Chronicle Journal: Finance

Parabolic SAR Signals Bullish Stocks: $EHC $BG $GFL

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Encompass Health -To Build Rehabilitation Facilities In Jacksonville and St Augustine

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Encompass Health Corp. (NYSE:EHC) is trading above its Parabolic SAR of $62.10, thus the stock looks bullish. The pandemic impacted health organizations that faced unpredictable staffing situations, rising equipment costs, and volatile census swings. Among those that have experienced torrid time is Encompass Health but its head April Anthony is optimistic about the future although it will take time for things to return to pre-pandemic levels.

The Health care provider is planning to set up two rehabilitation hospitals o First Coast at St Augustine and Jacksonville. In Jacksonville, the company plans to have a 50-bed facility that will open in 2H of 2022. Currently, the company has 400 locations across the US.

Bunge Makes $30 Million Investment In Merit Functional Foods

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Another stock looking bullish is Bunge Ltd. (NYSE:BG) which is trading above its Parabolic SAR of $48.05. The company has partnered with Merit Functional Foods to introduce canola and pear protein to the market. The collaboration will accelerate the construction of Merit Functional Food's ultramodern plant-based protein manufacturing plant located in Manitoba. Bunge will invest $30 million in Merit thus acquiring a minority stake in the company which will have the only facility that can produce food-grade canola protein globally.

The company has also announced that its subsidiary Bunge Limited Finance Corp has priced its public offering of $600 million in total principal amount of its 1.63% Senior Notes Due 2025.

GFL Environmental Announces Pricing Of $600 Million Offering

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GFL Environmental Inc. (NYSE:GFL) is also another bullish stock that is trading above its Parabolic SAR of $17.19. The company recently announced the pricing of $750 million in principal amount of the 3.75% senior notes due 2025 through an oversubscribed transaction. The company increased the offering by around $150 million from its initially announced size of $600 million. The net proceeds of the transaction will be used for corporate purposes that include acquisitions.

Also, the company announced the signing of an agreement with a partner of Macquarie Infrastructure Partners II to acquire WCA Waste Corporation and its subsidiaries for $1.212 billion. The company will finance the acquisition in part from net proceeds of the $600 million public offerings and through revolving credit facility and cash on hand.

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