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The social networking giant beat market expectations for profit and revenue yet again in the latest quarter, pushing up its shares to a record high on Thursday and allowing it to overtake Warren Buffett's Berkshire Hathaway Inc as the fifth biggest U.S. company by market capitalization. Facebook's shares rose as much as 4 percent to $128.33, boosting its market value by $14 billion to $367 billion - enough to eclipse Berkshire's market cap of about $355 billion. At least 24 brokerages raised target prices on Facebook's stock, with a median target of $150.
Turkey on Thursday reshuffled key military commanders sacking almost half of its generals in the wake of the failed coup, as authorities shut down dozens of media outlets in a widening crackdown. A hastily-convened military council meeting came after the government ordered the discharge of 149 generals -- nearly half of the armed forces' entire contingent of 358 -- for alleged complicity in the putsch bid. Separately, a total of 131 newspapers, TV channels and other media outlets were being shut down under the three-month state of emergency declared in the wake of the coup.