The Twitter-24/7 Wall St. Stock Market Report 5.5 The Wisdom Of Crowds?

Twitter has, by most estimates, 100 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 tweet are a sign of which companies the Twitter universe is interested in. These financial sites are followed by a combined 625,000 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.

Among the daily top trending  symbols on stock twitter aggregator StockTwits are InterMune Inc. (NASDAQ: ITMN), BP plc (MYSE: BP) Standard & Poor’s Depository (NYSE: SPY), Standard & Poor’s 500 (NYSE: SPX), Pfizer Inc. (NYSE: PFE), and VIVUS Inc (NASDAQ: VVUS).

CNN Money: Private-sector employers add 32,000 jobs in April, according to payroll-processing firm ADP; 3rd consecutive month of gains. $$

NYTimes: Prudential Delays Its Share Sale http://nyti.ms/bAgM4s

CNN Money: Time Warner posts record quarterly profit http://bit.ly/aCbupQ

FT: Prudential delays $20bn rights issue: The UK insurance group delays publication of the prospectus for its $20bn ri… http://bit.ly/d3zHdw

FT: Murdoch considers cash pile options: The box office success of Avatar, James Cameron’s 3D science fiction epic, he… http://bit.ly/cjBXHZ

CNBC: 5 US Companies That May Have Big Europe Risk -> http://bit.ly/aGrjJV

Douglas A. McIntyre