Bluescope 1H22 Earnings

Posted on | by Leon Hinde

BlueScope Steel is under Algo Engine buy conditions.

With $285M of stock bought since August 2021, the Board has approved an increase in the scale of the buy-back program to allow up to a further $700 million to be bought over the next 12 months

BlueScope delivers record underlying EBIT of $2.20Bn, increases on-market buy-back; commences feasibility, analysis on blast furnace reline at Port Kembla

1H FY2022 Headlines
Reported NPAT: $1.64Bn
Underlying NPAT: $1.57Bn
Underlying EBIT: $2.20Bn

2H FY2022 GROUP OUTLOOK: Underlying EBIT in 2H FY2022 is expected to be in the range of $1.20 billion to $1.35 billion.

Reece 1H22 Earnings

Posted on | by Leon Hinde

Reece is under Algo Engine buy conditions. 1H22 result was above expectations, with underlying EBITDA increasing 14% to $397m. US performance was a key highlight and we expect 5 -7% EPS growth into FY23.

The stock trades on a forward yield of 1.5%.

Polkadot – Large Cap Crypto

Posted on | by Leon Hinde

Polkadot Crytop is now under Algo Engine buy conditions after creating a higher low formation and a pivot low at $14.15.

The price action has been supported by increased buying activaty above the $14.15 pivot low and we now have two trading sessions that have closed above the 10-day average.

Polkadot is an open-source platform that allows for distributed computing. The protocol was adapted by the Ethereum co-founder Gavin Wood and is developed by the Web3 Foundation with the initial implementation by Parity Technologies.

Polkadot’s first token sale closed on October 27, 2017, raising a total of 485,331 ETH (Ether, the currency of the Ethereum blockchain).

Polkadot allows for cross-chain transfers of data or assets, between different blockchains, allowing for cross-chain DApps (decentralized applications) to be built using the Polkadot Network.

The Polkadot network has a primary blockchain named relay chain and many user-created parallel chains called parachains. The beating heart of Polkadot is called the Relay Chain. It is the origin of the network’s shared security and consensus and facilitates cross-chain interoperability. Parachains can be attached to the Relay Chain and used for transaction verification and validation.