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: Twitter stock gains after report says CEO Jack Dorsey plans to step down from top post

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Shares of Twitter Inc. are surging Monday after CNBC reported that Chief Executive Jack Dorsey plans to step down from the top post at the social-media company.

Twitter shares
TWTR,
+3.42%

were up 5% in Monday morning trading. Shares of Square Inc.
SQ,
-0.26%

rose as much as 4.0% but gave back those gains and were recently off 0.6%. Dorsey also serves as the CEO of Square.

The CNBC report cited unnamed sources. Twitter didn’t immediately respond to MarketWatch’s request for comment.

Twitter shares have declined 21.7% over the past three months as the S&P 500
SPX,
+1.02%

has risen 2.8%. The stock closed at a 10-month low on Friday.

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