The Magpies manager Alan Pardew is keen to re-enforce his attack for the coming season.
Newcastle are closing in on Lyon striker Bafetimbi Gomis and QPR front man Loic Remy, the Daily Telegraph reports.
The clubs director of football Joe Kinnear is negotiating with Lyon and submitted an increased bid for Gomis on Friday evening.
It is believed that Kinnear is confident that a deal for the player will be completed by the beginning of next week, meaning the Magpies will have their first signing of the summer.
A deal for Remy may not be far off either, with Newcastle having offered to sign the French striker on a season long loan with the promise of a permanent deal next summer.
QPR would rather sell the Frenchman now and would accept bids of £6.8 million but if a permanent deal can’t be done, they are happy to let him leave on loan so that they can trim their wage bill.
Newcastle’s fans have been worried by the clubs lack of activity in the transfer market this summer but will be buoyed by the news that they could have two new arrivals next week.
Gomis only has one year left on his contract at Lyon and it is believed that he has gone on striker at the French club in order to force through a move to the Premier League.