Bullish Stocks That Surged Higher In The Past One Week: $AL $NGD $VER

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Air Lease Posts Revenue of $521 million in Q2 2020

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Air Lease Corporation (NYSE:AL) was up 6.94% over the past week. The company has announced its Q2 2020 revenue and earnings results which were solid despite the impact of the COVID-19 pandemic. Revenue in the quarter was $521 million of the quarter which was a 10.6% YoY increase while for 1H 2020 revenue was $1 billion which was an increase of 10.2% from 2019. Diluted earnings were $1.26 per share and $2.43 per share for Q2 2020 and 1H 2020 respectively.

Adjusted earnings were $1.71 per diluted share and $3.31 per diluted share for Q2 and 1H 2020 respectively. The company declared a quarterly dividend of $0.15 per share on Class A common shares payable on October 9, 2020.

NEW Gold Closes Sale Of Blackwater Project

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Another stock that surged higher in the last week is NEW Gold Inc. (NYSE:NGD) which was up 10.56%. The company has announced the closing of the previously announced sale of the Blackwater Project to Artemis Gold Inc. The total consideration of the transaction is $190 million in cash that will comprise an upfront payment of $140 million and $50 million that shall be paid on August 21, 2021.

Also, it comprises of 8% gold stream of gold production from the Blackwater Project which will drop to 4% after delivery of around 280,000 gold ounces to New Gold. The stream however will be subject to a transfer price of 35% of spot gold prices. The transaction will see New Gold receiving around 7.5 million common shares of Artemis of the aggregate value of $34.4 million.

Vereit Expand Partnership With Ocean West Capital With Acquisition in Dallas

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Olin Corporation (NYSE:VER) is also another bullish stock that is up 5.21% over the last one week. The company is expanding its industrial joint venture partnership following the $246.7 million acquisition of a 2.3 million sq. ft. distribution and warehouse facility in Dallas. The facility has a long term lease to Fortune 500 tenant and the acquisition will expand the partnership between the company, Ocean West Capital Partners, Korea Investment & Securities, and tiger Alternative Investors.

The investment group has together acquired $650 million worth of industrial assets in the last 15 months. The Dallas acquisition is the seventh property they have added to their portfolio focusing on single-tenant industrial assets.

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