Shares of Twitter, Inc. popped on Monday morning amid news that the company will partner with Bloomberg to provide 24/7 live streaming video content.
The Wall Street Journal first reported that Twitter is set to join forces with Bloomberg for non-stop streaming coverage of the financial news outlet. Bloomberg and Twitter will produce content exclusively for Twitter, 24 hours a day, seven days a week.
“It is going to be focused on the most important news for an intelligent audience around the globe and it’s going to be broader in focus than our existing network,” Bloomberg Media’s CEO Justin Smith told the Wall Street Journal.
Twitter’s stock price jumped up 6.40% to $17.53 per share in morning trading on Monday. The micro-blogging platform is a Zacks Rank #2 (Buy).
The social media platform also got a boost of confidence last Friday when founder and CEO Jack Dorsey tweeted that he purchased 574,002 shares of Twitter, amounting to $9.5 million worth of stock. Dorsey also purchased $7 million worth of Twitter stock in February.
The news of the partnership is set to be officially announced later today at an event hosted by Bloomberg founder Michael Bloomberg and Dorsey. However, Twitter’s 24/7 live streaming financial news is not set to begin until the fall.
Twitter’s Bloomberg news coverage will feature live reporting from the company’s worldwide news network. The streaming deal is also said to include a mixture of verified videos posted by Twitter users.
The two companies previously worked together last fall to live stream a September presidential debate. Videos were Twitter’s biggest advertising revenue generator in the first quarter of 2017.
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Here's Why Twitter (TWTR) Stock Soared Today
Shares of Twitter, Inc. popped on Monday morning amid news that the company will partner with Bloomberg to provide 24/7 live streaming video content.
The Wall Street Journal first reported that Twitter is set to join forces with Bloomberg for non-stop streaming coverage of the financial news outlet. Bloomberg and Twitter will produce content exclusively for Twitter, 24 hours a day, seven days a week.
“It is going to be focused on the most important news for an intelligent audience around the globe and it’s going to be broader in focus than our existing network,” Bloomberg Media’s CEO Justin Smith told the Wall Street Journal.
Twitter’s stock price jumped up 6.40% to $17.53 per share in morning trading on Monday. The micro-blogging platform is a Zacks Rank #2 (Buy).
The social media platform also got a boost of confidence last Friday when founder and CEO Jack Dorsey tweeted that he purchased 574,002 shares of Twitter, amounting to $9.5 million worth of stock. Dorsey also purchased $7 million worth of Twitter stock in February.
The news of the partnership is set to be officially announced later today at an event hosted by Bloomberg founder Michael Bloomberg and Dorsey. However, Twitter’s 24/7 live streaming financial news is not set to begin until the fall.
Twitter’s Bloomberg news coverage will feature live reporting from the company’s worldwide news network. The streaming deal is also said to include a mixture of verified videos posted by Twitter users.
The two companies previously worked together last fall to live stream a September presidential debate. Videos were Twitter’s biggest advertising revenue generator in the first quarter of 2017.
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Most of Zacks’ investment ideas are short-term, directly based on our proven 1 to 3 month indicator. In addition, I invite you to consider our long-term opportunities. These rare trades look to start fast with strong Zacks Ranks, but carry through with double and triple-digit profit potential. Starting now, you can look inside our home run, value, and stocks under $10 portfolios, plus more. Click here for a peek at this private information>>