The Twitter-24/7 Wall St. Stock Market Report 6.16.2010 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 most tweeted stocks on market aggregator Top Stock Tweets include EURUSD, Apple Inc (NASDAQ: AAPL), GBPUSD, Gaylord Entertainment Company (NYSE: GET), BP p.l.c. (NYSE: BP), Fedex Corporation (NYSE: FDX), and Federal Home Loan Mortgage Corporation (NYSE: FRE), and Federal National Mortgage Association (NYSE: FNM)MarketWatch: Freddie Mac to delist common and preferred stock from NYSE, as per conservator’s directive http://on.mktw.net/cIhJW8

CNN Money: Federal housing regulator directs Freddie Mac and Fannie Mae to delist from the New York Stock Exchange. $$

Reuters Biz: FedEx posts higher profit http://link.reuters.com/zyx32m

Reuters Biz: EU, IMF, US mull €250 billion credit line for Spain: report http://link.reuters.com/zyp32m

FT: Walmart extends its banking interests: Walmart has taken an equity stake in a rapidly expanding US financial compa… http://bit.ly/aUZDod

Daily Finance: FedEx Earnings Narrowly Beat Estimates http://bit.ly/d2hZ6X

Douglas A. McIntyre