The Twitter-24/7 Wall St. Market Report (7/28/2010) The Wisdom Of Crowds?

Investing

Published: July 28, 2010 8:29 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.

FT: Tighter terms fail to crimp credit demand: ECB bank lending survey shows unexpectedly harsh tightening of loan sta… http://bit.ly/an3FLt

MarketWatch: Boeing affirms 2010 outlook as quarterly net, revenue drop on lower commercial deliveries http://on.mktw.net

FT: Apollo pursues Brit Insurance with third offer: Brit Insurance agreed to open its books to Apollo after the US pri… http://bit.ly/99NvKR

WSJ: BP is claiming a $9.9 billion tax credit in the U.S. from losses related to the Gulf oil spill http://on.wsj.com/deR4I1

Reuters Biz: Boeing quarterly profit falls, but beats forecast http://link.reuters.com/feg99m

Reuters Biz: Sprint loss widens, but subscriber numbers beat http://link.reuters.com/zag99m

Yahoo! Finance: BP Chairman: Gulf Accident ‘Should Never Have Happened’ http://yhoo.it/cXe39M $$ #oilspill $BP

Yahoo! Finance: Disney Buys Playdom For Up To $763.2M http://yhoo.it/cUQ7i9 $DIS $$

DailyFinance: Moody’s Lowers Outlook on BofA, Citigroup, Wells Fargo http://bit.ly/bRFT5j

DailyFinance: Boeing Earnings Drop, Reaffirms Guidance http://bit.ly/b01SCK

DailyFinance: BP Claiming $9.9B Tax Credit on Gulf Clean Up Costs http://bit.ly/c3MRjl

Douglas A. McInture

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