The Twitter-24/7 Wall St. Stock Market Report 7.21.2010 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 StockTwits are Apple, Inc (NASDAQ: AAPL), Goldman Sachs Group (NYSE: GS), Yahoo!, Inc (NASDAQ: YHOO), IBM (NYSE: IBM), Google, Inc. (NASDAQ: GOOG),  Bank of American Corporation (NYSE: BAC), and Johnson & Johnson (NYSE: JNJ)DailyFinance: The 10 Biggest Brand Disasters of 2010 http://bit.ly/d8U8WF

DailyFinance: Coca-Cola Earnings, Revenue Higher; Global Economy Concerns Remain http://bit.ly/aaSzCM

DailyFinace: BP Denies That Hayward Will Step Down as CEO http://bit.ly/cdk78c

CNN Money: Morgan Stanley reports a second-quarter profit of $1.4 billion, reversing a loss from a year earlier and topping estimates. $$

Reuters Biz: Coca-Cola posts higher profit http://link.reuters.com/ceb78m

FT: BP to sell $7bn in assets to Apache: The embattled UK oil group is accelerating divestments in an attempt to allay… http://bit.ly

FT: Race for control of Lions Gate takes new twist: Carl Icahn’s latest move on the Hollywood studio comes just 24 hou… http://bit.ly/b1sD6w

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Douglas A. McIntyre