Trip.com (TCOM Quick QuoteTCOM - Free Report) shares soared 8.1% in the last trading session to close at $53.06. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 15.9% gain over the past four weeks.

Shares of Trip.com Group appreciated after China announced significant stimulus measures, its biggest since the pandemic.

This travel services company is expected to post quarterly earnings of $0.94 per share in its upcoming report, which represents a year-over-year change of -6%. Revenues are expected to be $2.2 billion, up 16.6% 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 Trip.com, the consensus EPS estimate for the quarter has been revised 1.2% 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 TCOM 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 >>>>

Trip.com is a member of the Zacks Leisure and Recreation Services industry. One other stock in the same industry, Carnival (CCL Quick QuoteCCL - Free Report) , finished the last trading session 1.3% lower at $18.73. CCL has returned 14.3% over the past month.

Carnival's consensus EPS estimate for the upcoming report has changed +15.1% over the past month to $1.16. Compared to the company's year-ago EPS, this represents a change of +34.9%. Carnival currently boasts a Zacks Rank of #1 (Strong Buy).