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U.S. Stocks Gain but Twitter, Coca-Cola Tumble

Twitter shares plunged early Thursday on poor earnings and Coca-Cola fell on a disappointing outlook, but on the broader market U.S. stocks edged higher.

Twitter dived 11 percent after reporting a fourth-quarter loss of $167 million following only modest gains in the number of users on the social network.

Dow member Coca-Cola fell 2.6 percent after projecting lower 2017 earnings per share and a drop in the fourth quarter of last year.

About 15 minutes into trading, the Dow Jones Industrial Average stood at 20,088.84, up 0.2 percent.

The broad-based S&P 500 also gained 0.2 percent to 2,299.22, while the tech-rich Nasdaq Composite Index rose 0.3 percent to 5.697.98.

The Nasdaq closed at a record high Wednesday, while the Dow and S&P 500 were also close to all-time peaks.

Earnings were at the center of the market's focus with the absence of major U.S. economic data.

Among other companies reporting results, CVS Health lost 1.3 percent, Whole Foods Market rose 1.1 percent and Yum Brands added 0.8 percent.

Health insurer Cigna fell 1.1 percent after a federal judge blocked its acquisition by rival Anthem due to antitrust concerns. Anthem, which was up 0.2 percent, said it would appeal the decision.

Source: Agence France Presse


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