Dish Network shares soared 11% in the last trading session to close at $40.94. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 1.4% loss over the past four weeks.

The upswing in share price came as the company announced a partnership with Amazon Web Services to deploy a 5G network on the cloud provider’s infrastructure. Dish will start operating the first standalone, cloud-based 5G Open Radio Access Network in the United States, beginning with Las Vegas later this year.

As part of the collaboration, Dish and Amazon will help develop 5G applications, such as low-latency augmented reality gaming experiences, serve contextual advertising, or orchestrate the movements of a robot at a disaster site.

Price and Consensus

This satellite television provider is expected to post quarterly earnings of $0.83 per share in its upcoming report, which represents a year-over-year change of +538.5%. Revenues are expected to be $4.52 billion, up 40.4% 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 Dish, the consensus EPS estimate for the quarter has been revised 4.4% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on DISH going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>