FTS International shares ended the last trading session 8% higher at $27.56. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 8.1% loss over the past four weeks.

FTS International stock rose for the second straight day, driven by optimism over rising oil prices spurred by vaccine-related developments, accelerating economic growth and an improving demand picture. The recovery in crude prices to a more than two and a half year-high of over $70 a barrel has lifted the oilfield service space and contributed to the strength in the hydraulic fracturing provider.

This provider of hydraulic fracturing services is expected to post quarterly loss of $0.12 per share in its upcoming report, which represents a year-over-year change of +98.4%. Revenues are expected to be $77.1 million, up 161.4% 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 FTS International, the consensus EPS estimate for the quarter has been revised 67.6% 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 FTSI 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 >>>>