Twitter (TWTR) - Get Report and news network Bloomberg are set to announce a partnership today as the social media network looks to launch a 24-hour streaming service with Bloomberg being the first content producer. 

"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 CEO Justin Smith told the Wall Street Journal

Twitter has been gearing up for its streaming service, increasing the number of hours it has broadcast to 800 in the most recent quarter from 600 hours the previous quarter. 

Twitter shares were up 6% to $17.47 per share with nearly 29 million shares changing hands as of midday compared to the stock's normal 19.3 million share per day volume. 

Editor's note: story has been updated since 11:35 am EST.