The Twitter-24/7 Wall St. Market Report 12.16.2010 Twitter Value, Jobless Claims

Twitter  has, by most estimates, 175 million members, which makes it one of the largest social networks in the world. All major media companies are on Twitter and some have more than one million Twitter users. It raises the question of whether there is wisdom in crowds.

24/7 Wall St. will look at the Twitter posts at Reuters Biz, WSJ, Financial Times, CNN Money, MarketWatch, CNBC, and 24/7 Wall St. each day to see which stocks are most frequently mentioned. It is clear that in this area of social media these tweets are a sign of which companies the Twitter universe is interested in. Together, these financial sites are followed by nearly 1,000,000 Twitter users, which makes them a sizeable sample of Wall St.’s interests. In some cases, we will publish the actual tweets from the sites

FT: Latest fundraising values Twitter at $3.7bn: Twitter’s latest fundraising has valued the company at $3.7bn, up s…http://bit.ly/e48OpM

FT: BP sued in $21bn US Gulf spill action: Eric Holder, US attorney-general: ‘We intend to prove these defendants ar…http://bit.ly/dFkwcp

MarketWatch: Jobless claims fall 3000 to 420000 – MarketWatch http://bit.ly/hePDdp

MarketWatch: FedEx profit falls 18% on higher costs – MarketWatchhttp://bit.ly/hdczTG

CNN Money: Housing starts fell 5.8% to 555,000 annual rate in November; building permits decline 14.7% to 530,000 annual rate, government says. $$

CNN Money: Number of people filing for initial unemployment benefits fell 3,000 to 420,000 in the latest week, the government says. $$

CNN Money: Record plunge in foreclosures, thanks to robo-signershttp://bit.ly/hwogD9

Reuters: YouTube wants Web show maker Next New Networks: reporthttp://reut.rs/hAA6zC

DailyFinance: Jobless Claims Fall 3,000 to 420,000http://aol.it/dIc5li

DailyFinance: FedEx Earnings Miss Wall Street Estimates, Raises Outlookhttp://aol.it/eFQjaT

Douglas A. McIntyre