Twitter-24/7 Wall St. Market Watch (7/23/2010)

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 Amazon.com (NASDAQ: AMZN), Netflix (NASDAQ: NFLX), AUDUSD, Goldman Sachs Group (NYSE GS), Baidu Inc (NASDAQ: BIDU), Sandisk (NASDAQ: SNDK), and GBPUSD.Reuters Biz: Schlumberger profit jumps 33 percenthttp://link.reuters.com/waw29m

MarketWatch: McDonald’s posts 12% growth in quarterly net income, outpacing global same-store saleshttp://on.mktw.net/aNjZI2

NYT: Ford Reports Quarterly Profit of $2.6 Billionhttp://nyti.ms/ciqrxI

CNN Money: Ford drives past forecasts http://bit.ly/cwqikO

MarketWatch: Ford says all automotive business operations profitable as quarterly net hits $2.6 billion http://on.mktw.net/bbVxx1

Yahoo! Finance: Dell paying $100M to settle #SECaccounting fraud charges; CEO Michael Dell paying $4 millionhttp://yhoo.it/c4DH4f $$ $DELL

Douglas A. McIntyre