The Twitter-24/7 Wall St Market Report 10/15/2010 GE, Bernanke & Co

Twitter  has, by most estimates, 145 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 tweets are a sign of which companies the Twitter universe is interested in. Together, these financial sites are followed by nearly 1,000,000 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.

Zerohedge: Bernanke: It’s all Keynes’ fault

NYT: Bernanke Outlines ‘Case for Further Action’ http://nyti.ms/aG24vK

FT: GE third quarter profits drop 11%: General Electric, the world’s largest conglomerate, reported lower net profits … http://bit.ly

CNN Money: Annual inflation rate remains at 1.1%; retail sales rose in September based on strength in auto and electronics sales, U.S. says. $$

CNN Money: Bernanke says Fed has ‘a case for further action’ to stimulate economy due to high unemployment and low inflation. $$

CNN Money: GE posts 29% gain in net income http://bit.ly/dzz4B0

Reuters Biz: GE profit from continuing ops rises http://dlvr.it/73dDX

MarketWatch: Federal Reserve Chairman Ben Bernanke says there’s a case ‘for further action’ http://on.mktw.net/aLyQpO

Douglas A. McIntyre