AZUL (AZUL Quick QuoteAZUL - Free Report) shares rallied 10.2% in the last trading session to close at $15.48. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 27.3% loss over the past four weeks.

Azul's shares gained following Delta Air Lines' comments on international travel demand. Management of the Atlanta-based airline heavyweight said that a 450% surge in international bookings was witnessed in the six weeks since the United States announced plans to reopen international borders. Brazil is one of the countries that the U.S. has decided to open up for fully vaccinated passengers. Naturally, Delta's bullish comments resulted in shares of the Brazilian carrier, Azul, gaining altitude..

This company is expected to post quarterly loss of $1.35 per share in its upcoming report, which represents a year-over-year change of +32.2%. Revenues are expected to be $457.94 million, up 205.6% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For AZUL, the consensus EPS estimate for the quarter has been revised 28.7% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on AZUL 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 >>>>