Stocks Higher as Energy Sector Leads; Twitter and Coca-Cola Tumble

The energy sector is leading stocks higher on Thursday.

Author:: Valerie Young
Publish date:: Feb 9, 2017 12:52 PM EST

Stocks traded higher as earnings reports drove the action Thursday. Oil prices gained.

All three indices hit intraday records, while the Nasdaq is aiming for its third straight consecutive record closing.

The energy sector was leading markets as West Texas Intermediate crude oil rose more than 1%, showing a nice rebound in oil prices over the last two days.

Shares of Twitter (TWTR) - Get Report fell close to 10% as fourth-quarter revenue at the company came in below forecasts. The social media company reported fourth-quarter revenue of $717 million. Fourth-quarter adjusted earnings were 16 cents a share, beating estimates of 12 cents. Twitter also posted flat sequential user growth in the fourth quarter.

Coca-Cola (KO) - Get Report shares fell after the company reported adjusted earnings of 37 cents a share, matching estimates, while revenue of $9.41 billion beat expectations. Net revenue for the quarter declined 6%, due to the "impact from foreign currency and structural changes," the company said.