Sprint Nextel Corp. (NYSE:S) is up 14.84% this morning at $3.87. S has traded 3.9 million shares in pre market trading and trades 50.3 million shares a day on average. S shares are rallying in pre market as second quarter sales beat estimates. Sprint reported a wider loss for the second quarter of $1.37 billion, or $0.46 a share. Analysts were expecting a loss of $0.41 a share. The company has a market cap of 10.11 billion.

Zynga, Inc. (NASDAQ:ZNGA) is down 40% in pre market trading at $3.05. ZNGA has traded 1.2 million shares this morning and trades 23.9 million shares a day on average. ZNGA shares are tanking after the company reported bad earnings and severely cut its outlook. Zynga reported adjusted earnings of just a $0.01 per share, below expectations of $0.05 per share. The company has a market cap of 3.74 billion. [Read more...]