Exxon Mobil (XOM) Gains Despite Earnings Cut

Exxon Mobil Corp.

shares hiked 4.6% to $79.20, after the oil giant said its earnings were slashed in half due to the slump in crude-oil prices. Exxon posted a second-quarter profit of $4.19 billion, or $1 a share, down from $8.78 billion, or $2.05 a share, a year earlier. Share volume was 3.6 million, compared to an all-day average of 3.1 million