The Twitter-24/7 Wall St. Market Report 10/4/2010 Genzyme Targets, Verizon Rebates

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.

The Economist: UBS, C Suisse will need big capital increase; Sanofi launches Genzyme bid; 50% AIA stake expected to be sold http://ow.ly/2O08C

MarketWatch: Sara Lee surges 17% in premarket on report that it spurned takeover by equity firm KKR http://on.mktw.net/9m1MII

Reuters Biz: Sanofi makes hostile $18.5 billion bid for Genzyme http://dlvr.it/6RMjt

Yahoo ! Finance: Bank of America delays foreclosures in 23 states as it examines handling of documents http://yhoo.it/bSR8sx

Yahoo! Finance: Verizon Wireless plans $30M-$90M customer refunds http://yhoo.it/bCfVRE

Douglas A. McIntyre