions in a digital-first world, the company’s meme heritage and activist oversight create unique optionality not found in standard equities.

As 2026 progresses, focus will remain on whether GameStop can transition from a legacy retailer into a more diversified technology or holdings company. The coming quarters will test management’s ability to translate its strong cash position into sustainable shareholder value.

For now, the prevailing Wall Street view leans toward reduced exposure. While the story retains speculative appeal for a segment of retail investors, most institutional analysis points to limited upside without major strategic breakthroughs.

GameStop remains one of the market’s most polarizing names. Its performance in the second half of 2026 will depend heavily on execution, market sentiment and the ability to capitalize on its financial flexibility amid industry challenges.

Monday’s modest decline represents normal trading fluctuations rather than a fundamental shift. With a substantial cash reserve and an activist CEO, GameStop continues to occupy a unique position in the market, offering both opportunity and risk for those willing to navigate its volatility.

Local plan says city centre is UK’s ‘most significant economic location outside London’

Manchester city centre is about to expand as an ‘engine of economic growth’ for the wider region and the north.

Labour-led Manchester council announced its aim to expand the city centre boundaries last September.

It would see inner-city areas fall into the new borders, including the Great Ducie Street area of Strangeways, part of Victoria North, Ancoats, New Islington, Manchester Science Park, and the Manchester Metropolitan University campus.

The blueprint was published in the council’s local plan, a document outlining the future development of the city.

It sets out a vision of an expanded Manchester city centre as the UK’s ‘most significant economic location outside London’.

Bosses leading the project say a bigger city centre area in Manchester will bring wide-ranging benefits, from a boost in housing to more jobs, green spaces, and infrastructure.

That includes public transport, roads, schools, healthcare, and becoming net zero by 2038.

‘Located at the heart of the transport connections across the North of England, its location at the hub of an extensive transport network makes it both an attractive and sustainable location for growth,’ Manchester council said in their report.

‘This will increase further with improvements to the transport infrastructure. In order to sustain this vital role as an economic driver, land needs to be made available and the city centre will need to expand with other areas identified for residential and economic growth.’

India Gerritsen, a researcher at think tank IPPR North, said an expanded Manchester city centre could improve lives far beyond its own boundaries if done right.

She told the Local Democracy Reporting Service (LDRS): “The city centre has been the engine of Manchester’s growth, and it is great that these plans focus on ensuring that growth and opportunity are extended to all boroughs and residents of Greater Manchester, so no area is left behind.

“We particularly welcome the plan’s focus on increasing genuinely affordable housing, strengthening social infrastructure, and tackling the root causes of economic inactivity, such as poor health. These are key to thriving communities and inclusive growth.”

The researcher said transport will be key to the success of the project.

She added: “Fast, reliable public transport connections – including trams and buses under the Bee Network extending outwards – will be central to making this work, and could provide a model for other cities.”

Work is taking place across the River Irwell in Salford too, with major regeneration work in the Greengate area of the city, as well as Salford Quays.

This has led to new homes, places to go out for food and drinks, and offices for businesses.

Salford’s deputy mayor, Mike McCusker, has been leading on that work.

“Greengate is a key part of the continued growth of the city centre and plays a vital role in strengthening Salford’s contribution to the regional economy,” he said.

“Located at the Salford–Manchester boundary, it is already being transformed into a high-density, mixed-use neighbourhood.

“The area has seen significant investment in recent years, including major commercial developments such as 100 and 101 Embankment.

“The focus is now firmly on residential growth, with new homes being delivered to support a growing city centre population as well as improved connectivity to link the area more effectively with surrounding communities.”

Councillor McCusker said Salford’s approach will see its own city centre area expand to include around the Crescent neighbourhood, and around Salford University.

He added: “Together, these initiatives demonstrate how Salford and Manchester are working collaboratively to sustainably grow the city centre, unlock new neighbourhoods and deliver long-term benefits for residents, businesses and visitors alike.”

In offices at Manchester council, regeneration, jobs and housing have long been part of the plan to improve lives in the city.

There’s an aim not just to build more but to make living conditions better too, and recent evidence appears to suggest the plan is working.

Data from Centre for Cities showed that levels of deprivation are sharply dropping in the inner-city areas of Manchester.

As for the plans to expand Manchester city centre, the project is moving forward wrapped up in the local development plan.

The next phase of the council’s plan will start this summer, with a review consultation process.

Adoption of the plan is expected in 2027, subject to government approval.

Councillor Gavin White is the lead on housing and development at the town hall.

He said the aims of expanding the city centre include a plan to build at least 10,000 council, social and genuinely affordable homes up to 2032 – with at least 3,000 in city centre locations.

Key regeneration plans in Strangeways, Holt Town in east Manchester, and Victoria North New Town regeneration behind Victoria Station are all part of the vision, with a ‘a positive knock-on effect’ on areas outside the city centre such as Collyhurst.

“Manchester’s city centre remains a key engine of economic growth for the city and the wider region,” he told the LDRS.

“A strong city centre economy is a cornerstone for economic success across Greater Manchester – and indeed the North in general.

“Our local plan is a guide to development in the city that, alongside a range of complementary strategies, makes sure Manchester remains successful, liveable and meets its vision for a place in which every resident has the chance to thrive.”

David Berman
Chief Development Officer

Hi, I’m David Berman, and I’d like to welcome you to the Moderna ASCO Oncology event. Here are forward-looking statements, and you can read them at your leisure.

Here’s the agenda for today. I’m going to review the — give you an overview of Intismeran, then Michelle Brown from Moderna is going to highlight the neoantigen selection and the mechanistic foundations of Intismeran.

We’re very honored to be joined by Dr. Matt Carlino, who will give a reprise of the Phase II KEYNOTE-942 study that he presented today. Dr. Ryan Sullivan will then join us. He presented translational data on Intismeran yesterday at ASCO and he’ll be sharing that data. And then I’ll conclude and we’ll have some questions and answers.

So for those of you I haven’t met, I’m the Chief Development Officer, and I joined Moderna about 3 months ago. About 20 years ago, I had the honor to participate in the world’s first checkpoint antibody for cancer that was ipilimumab. And over the past 7 years, I’ve had the honor to participate in the world’s first TCR therapy for cancer. And I joined Moderna 3 months ago because