The Twitter-24/7 Wall St. Market Report (9/14/2010)

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.

MarketWatch: Nokia’s chairman will step down by 2012 general meeting http://on.mktw.net/cw2qQU

MarketWatch: Best Buy lifts fiscal-year profit forecast to reflect buybacks as operating margin widens http://on.mktw.net/ciR8CU

ZeroHedge: Goldman’s Kostin Turns Bearisher, Suggests More Defensive Mix Of Stocks http://bit.ly/aoWDhU

CNN Money: Buffett: No double-dip recession http://bit.ly/bXzXpH

Reuters Biz: Nokia strikes back with new phones for new bosses http://reut.rs/cYdl2a

Reuters Biz: AIG formulating plan to exit government ownership: report http://reut.rs/amJFLh

DailyFinance: AIG Looks to Speed Up Exit Plan http://bit.ly/9cqRvT

Douglas A. McIntyre