Afternoon BUZZERS: Sprint SURGES 20% on Strong Revenue, Zynga PLUMMETS

Exxon Mobil (NYSE:XOM) are up more than 1 percent in early afternoon trading, despite reporting a 48.9 percent rise in net income for the second. The oil giant earned $15.9 billion ($3.41 per share), compared to $10.68 billion ($2.18 per share) a year earlier. However, the results included $7.5 billion in gains from unexpected divestitures and tax-related items, according to Bloomberg.

Shares of Sprint Nextel (NYSE:S) surged nearly 20 percent today. Although the second quarter loss widened to $1.37 billion, compared to $847 million a year earlier, revenue jumped 6.4 percent to $8.84 billion. “The Sprint platform achieved best ever postpaid ARPU and customer churn that, combined with disciplined customer acquisition and cost management, contributed to our Adjusted OIBDA* of $1.45 billion,” said Dan Hesse, Sprint CEO. “Based on this performance, we are raising the 2012 Adjusted OIBDA* forecast to between $4.5 billion and $4.6 billion.”

Don’t Miss: Fed Chatter and Caterpillar Outlook LIFT Gold and Silver

Zynga (NASDAQ:ZNGA) shares plummeted almost 39 percent today. The social-gaming company on Wednesday reported earnings on an adjusted basis of $4.5 million (1 cent per share), compared to estimates of 5 cents per share. Facebook (NASDAQ:FB) shares also dropped more than 5 percent on the news. Zynga blamed its woes on Facebook’s new app platform.

Apple (NASDAQ:AAPL) shares edged slightly lower today after falling over 4 percent on Wednesday. According China’s First Financial Daily, the new iPhone 5 is set to be postponed due to a supply shortage in high-end chips used in the device. “Apple’s leading chip supplier, Qualcomm (NASDAQ:QCOM), will be able to tackle the 28nm chip undersupply only by the end of this year, said Qi Fei, a spokesman for Qualcomm China. The problem arose during the second quarter of this year, as demand for 28nm chips has been growing alongside the popularity of smartphones,” the agency reported.

Investor Insight: Apple and Netflix: Two HUGE Disappointments, One STRONG Company