The Twitter-24/7 Wall St. Stock Market Report 7.15.2010 The Wisdom Of Crowds

Investing

Published: July 15, 2010 8:55 am

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 StockTwits are Apple Inc. (NASDAQ: AAPL), Intel Corporation (NASDAQ: INTC), BP plc (NASDAQ: BP), EURUSD, and GDPUSD.

CNN Money: Number of people filing first-time jobless claims hits lowest level since August 2008, falling 29,000 to 429,000 in latest week. $$

The Economist: Dull debut for Agric Bank China; Glaxo sets aside $2.4bn over Avandia; JPMorgan beats expectations; AIG rows http://ow.ly/2bNqh

CNN Money: JPMorgan Chase earns $4.8 billion http://bit.ly/aEbeCQ

MarketWatch: J.P. Morgan Chase earnings surge after reducing loss reserves by $1.5 billion http://on.mktw.net/agPSNF

MarketWatch: Foreclosures fall 5% http://bit.ly/aolrV2

FT: Glaxo to take £1.6bn charge to settle legal battles: Drugs group moves to resolve resolve several long-running leg… http://bit.ly

FT: Agricultural Bank in muted Shanghai debut: Agricultural Bank of China’s shares opened up about 1 per cent from the… http://bit.ly/cMH8t1

Douglas A. McIntyre

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