Ford delivered its third consecutive quarter of better than expected earnings this morning. As a result shares are soaring with their biggest gains in years. The stock crossed above its 200 day moving average earlier this week and is back to levels it hasn't seen since last November.
If today's gains hold, this will be Ford's first gain of 10% or more since April 2004 and could be the company's biggest one day gain ever. Here are the biggest one day moves of Ford:
- Oct. 21, 2002 - up 15.6%
- Nov. 21, 2002 - up 15.6%
- Oct. 15, 2002 - up 11.9%
- Apr. 17, 2000 - up 11.1%
- Sept. 5, 2000 - up 11.0%
There are 6 other times that Ford gained between 10 and 11% in a day, the last being April 21, 2004.
General Motors is also moving today. In contrast to Ford's 12 big days, GM has had only 6 moves of 10% or more in its history.