Twitter soars after CNBC says Jack Dorsey stepping down

Shares of Twitter (TWTR) are moving higher after CNBC’s David Faber reported that its CEO Jack Dorsey will be stepping down from his executive role. Faber cited sources for the news. Twitter in premarket trading is up 11% to $52.13 while Square, where Dorsey is also CEO, is up 3% to $219.40.