JetBlue Airways JBLU shares ended the last trading session 14.2% higher at $7.30. 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 18.6% gain over the past four weeks.

This jump in stock price came after news that Spirit Airlines SAVE, a JBLU rival in the low-cost airline space, is considering bankruptcy. Spirit has faced losses and declining revenue due to fierce competition and failed attempts to merge with Frontier Group ULCC in 2022. After agreeing to a takeover by JetBlue, that deal fell through this year over antitrust concerns. Soon after the markets opened last Friday, Spirit's shares plunged by 25%.

This airline is expected to post quarterly loss of $0.29 per share in its upcoming report, which represents a year-over-year change of +25.6%. Revenues are expected to be $2.35 billion, down 0.3% 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 JetBlue, the consensus EPS estimate for the quarter has been revised 27.3% 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 JBLU 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 >>>>

JetBlue is part of the Zacks Transportation - Airline industry. United Airlines UAL, another stock in the same industry, closed the last trading session 6.5% higher at $59.22. UAL has returned 23.3% in the past month.

For United , the consensus EPS estimate for the upcoming report has changed +1.6% over the past month to $3.07. This represents a change of -15.9% from what the company reported a year ago. United currently has a Zacks Rank of #3 (Hold).

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JetBlue Airways Corporation (JBLU) : Free Stock Analysis Report

United Airlines Holdings Inc (UAL) : Free Stock Analysis Report

Spirit Airlines, Inc. (SAVE) : Free Stock Analysis Report

Frontier Group Holdings, Inc. (ULCC) : Free Stock Analysis Report

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