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Twitter is rallying after announcing a crackdown on abusive content (TWTR)

Twitter is up 2.62% at $18.40 a share after announcing it is launching a new set of features to combat hateful and abusive content.

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Initiatives include hiding abusive tweets, preventing banned users from creating new accounts, and introducing a new "safe search" function, according to Twitter's engineering chief Ed Ho in a blog post on Tuesday. The decision comes after years of criticism that the social media company hasn't done nearly enough to combat rampant abuse.

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Twitter is set to announce its fourth-quarter earnings on Thursday, February 9, 2017.

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