Ford Motor Company (F Quick QuoteF - Free Report) shares soared 6.7% in the last trading session to close at $13.33. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 4.6% gain over the past four weeks.

Shares of the U.S. auto giant surged more than 6% on Friday, following the announcement of its partnership with SK Innovation to manufacture battery cells and array modules in the United States. For Ford, SK Innovation will prove to be an ally in providing batteries with better range and value for its electric vehicles by mid-decade. The deal highlights Ford’s commitment to vertically develop battery capabilities and rev up its position in the e-mobility game.

Price and Consensus

This company is expected to post quarterly loss of $0.40 per share in its upcoming report, which represents a year-over-year change of -14.3%. Revenues are expected to be $21.33 billion, up 28.3% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Ford Motor Company, the consensus EPS estimate for the quarter has been revised 292.3% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on F going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>