Investing
The Twitter-24/7 Wall St. Stock Market Report 7.22.2010 The Wisdom Of Crowds
Published:
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 Netflix (NASDAQ: NFLX), Baidu Inc. (NASDAQ: BIDU), GBPUSD, Ebay (NASDAQ: EBAY), and Yahoo! (NASDAQ: YHOO)MarketWatch: U.S. initial jobless claims rise by 37,000; continuing claims fall by 223,000 http://on.mktw.net/b9jORi
CNN Money: General Motors agrees to buy financing company AmeriCredit for $3.5 billion. $$
MarketWatch: GM agrees to buy AmeriCredit for $3.5 bln to address leasing, non-prime financing demand http://on.mktw.net/93XHLd
Reuters Biz: Caterpillar tops view, raises forecast http://link.reuters.com/tuz88m
Reuters Biz: AT&T beats profit view, raises outlook http://link.reuters.com
Yahoo! Finance: Caterpillar 2Q up 91 pct; raises outlook on higher production http://yhoo.it/dbFLny $CAT #earnings
Yahoo! Finance: China’s Baidu says 2Q profit more than doubles http://yhoo.it/bi5yjt #earnings $$
Daily Finance: Caterpillar Earnings Jump in 2Q; Company Raises Outlook for Year http://bit.ly/aUSu0g
Daily Finance: GM to Acquire AmeriCredit for $3.5 Billion http://bit.ly/cJEEeM
Douglas A. McIntyre
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