Ford Follows General Motors Lead With A Solid Q2 Beat

em>Joel Elconin is the co-host of

, a daily trading idea radio show.

Ford

shares are trading higher by $0.25 at $14.80 in Tuesday's session. The catalyst for the rally is a Q2 beat for EPS ($0.47 vs.Est. $0.37) and for sales ($37.3B vs. Est. $35.3B). In addition, the company maintain FY 2015 profit guidance at $8.5-$9.5B). The strong beat instigated a higher open ($14.96 vs. Monday's close of $14.55). However, institutional sellers at the $15 capped the initial rally. The ensuing decline found support at exactly Monday's high ($14.60) and provided the base for the rebound to the $14.80 level. Ford shares have been an underperformer this year, having a decline of nearly five percent compared to the broad market gain of approximately one percent. It should be noted Ford followed suit of General Motors

, which also turned in an impressive Q2 performance.