The Twitter-24/7 Wall St. Stock Market Report 5.14 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 Baidu Inc (NASDAQ: BIDU), Netflix Inc (NASDAQ: NFLX), Cisco Systems (NASDAQ: CSCO), United States Natural Gas (NYSE: UNG), Coinstar Inc (NASDAQ: CSTR), BP plc (NYSE: BP), Morgan Stanley (NYSE: MS).

CNN Money: How big banks can regain Main Street cred http://bit.ly/bLmL66

WSJ: The law that will help determine liability in the massive Gulf oil leak was written in… 1851 http://on.wsj.com/c8xPIB

WSJ: New 52-week low for the euro against the U.S. dollar. The currency slipped to $1.2532 in late trading http://on.wsj.com/bBpe27

FT: Soros takes stake in Alibaba: Alibaba has revealed that George Soros, the legendary US investor, has taken a stake… http://bit.ly/cCFdsK

FT: Blankfein comes to Chicago bank’s aid: Lloyd Blankfein, Goldman Sachs chief executive, is playing a personal role … http://bit.ly/9XAmhg

Reuters Biz: Deutsche Bank CEO doubts Greece can repay debt: report http://link.reuters.com/daz24k

Douglas A. McIntyre