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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.

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

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