Ford Motor bucks trend, doubles Street's earnings expectations

Ford shares rose as high as $17.17 in early trading Thursday after closing Wednesday at $15.51

Ford Motor, charging forward with big investments in electric vehicles, raised its full-year profit forecast and said it will restore its dividend, sending the stock soaring as much as 11 per cent.

The automaker lifted its 2021 profit forecast for the second time in as many quarters and is now projecting $10.5 billion to $11.5 billion in earnings before interest and taxes. The reinstated quarterly dividend of 10 cents a share will be paid on December 1, the company said. Ford suspended the payout at the onset of the pandemic in March 2020.

Ford attributed the strong results to a let-up in